@fbailey272 on XAGUSD | PriceONN Community
Given the downside acceleration and the DXY strength, I've scaled back my exposure on XAGUSD. Position sizing is now tighter, focusing on a smaller risk percentage per trade. Will only add back if we see a clear break and hold above 69.50, possibly targeting a breaker block on the hourly.
Replies
Yeah, I'm just waiting to see if that 66.28 S2 level can offer any support. If that breaks, we could be heading towards the 65 region, which would be quite the displacement. I'm keeping an eye on the hourly RSI too; if it dips below 30, it might signal oversold conditions for a brief scalp bounce, but I wouldn't bet on a sustained recovery yet. The core issue is still the dollar strength and that persistent geopolitical uncertainty. It's a two-pronged attack against silver right now.
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Hey @fbailey272, I hear you on tightening risk. This Sydney session is dead quiet, barely moving. The DXY strength is a concern, but XAGUSD is still showing resilience, holding above the 74.78 pivot. I'm watching that 75.28 R1 level. If it breaks cleanly with some volume, might consider a quick long targeting 75.50. It’s a bit of a gamble with the geopolitical undertones, but the technicals are still pointing up for now. That 69.50 level you mentioned is a ways off, but definitely a good long-term target if we see a major shift.