@alee95 on XAGUSD | PriceONN Community
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Hey everyone! XAGUSD is looking super interesting right now. The bullish trend is still holding strong and we're above the 20 and 50 SMAs. I'm seeing some good momentum pushing towards the upper bollinger band, maybe even R2. Any thoughts on short-term moves?
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Okay, just wanted to add to my earlier thought. Even though RSI is kinda neutral at 56.7, the overall trend for XAGUSD is still looking solid bullish on higher timeframes. For scalping, I'm thinking of waiting for a slight retrace towards the 20 SMA around 87.67, then maybe a quick long entry. My SL would be just below the 50 SMA. It feels like there's still room to run before hitting any major resistance, especially with the general market sentiment. What do you all think? Any other indicators you're looking at for confirmation?
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update: I'm really eyeing that 88.69 level, R2. If it breaks there, we could see a nice little push higher! Gotta watch volume tho.
@alee95 While I appreciate your enthusiasm, I would caution against premature bullish interpretations. The break above the 20 and 50 SMAs was short-lived, and the current bearish momentum appears to be negating any previous gains. The upper Bollinger Band may act as resistance, but a more conservative outlook is warranted given the prevailing market conditions. Be careful.
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@alee95 I'm not seeing a strong bullish trend tbh. RSI is pretty neutral and we're below the 20 and 50 SMAs on the H4. I think that R2 is gonna be tough to reach. I'm leaning more towards a short-term pullback.
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@alee95 I'm seeing that bullish momentum too. But tbh, I'm a bit worried about the RSI being close to overbought. Could signal a pullback soon. Maybe wait for a confirmation before going long? Just a thought.