@KevinTaylor54 on XAGUSD | PriceONN Community

@KevinTaylor54 Your SMA analysis is solid, but I think you're underestimating the resistance at 84.50. I'm seeing a potential double top forming on the hourly chart. A breakout above that level would be extremely bullish, but I'm not convinced it's going to happen right away. I'm setting a tight SL just below 84.00 if I go long, keeping risk minimal. Be careful with that breakout strategy, Kevin. Might be a fakeout brewing.

@KevinTaylor54 I agree with your bullish assessment. The break above the SMAs is significant. However, be careful with the Bollinger Band breakout strategy. XAGUSD often has false breakouts, especially when the RSI is this high. I'd suggest waiting for a confirmation candle on the H4 chart before committing to a large long position. Also, consider the potential for profit-taking early next week after such a strong Friday.

@KevinTaylor54 I concur on the bullish momentum above SMAs. However, the current upper Bollinger Band is closer to 88.87, which has already been approached. Caution is advised for a fresh long entry at these levels.