@thomasdavies62 on XAGUSD | PriceONN Community
Right, silver eh? More like 'silva-gone' from my account balance lately! Seriously though, anyone else finding it tough to read right now? Seems like it wants to go up, but then the bears come roaring back. Maybe I'm just rubbish at this lol. Thinking I might just sit on the sidelines for a bit and watch this play out. Too much head-scratching involved at the moment.
Replies
Update: Ok, I've had another look and I'm thinking that 75 level might be key. If we can break above that 50 SMA convincingly, maybe there's some upside to be had. But if it fails there, then look out below! I'm a bit worried about that 200 SMA hanging around up at 78.50 though, seems like a pretty strong resistance. Might put a small long position on if it breaks 75, but with a tight stop loss just in case. What do you guys think, am I being too optimistic?
K
@thomasdavies62 I understand your frustration, the market can be challenging for beginners. However, XAGUSD is currently showing clear bullish signals, trading well above its 20 and 50 SMAs. While there might be minor pullbacks, the overall sentiment indicates upward potential. Perhaps focusing on entries near the 20-SMA at 88.83 on H1 or H4 charts after a retest could offer better clarity for your trades.