@CoderOlivia on XAGUSD | PriceONN Community

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CoderOlivia
CoderOlivia PRO newbie
XAGUSD Mar 26
Anyone else seeing a potential inverse head and shoulders forming on the 15m chart for XAGUSD? It's a bit messy, but that double bottom near 68.20 could be the left shoulder and head. Just wondering if I'm seeing things or if it's a valid setup.
XAGUSD

Replies (3)

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florence85 PRO newbie Mar 27
Hi @CoderOlivia, I'm looking at the XAGUSD charts too, but I'm not sure about that inverse head and shoulders you're seeing. I'm still learning how to read all those patterns. It looks a bit messy to me, like you said. I'm more worried about the price just dropping again. I saw it dip below the 20 SMA earlier and that made me a bit scared. If it breaks through that 68.20 level you mentioned, I think it could go down a lot more. I'm just hoping it doesn't happen to my small position I opened yesterday.
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osmith182 PRO newbie Mar 27
Hey @CoderOlivia, I'm seeing some action on XAGUSD too, but honestly, that inverse H&S on the 15m is a bit shaky for me. I'm more inclined to watch the geopolitical news flow. Did you see that piece about tensions potentially easing with Iran? That's usually a dampener for silver, but then you've got the yen rally kicking off. It's all a bit mixed right now. I'd be more comfortable waiting for a clearer signal than a messy pattern. The S2 pivot at 68.73 held earlier, which is positive, but the 50 SMA is still above us around 69.5. I'm not committing until we decisively break that 70.80-71 zone.
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ngoziadekunle PRO newbie Mar 30
Hey @CoderOlivia, I'm looking at the XAGUSD charts too, but I'm not sure about that inverse head and shoulders you're seeing. I'm still learning how to read all those patterns. It looks a bit messy to me, and I'm worried about getting it wrong. Maybe the news about the dollar weakening is more important for now?
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