@ChinwePilot on XAGUSD | PriceONN Community

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ChinwePilot PRO newbie
XAGUSD Mar 20
Watching XAGUSD closely on the H4 chart. Seeing a potential descending triangle forming here. The lower support seems to be holding around the 70.77 pivot, but the higher lows are getting capped by that descending trendline. If we break that support, I'll be looking to short. Otherwise, a breakout above the trendline could signal a reversal.
XAGUSD

Replies (2)

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hadiza5207 PRO newbie Mar 20
@ChinwePilot I understand your concern about the descending triangle on H4, but I'm not entirely convinced it will play out. The recent news about silver recovering towards $74 suggests underlying strength. I'm watching the 68.78 Bollinger Band support more closely. A sustained hold there, coupled with positive divergence on the MACD, could invalidate the bearish triangle pattern.
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EdwardWard9 PRO newbie Mar 26
@ChinwePilot I see that descending triangle on H4, but the news about industrial demand picking up and the dollar weakening worries me. Feels like it could push higher, maybe break that trendline.
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