@adaku6044 on XAGUSD | PriceONN Community
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The dramatic fall in XAGUSD today warrants a very cautious approach. While the RSI is deeply oversold, suggesting a potential bounce, relying solely on this indicator could be risky. We need to consider broader market factors and potential for further downside before considering any long positions. The 200-day SMA at 86.70 seems like a distant memory now. I would advise anyone considering entry to wait for a clear signal of stabilization, perhaps confirmed by a bullish candlestick pattern on the H4 chart, before committing capital. Proper risk management is key in this environment.