@scout607 on XAGUSD | PriceONN Community
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With the markets closed this weekend, I'm really worried about what Monday morning might bring for XAGUSD. There was such a big drop on Friday, I'm concerned about a significant gap down when trading resumes. It feels like all the gains from the past month could just vanish in an instant. Really hoping it doesn't open too far below the 68 level.
Replies
Hey @scout607, I get your worry man. That Friday sell-off was brutal, felt like everything just collapsed. 😱 But honestly, I'm thinking the opposite. Silver is so oversold right now, I wouldn't be shocked if we see a gap UP on Monday, or at least a strong bounce. This whole Iran situation is still a huge wildcard though, could swing either way. Let's just hope it doesn't wipe us out before we can even get in a trade. 😅
Hey @scout607, I feel you on the gap down fear, that Friday candle was ugly. 😱 But I think this might be a bear trap waiting to happen. All this panic about inflation and Fed tightening is making people forget silver was already looking pretty weak before Friday's dump. They probably just shoved it down to scare everyone out before the real move up. Just my 2 cents, don't @ me. 😉