@braveFern2 on XAGUSD | PriceONN Community
Just opened a small long position on XAGUSD around 79.15. The dollar weakening a bit overnight based on that news headline and yields dropping seems like a good sign. Setting my TP near the 80.30 resistance level. Let's see if this Asian session provides a little bounce before NY opens.
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Actually, thinking about that recent news again, the market reacted kinda weirdly to the dollar weakening. Maybe there's something else driving silver down that I'm missing.
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Hey @braveFern2, I saw you went long on XAGUSD. I'm watching it too and it's definitely feeling a bit tricky right now. That drop from the 79.30s seems quite sharp for a sleepy session. I'm kind of seeing what might be a descending triangle forming on the H4 chart, with lower highs and a flat bottom around 77.50. If it breaks that lower trendline, it could be a signal for more downside, possibly heading towards that S2 pivot at 78.19 or even lower. It makes me a bit nervous about going long right now, especially with that RSI looking pretty bearish at 36.8. I wonder if it's just inducement to get people to buy before a bigger move down. Still learning though, so keen to see how it plays out!