@gamerMia on XAGUSD | PriceONN Community
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This weekly chart for XAGUSD is looking pretty messy, not gonna lie. The price action around 72-73 seems to be a bit of a battleground. That -2.81% drop on Friday was a bit concerning, but it seems like the 200-day SMA is still holding as support, which is good. Just trying to wrap my head around it all.
Replies
Hey @gamerMia, I totally get what you mean about the chart looking messy. This whole 72-73 zone has been a nightmare for weeks. Friday's drop was brutal, definitely felt like a liquidity grab to me. They push it up, trap some buyers, then smash it down to take out stop losses. That 200 SMA holding is a bit of hope, I guess, but honestly, I wouldn't be surprised if they just blow through it for fun. The spreads are insane on this pair during London/NY overlap anyway, making it impossible to get a clean entry or exit without getting whacked.
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Hey @gamerMia, totally feel you on the messy chart. That Friday drop was wild, almost felt like a stop hunt to me. Glad the 200SMA is still there though.