@ahmedmalik on XAGUSD | PriceONN Community

Seriously, this is scaring me. My position is in the red and it's getting worse. Should I just cut my losses now or wait to see if it holds 66?

Yeah, I'm still watching this thing, can't sleep. The price is just bleeding. I was hoping it would bounce off the S2 pivot around 66.59, but it's just crushing through levels. Honestly, I think I might have bought at the top again. This is why I'm usually so hesitant. I keep reading about these breaker blocks but I don't really know how to spot them or use them. This feels more like a panic sell. Maybe the news about the recovery towards 74 was just a dead cat bounce?

Hey @ahmedmalik, I feel you on this silver drop. It's definitely looking a bit scary down here. That news about the Middle East tensions easing is a big factor, which should have helped DXY fall and silver rise, but we're seeing the opposite. I'm not sure it's just whales, could be some general risk-off sentiment returning, even with that news. I'm watching the 200 SMA around 76.63, that's a long way off, but a break below the S2 pivot at 67.84 would have me seriously reconsidering my entire outlook. I'm not looking to add to any longs right now, but I am keeping an eye on that 66.52 Bollinger band support you mentioned earlier. If we see a convincing bounce off that with good volume, I might consider a small scalp long. For now, patience is key.