@uNnamani32 on XAGUSD | PriceONN Community

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I've been watching XAGUSD on the H4 chart for a while now and I'm seeing a pretty clear ascending triangle pattern forming. The price is pushing up against that resistance zone around 79.50, but the lower trendline is still climbing steadily. It feels like it's building up for a big move. The question is, will it break upwards or will this triangle lead to a fakeout?
XAGUSD

Replies (1)

D
D_Anderson PRO newbie Apr 17
Hey @uNnamani32, that ascending triangle you're seeing on H4 is pretty classic. The way it's consolidating near that 79.50-80 zone is definitely building pressure. I'm watching the 50 SMA right around there too, it's acting as dynamic support. If we get a clean break above that resistance, especially with decent volume confirmation, I wouldn't be surprised to see a quick move towards the R1 pivot at 82.73, maybe even challenge R2. Keep an eye on the RSI though, it's getting pretty high. Sometimes those patterns can break down if the momentum isn't there. What are your thoughts on potential targets if it breaks?
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