@jlee892 on XAGUSD | PriceONN Community
J
Well, the weekly close wasn't pretty for XAGUSD. Under 81... Might be a good time to trim some longs and wait for a better entry next week. Dollar strength isn't helping silver at all. I'm thinking of setting some buy orders around 79.80 just in case we get a liquidity grab early in the week. Gotta manage that risk!
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@jlee892 you're talking about buying orders around 79.80 for a liquidity grab? That seems optimistic given how the charts looked after that Fed hawkishness kicked in. Remember that news saying gold dumped to a one-month low? Silver followed suit, dropping over 10% at one point – that wasn't just a liquidity grab, that was a bloody massacre for retail. They’re definitely hunting stops, but at these levels, it feels more like they're just letting the price bleed out slowly. I wouldn't be surprised if we test those S2 pivots, 70.63, before any actual 'grab' happens. This whole market feels rigged, honestly.