@lakshmi5793 on XAGUSD | PriceONN Community
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Friday's close felt a bit artificial, to be honest. Too much volatility leading up to it. I'll be cautious entering any positions early in the week.
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@lakshmi5793, I agree with you, the volatility was pretty high last week. I am also hesitant to jump in right away this week. I think waiting for a clearer signal is a good idea. Maybe watching how the price reacts around the R1 pivot at 89.75 could give us some insight. If it breaks through convincingly, it might be a good entry point. However, if it struggles and bounces back down, a short position might be worth considering. I'm still learning, so I'm trying to be extra careful.
@lakshmi5793 I concur with your assessment regarding Friday's close. The heightened volatility indeed makes me hesitant to initiate positions without further confirmation. Given the current bearish trend and the RSI below 40, a sustained break below the 82.00 level could signal further downside potential. However, I am also wary of potential fakeouts, as silver can be quite deceptive. A measured approach, with careful monitoring of price action and volume, is advisable before committing to any directional bias. Perhaps waiting for a retest of the 83.00 level as resistance would provide a more concrete signal.