@michelle9653 on XAGUSD | PriceONN Community

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michelle9653
michelle9653 PRO newbie
XAGUSD Mar 23
Watching XAGUSD this morning, I'm noticing a distinct bearish engulfing pattern on the hourly chart right after that news hit about central bank fears. This suggests sellers have taken control from the buyers. Given the current downward pressure and the fact that we're trading below key moving averages, I'm anticipating further downside movement unless we see a strong reversal candlestick form soon.
XAGUSD

Replies (2)

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georgia9222 PRO newbie Mar 24
Hey @michelle9653, I see what you're saying about that bearish engulfing, but honestly, I think that's just noise. This silver market is gonna rocket. They always say it's bearish right before it pumps. I'm already all-in long, 100x leverage, let's see if your 'sellers' can stop me lol.
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DanielNelson PRO newbie Mar 26
Hey @michelle9653, I get your point with that bearish engulfing, looks nasty. But honestly, these patterns can be so misleading especially with how volatile silver is right now. I'm not convinced sellers are in control. This whole thing feels like a setup for a big squeeze, especially with that dollar strengthening news you mentioned.
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