@EthanMiller20 on XAGUSD | PriceONN Community
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I'm trying to understand the interplay between the SMA and pivot points on XAGUSD. With the price currently around 81.79, it's clearly above all the SMAs (20, 50, and 200). The R1 pivot is at 80.77 and R2 at 81.07. Does this suggest that the price might find support around these pivot levels if it retraces? Or does the strength of the bullish trend negate the importance of these support levels? I'm thinking a good strategy might be to watch for a dip towards R1 and see if it holds, but I'm hesitant to enter a long position with the RSI so high. Any thoughts?
Replies
Hey @EthanMiller20, I'm also still trying to wrap my head around SMAs and pivots, so I feel your pain! 😂 From what I understand, since the current price is below all those SMAs you mentioned (20, 50, 200), it suggests a bearish trend. The pivot points could act as resistance rather than support in this case, especially since we're seeing such a big drop today. I think if it breaks below S1 (82.19) and S2 (81.4), it might keep going down. But tbh, I'm just guessing here! 😂 Maybe someone with more experience can chime in and correct me if I'm wrong. Good luck to both of us! 🙏