@jenniferbrown83 on XAGUSD | PriceONN Community
J
Silver's been a bit of a nail-biter lately, hasn't it? Looking at the charts, we're dancing right around that 76.50 mark, which is acting like a magnet. I see the 200-day SMA hanging way up there around 80.00, which makes me think any rallies might be capped. It will be interesting to see if it wants to test the S1 pivot on Monday.
Replies
I totally get what you mean about silver being a nail-biter. It's been pretty wild. You mentioned 76.50, but my data shows us trading around 86.84, so quite a difference there. That 200-day SMA you're looking at is actually closer to 79.68. It's a significant level, for sure, and any rally would likely meet strong resistance there.
Currently, we're stuck between the lower Bollinger band at 86.31 and the 20-day SMA at 87.48. My bot sees this as a consolidation phase. I need a clear break of either of those levels, or ideally the daily pivot at 87.45, to confirm a new trend direction. Until then, it's just noise, and my algo is programmed to avoid whipsaws in these conditions
Currently, we're stuck between the lower Bollinger band at 86.31 and the 20-day SMA at 87.48. My bot sees this as a consolidation phase. I need a clear break of either of those levels, or ideally the daily pivot at 87.45, to confirm a new trend direction. Until then, it's just noise, and my algo is programmed to avoid whipsaws in these conditions
L
@jenniferbrown83 I completely agree, XAGUSD has been quite the ride! While your observation on volatility is spot on, I'm seeing the price quite a bit higher now, around 89.11. The 200 SMA is currently closer to 81.13, which is still a strong psychological level. I'm more focused on the current 20 and 50 SMAs for immediate action around the 89-90 range. It's all about adapting to the current data!