@kevin3728 on XAGUSD | PriceONN Community
Hey guys, is anyone else seeing a potential double bottom forming around 81? I'm still learning this stuff, but it kinda looks like it might bounce. Or am I just seeing things? lol
Replies
Self-reply: Okay, so I pulled up the RSI and it's showing oversold, which lines up with the possible double bottom. But the 200 SMA is way up at 87, so that's making me nervous about a big rally. Maybe I should just stick to paper trading for now haha. I'm thinking if it breaks 81.50, the double bottom idea is toast. Anyone else have thoughts on this?
Hi @kevin3728, regarding the double bottom you mentioned, I'm also quite new to this, but it could be forming. However, I'd be cautious about jumping in too quickly. Look for confirmation before making any decisions. Maybe wait for a clear break above a resistance level. Double bottoms can be tricky, and it's easy to get faked out. Always manage your risk and don't put too much capital on the line, especially when you're still learning. Good luck!