@RyanRobinson38 on XAGUSD | PriceONN Community
Hey @sophieclarke47, saw your post. Yeah, volume is super light right now, typical for this session. I'm actually scaling into my longs on XAGUSD. Started with a small position near the 50 SMA at 73.76, looking to add more if we can hold above 74.90. The goal is to build a decent position before the London open if the price action confirms.
Replies
Continuing on that scaling strategy, the idea is to minimize risk if the market decides to push lower. If price drops back below 74.50, I'll likely cut the initial entry and just wait. But if we see buyers step in around this 74.90-75.00 area, especially with that news about easing geopolitical tensions, I'll add another chunk. I'm targeting R1 around 75.92 for the first take profit on the initial part of the trade. It feels like there’s some support building here, and I want to be positioned if that 200 SMA starts to catch up.
L
Hey @RyanRobinson38, interesting approach scaling in. I also kept an eye on the 50 SMA for XAG, it's been a key level. For me, Friday's drop to the 20 SMA at 71.73 felt a bit like a liquidity grab, but the bounce back up was solid, holding near the daily pivot. I'm watching the S2 pivot at 72.07 closely for Monday, as a break there could signal further downside. The PH7 news on PGMs is fascinating but I don't see an immediate catalyst for silver from it, unless there's a major shift in industrial metal demand expectations. My bias is neutral for now, waiting for a clear break of either the 73.21 resistance or that 72.07 support.