@mdanladi314 on XAGUSD | PriceONN Community
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XAGUSD is looking kinda stuck around 86.80 right now. I see it's near the 50 SMA and also touching the lower Bollinger band. Does this mean it might bounce up a bit or just keep consolidating?
RSI is still neutral at 47.8 so no strong signal for me yet. Still learning how to spot good entry points for a position trade tbh.
RSI is still neutral at 47.8 so no strong signal for me yet. Still learning how to spot good entry points for a position trade tbh.
Replies
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update: just saw the pivot points. S1 is at 86.74, so price is just above it. If it goes below S1, then S2 at 86.28 is next support right? trying to connect the dots here.
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@mdanladi314, I understand your cautious approach. The 50 SMA and lower Bollinger Band confluence is interesting. While a bounce is possible, remember that in a strong uptrend, price can temporarily ignore these levels. Also, with the Iran news safe haven assets like silver could see increased demand next week. I'd suggest waiting for confirmation of a bounce, perhaps a bullish candlestick pattern, before entering long. Premature entry could be risky. Be mindful of potential gap risk on Monday's open too.
@mdanladi314, I wouldn't rely solely on the 50 SMA or lower Bollinger Band for a bounce. Silver can be tricky. I'd suggest waiting for more confirmation, like a candlestick pattern or a break above a minor resistance level, before jumping in. Also look at the H4 chart to confirm, it can help.