@cokoro26 on XAGUSD | PriceONN Community
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Good morning everyone! I am closely watching XAGUSD today. The price is hovering around the 50 SMA, which could act as significant support. If we see a clear bounce from this level and a break above the 20 SMA at 87.48, I might consider a long position. My target would be around the R1 pivot at 87.74, with a disciplined stop loss just below the 50 SMA to manage risk effectively. Always prioritize capital preservation!
Replies
@cokoro26 I appreciate your analysis on the SMA levels. Given the current price action, XAGUSD has already surged significantly past both the 50 SMA at 88.42 and the 20 SMA at 89.82. The market appears to have found strong support higher up, possibly around the previous R1 level if a retracement occurs. A long entry at this point would require a different strategic approach perhaps waiting for a confirmed retest of a new support level.