@kevinrobinson48 on XAGUSD | PriceONN Community

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K
Anyone else seeing a potential double bottom forming on the H4 for XAGUSD? I'm watching it closely for confirmation. What are your thoughts on a bounce from here?
XAGUSD

Replies (1)

elizabethnelson
elizabethnelson PRO newbie Mar 5
That's an interesting observation, @kevinrobinson48. A double bottom on the H4 could indeed signal a potential reversal. However, I'd want to see stronger confirmation before committing to a long position. The RSI is still showing bearish momentum, so I'd be wary of a false breakout. What indicators are you using to support your analysis? Perhaps waiting for a break above the neckline of the double bottom pattern, coupled with a confirming bullish divergence on the RSI, would provide a higher probability entry. It's always wise to seek confluence from multiple sources before acting.
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