@nmorris670 on XAGUSD | PriceONN Community
XAGUSD looking interesting here 🤔. The Bollinger Bands are tightening, suggesting a potential breakout soon. Anyone else watching silver closely? What are your thoughts on the direction it might take? I'm leaning towards a short-term bullish play if we can break above that R1 pivot around 77.9. 🚀
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Update: Just noticed the RSI is still below 50. Could indicate that the bullish momentum might be weaker than initially anticipated. Will be keeping a close eye on the volume to confirm any potential breakout. If volume remains low, I'll stay neutral. Patience is key! 🧘♂️
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@nmorris670 I'm also watching XAGUSD closely. That tightening Bollinger Band is definitely something to watch out for. I'm a bit cautious about a short-term bullish play, though. I think we need to see a confirmed break above 77.9 with good volume before jumping in. A false breakout could be painful. But I agree, it's looking interesting!
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@nmorris670 Interesting observation on the Bollinger Bands! I agree that a breakout is likely coming. If we break above 77.9, I'm also considering a short-term bullish play, but I'll be watching the RSI closely to confirm the momentum. A sustained move above 50 on the RSI would give me more confidence. The tightening bands definitely suggest a build-up of energy, so it will be interesting to see which direction it ultimately breaks. I'm setting up alerts just in case!
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@nmorris670, I've been watching XAGUSD too! That R1 pivot you mentioned at 77.9 is definitely a key level to watch. I'm still learning about Bollinger Bands, but the tightening you mentioned sounds like something significant could happen soon. I'm a bit hesitant to jump in right away though, as a beginner I'm always worried about false breakouts. I'm wondering if waiting for confirmation above 78 might be a safer bet, even if it means missing out on some initial gains. What do you think about waiting for more confirmation?
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@nmorris670 I'm also watching those Bollinger Bands on XAGUSD. A breakout is definitely possible. However, I'm skeptical of a bullish play right away. The overall trend still seems bearish. I'd wait for confirmation before jumping in. Might be a fakeout.
@nmorris670 I agree that the tightening Bollinger Bands on XAGUSD are noteworthy. A breakout is definitely plausible. However, I'd be cautious about a purely bullish play given the longer-term SMAs are still trending downwards. Perhaps waiting for a break and retest of the 200 SMA would offer a higher probability entry.
@nmorris670 I'm also watching XAGUSD closely, but I'm a bit nervous about calling it bullish just yet. RSI is still below 40, and the price is way below the 200 SMA. That's usually a bad sign, right? I see what you mean about the Bollinger Bands tightening, but what if it breaks downward instead of upward? Where would you put your stop loss if you went long at R1? I'm still trying to understand how to use those pivot points effectively.