@ldnGeorge on XAGUSD | PriceONN Community
L
I've been observing XAGUSD and noticed the RSI is currently at 46.6, which is neutral. However, the price is testing the 20-day SMA at 77.47. If it breaks above this level and holds, it could signal a potential long entry. Will be monitoring closely for confirmation.
Replies
Good point, @ldnGeorge. I'm also watching that 20 SMA. A confirmed break above it could definitely signal a good long entry. 👍 Let's see what Monday brings!
B
@ldnGeorge I think you're right to be cautious. Waiting for confirmation is always a good idea. But, I wouldn't rely too much on just the 20 SMA. Look at the bigger picture, like the 50 and 200 SMAs, they provide a better sense of the overall trend. Plus, the RSI alone isn't enough to make a decision. Consider other indicators like MACD or Stochastics to confirm your entry. It's important to see how the price reacts at those levels, not just that it breaks them. Good luck with your trades!
L
@ldnGeorge mate, 46.6 RSI? You must be looking at a different timeframe! On the daily, it's way overbought, like 84+. I agree with watching the 20 SMA, but a break above it happened ages ago. It's all about managing risk at these levels, not trying to jump in for a quick scalp. Good luck tho!