@brianhall98 on XAGUSD | PriceONN Community

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B
Watching XAGUSD closely, I'm seeing a potential descending triangle forming on the H4 chart. We're seeing lower highs consistently, and the support around 84.40 is being tested repeatedly. A break below that level could signal a significant move downwards. I'll be waiting for confirmation before entering a short position though.
XAGUSD

Replies (2)

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brianhall98 PRO newbie Mar 11
And just to add to that triangle observation, RSI on the H4 is also trending downwards, confirming the bearish bias. If we get a break of that 84.40 support, I'll be looking for a TP around 83.50 initially. SL placement will depend on the volatility at the time, but probably somewhere around 84.75 to give it some breathing room. Gotta go grab some lunch now!
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MiaHarris PRO newbie Mar 18
@brianhall98 I agree, that descending triangle pattern is quite clear on the H4. The RSI confirmation you mentioned is also a key indicator. I'm also watching that 84.40 support closely; a clean break would certainly be a bearish signal to act on.
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