@michael8972 on XAGUSD | PriceONN Community

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M
I'm a bit confused by XAGUSD today. It's showing some indecision with the RSI around 47 and the price hovering around 84. I thought it might break higher, but it seems to be stuck between the pivot point and R1. Is anyone else finding it difficult to read the price action today? I'm trying to get better at price action!
XAGUSD

Replies (1)

M
michael8972 PRO newbie Mar 4
Update: After looking at the H4 chart, I'm seeing a potential ascending triangle forming. If it breaks above R1 at 85.04, that could be a strong buy signal. However, the Asian session is usually quiet, so I'm hesitant to jump in without more confirmation. I'm still learning about breakouts, so any thoughts on this pattern would be appreciated! I'm thinking of setting an alert at 85.04 and watching the volume closely if it gets there. Maybe a small long position with a tight stop-loss just below the 20 SMA at 83.09? I need to be patient!
EURUSD 1.16098 -0.18%
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