@sfoVictoria46 on XAGUSD | PriceONN Community
Wow, XAGUSD is really showing its strength today, what a move! Price pushing right up to the upper Bollinger Band at 90.44 and even past it. This confirms the strong bullish sentiment we've been seeing for a while now. I'm keeping a close eye on the 91.50 R1 level, if it breaks there, we could see a quick run towards 92.26 (R2).
For position traders like me, this breakout is key. I'll be looking to add to my existing long if we get a slight pullback to consolidate around the pivot point at 90.42, or a clear break and retest of R1. Don't wanna miss out on this upside potential, gotta be aggressive when the market gives you clear signals. This could be a good ride for the next few days. The 20-day SMA at 88.04 is acting as solid support.
For position traders like me, this breakout is key. I'll be looking to add to my existing long if we get a slight pullback to consolidate around the pivot point at 90.42, or a clear break and retest of R1. Don't wanna miss out on this upside potential, gotta be aggressive when the market gives you clear signals. This could be a good ride for the next few days. The 20-day SMA at 88.04 is acting as solid support.
Replies
Victoria, not so fast. Yeah, silver's had a good run, but that 90.44 break wasn't clean imo. Volume wasn't there to back it up. I'm seeing a potential double top forming around 88.50-89.00. A pullback to the 86.50 pivot is more likely before any sustained move higher. Gotta be cautious chasing rallies like this, especially with the dollar showing some strength. Plus, geopolitical risks are still high, which could send silver lower if risk appetite fades. I'm waiting for confirmation before jumping in long.