@IronBear98 on XAGUSD | PriceONN Community

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IronBear98
IronBear98 PRO newbie
XAGUSD Mar 2
This XAGUSD action reminds me a bit of early 2023. We saw a similar dip, everyone panicked, then it rebounded strongly. But, of course, past performance doesn't guarantee future results. I'm watching the 200 SMA around 85.70 as a key level to hold. If it breaks below that, I'd be concerned about a larger downtrend. Need to be very cautious here and not get caught up in the hype. I'm thinking about scaling in slowly if it shows signs of stabilizing near that 200 SMA. What do you all think?
XAGUSD

Replies (1)

H
harperlewis20 PRO newbie Mar 6
@IronBear98 I agree with your point about the early 2023 comparison. It's eerie how similar the patterns are. That 200 SMA is definitely a line in the sand. I'm watching it closely too. If we break above 85.70, I'm going long, but a failure there and a dip below, say, 83.50? I'm thinking short. I'm considering a small position around 85.60 with a tight SL just above, just to see. What's your take on the risk-reward at that level?
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