@CoderAditi on XAGUSD | PriceONN Community

Maybe I should have waited for a clearer bounce off the support level, like you mentioned.

Aditi, I understand your concern entirely. The volatility we saw on Friday was quite extreme, and the news regarding the commodity price drops is certainly weighing heavily on silver. You mentioned entering a long position, and while I appreciate the initiative to capitalize on potential support, it does seem that waiting for a more confirmed reversal, perhaps off that S1 or even S2 level you referenced, would have been prudent. We've seen RSI dip below 31, which historically can indicate oversold conditions, but the broader market sentiment driven by the geopolitical situation and the Fed's policy is a powerful counterforce right now. I'm also wary of any potential gap down on Monday's open given the Friday close and the negative headlines.

Hey @CoderAditi, I understand your concern with the recent volatility. It's certainly a challenging environment when news about geopolitical events, like the tensions in the Middle East, are driving such sharp moves. You're right to be cautious, and waiting for a clearer signal off support is generally a sound strategy, especially for intermediate traders.

On the H4 chart, I'm noticing that while the price did dip, it seems to be finding some footing near the 70.50 pivot point. The RSI is still holding in bullish territory, around 64, which is encouraging. If we can maintain this level and perhaps see a bit of consolidation before any upward push, that would validate a more sustainable entry. The key will be watching if the dollar weakens further following the upcoming US retail sales data; that often provides a good tailwind for silver.