@sbrown919 on XAGUSD | PriceONN Community
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Anyone else seeing a potential liquidity grab below the 79.00 level? It feels like price has been consolidating for ages, and with this NY session activity, I'm expecting a sharp move soon. Looking for confirmation signals near those S2 pivots on XAGUSD.
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Actually, thinking more about that S2 pivot... if it holds, could we see a dead cat bounce? The RSI is pretty neutral still, so it's not a clear buy signal for me, but the geopolitical news might be enough to shake things up briefly.
Hey @sbrown919, totally agree about the liquidity grab idea. It's been so choppy around 79.00, feels like a trap. But with this current plunge, I'm not sure about a dead cat bounce off S2. News like about the Fed's hawkish stance is really weighing heavy. My gut feeling is we might see a brief pop if some geopolitical tension flares up, like that Dominga project mention, but the underlying pressure from interest rate fears seems stronger. I'm watching that 70 psychological level closely now, and if it breaks, I'm expecting a quick move down to test the 67s. Honestly, I’m a bit tired of watching this volatility and might just close my laptop soon and hope for the best overnight.
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Yo @sbrown919, I hear you on the liquidity grab below 79.00, but honestly, with this current plunge and the bearish sentiment everywhere, I'm not seeing much upside right now. It feels like we're heading lower. That whole thing about the geopolitical news and RSI being neutral... I dunno, seems like wishful thinking. This isn't the time for dead cat bounces, it's time to watch for the next leg down. Those S2 pivots are getting tested hard, and if they break, we're going to see a serious sell-off. Forget 79, we might be looking at those 70s again sooner than we think. This whole market feels like it's on the brink of a massive correction, and silver is just following gold's lead.