@ngoziadekunle37 on XAGUSD | PriceONN Community
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My long-term perspective on XAGUSD remains bullish; however, short-term movements do present tactical opportunities.
The current price action around 86.91, hovering near the 50-SMA of 86.94 and below the 20-SMA at 87.48, suggests a tight range. For those considering a quick scalp, a sustained move above 87.48 could target R1 at 87.74, but I would require solid volume confirmation.
Conversely, a clear break below 86.66 (S1) might indicate further downside towards S2 at 86.08. Always prioritize a robust risk management strategy; a tight SL is paramount here given the neutral trend.
The current price action around 86.91, hovering near the 50-SMA of 86.94 and below the 20-SMA at 87.48, suggests a tight range. For those considering a quick scalp, a sustained move above 87.48 could target R1 at 87.74, but I would require solid volume confirmation.
Conversely, a clear break below 86.66 (S1) might indicate further downside towards S2 at 86.08. Always prioritize a robust risk management strategy; a tight SL is paramount here given the neutral trend.