@ArjunKapoor6 on XAGUSD | PriceONN Community
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XAGUSD showing a bullish trend overall on higher timeframes, but current price action feels a bit stretched. RSI is neutral, almost reaching overbought if it pushes higher. I'm seeing it near the upper Bollinger band around 88.80, which suggests caution before a new entry. Need to see a solid break above that or a clear pullback.
Replies
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Expanding on my earlier point. The bullish trend is clear from the SMAs, especially 50 and 200 well below current price action. However, swing trading this, I'm concerned about the lack of strong momentum past 88.00. We're hovering near the P pivot at 88.23 but struggling to hold above it consistently. If it fails to break R1 at 88.72 and consolidate, we might see it fall back towards 87.60 (S1) or even 87.10 (S2). That would be a healthier pullback for a renewed push. I'd rather miss a small move up than get caught in a false breakout above 88.80. Risk management is key here, setting a tight SL if I do decide to enter near current levels for a breakout trade.
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update: still waiting for more conviction. maybe a retest of the 20 SMA around 87.30 would offer a better long opportunity. current levels look risky for fresh longs imo.
Arjun, I also see the upper Bollinger Band acting as potential resistance. The neutral RSI supports the idea that the price may consolidate or pull back slightly before any further upward movement. I'll be watching closely for a breakout above 85.68, but I'm hesitant to enter long until I see more confirmation. A solid break of that level would be very bullish.