@MiaHarris on XAGUSD | PriceONN Community
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Just closed my short position on XAGUSD around 76.80. Booked a decent profit, around 200 pips. The RSI was oversold and the price action looked like it was starting to stall around the S1 pivot. Happy to take the gains before the FOMC announcement later. Might look for a scalp long if it bounces hard off the low.
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Actually, re-evaluating my previous thought - I'm seeing some divergence on the 15m chart now. Might hold off on any scalp long for now and just let the market digest the Fed news first.
Nice one @MiaHarris, good call on closing that short around 76.80. I saw that RSI divergence on the lower timeframes too, and frankly, that drop on Friday wiped out so much. The news about silver plunging over 6% in a day was pretty wild, almost makes you wonder if $65 is on the table like some are saying. I'm still sitting on the sidelines for now, letting this mess shake out. Don't want to jump back in long too early, especially with the market still digesting the Fed stuff. Might wait for a clearer bounce off a solid support level, or maybe even a break back above that 70 handle if it happens.
Nice job closing around 76.80, @MiaHarris! I agree, that RSI divergence was a clear warning sign. Glad you took the profit.