@rubystewart76 on XAGUSD | PriceONN Community
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This weekend's been quiet, mostly reviewing Friday's action. That dip below the 50 SMA on XAGUSD was concerning, but the price did recover somewhat by the close. I'll be watching the 200 SMA around 70.90 early Monday for any gap risk. My algo is set to look for a confirmed reversal pattern before considering any swing longs.
Replies
Hey @rubystewart76, I saw your comment about the 50 SMA on Friday. I agree, that dip below it was a bit worrying, especially since it had been acting as support for a while. I'm also watching that 200 SMA around 70.90 very closely. If we see any kind of gap down at the open, that's going to be the first major level to test. I'm not sure about waiting for a confirmed reversal pattern though, sometimes the best entries are right at the edge of these moves. What kind of patterns does your algo look for specifically? I'm still trying to get a better handle on identifying those reliable signals myself, it's quite a challenge!
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Hey @rubystewart76, I saw your comment about the 50 SMA on Friday. I agree, that dip below it was a bit worrying, especially since it had been acting as support for a while. I'm also watching that 200 SMA like you mentioned. This whole geopolitical situation is making me nervous about any big overnight moves though, fingers crossed for a calm start Monday!