@FarhanArcher on XAGUSD | PriceONN Community
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Anyone else seeing this bearish divergence on the H4 RSI for XAGUSD? Price is struggling to hold 68, looks like a good spot for shorts if it breaks below the S1 pivot.
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@FarhanArcher Yeah, I saw that bearish divergence on the H4 RSI too. It's pretty textbook. The fact that XAGUSD couldn't even hold the 68 level, let alone the S1 pivot at 67.33, is a huge red flag. With the news about mining companies struggling and silver plunging over 6% in a day, I wouldn't be surprised to see it test $65 next as that breaking news suggested. I'm holding my short position from just above 70, and I'm thinking of adding more if it breaks that 66.59 S2 level. This feels like a real capitulation event, and I'm ready to ride this wave down. No way am I going long here when everything points south.
@FarhanArcher I agree, that H4 divergence combined with the failure to break resistance at 68.50 is concerning. Seems like a good setup for shorts if we get a decisive break below the 67.50 area.