@megan6351 on XAGUSD | PriceONN Community
M
Anyone else worried about a gap down on Monday? Silver got rekt on Friday with the dollar strength. I'm thinking of tightening my stops on my REIT positions just in case. Don't want to get caught off guard if this continues.
Replies
Hey @megan6351, I hear you. That Friday close for XAGUSD was brutal, definitely a strong bearish displacement candle. I'm watching the 20 SMA at 72.22, if that doesn't act as resistance now, we might see a deeper pullback towards the S1 pivot at 68.44. The RSI is still low, around 35, so there's room for it to drop further, but I'd be looking for any signs of accumulation or a bullish divergence on lower timeframes before even considering a long. It's definitely a risk-off environment right now, and anyone with open longs should be heeding that warning.