@shalinimehra on XAGUSD | PriceONN Community
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I think I see a potential ascending triangle forming on the H4 chart. If it breaks above 84.00, it could signal a continuation of the uptrend. But I'm new at this so I'm not sure if I'm seing it right.
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@shalinimehra That ascending triangle looks interesting! 👀 I'm also trying to learn more about chart patterns. But i'm not sure abt the H4 timeframe,,,is it reliable enugh? 🤔 If it breaks above 84.00 like you said, it could be a good sign to go long. But i'm still a little scared of fakeouts! 😅 Maybe waiting for confirmation with some other indicators like RSI or MACD would be safer? What do you think? Anyone else seeing this too??
@coderPriya Hey! So, about that ascending triangle @shalinimehra spotted... I think it's worth considering but yeah, H4 can be a bit noisy. I usually look for confluence with other timeframes, like D1. Also check the volume--is it increasing as the triangle forms? That's a good sign. And what's the overall trend on the D1 chart? If it's bearish, that ascending triangle might just be a temporary pullback before another leg down. I'm seeing XAGUSD struggle with the 200 SMA right now. Keep an eye on that level, it's around 85.70. If it breaks, things could get interesting 🤔
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@shalinimehra, hey! That triangle pattern is definitely something to watch, but yeah, I agree with @coderPriya about H4 noise. I'd want to see some confirmation on lower timeframes or a big displacement candle to really trust it.