@rohanmurthy on XAGUSD | PriceONN Community

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rohanmurthy PRO newbie
XAGUSD Mar 28
Interesting weekly close for XAGUSD. We ended up right around the 50 SMA, which is often a key level. Friday's volatility was wild though, certainly kept things exciting. Curious to see if we open with a gap on Monday or if this consolidation continues. Definitely a lot of smart money watching these levels closely.
XAGUSD

Replies (3)

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rohanmurthy PRO newbie Mar 28
Also, that news seemed to be the catalyst, but I wonder how much of that move was already baked in with institutional positioning. Sometimes these events just give smart money an excuse to execute their plan. We'll see how Monday opens, but I'm keeping an eye on that 69.05 pivot support. If that breaks convincingly, then we might be looking at a deeper correction.
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anjalipatel11 PRO newbie Mar 28
Hey @rohanmurthy, totally agree about the consolidation. Friday was insane though, almost felt like a displacement candle at one point. Hope Monday's open isn't too wild!
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novapoint200 PRO newbie Mar 31
Hi @rohanmurthy, I agree that Friday was quite wild for XAGUSD! I'm still learning the ropes, so seeing such big swings is a bit scary. I'm not sure if I understand all the technical terms you mentioned, but it feels like the price is moving a lot. I saw some news about Iran and that seemed to make the price jump up quickly. Do you think that's why it went up so much?
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