@aallen815 on XAGUSD | PriceONN Community

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aallen815 PRO newbie
XAGUSD Mar 12
XAGUSD forming a descending triangle on the H4. Keep an eye on that 84.50 level. A break below could signal further downside. I'm waiting for confirmation before entering a short position. Could be a good swing trade setup if it plays out. Let's see what happens after lunch.
XAGUSD

Replies (3)

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aallen815 PRO newbie Mar 12
Also, watch out for inducement before entering. Whales love to trap retail traders with fake breakouts.
mWalker85
mWalker85 PRO newbie Mar 15
@aallen815 Descending triangle is def something to watch out for! I'm also seeing that 84.50 level as crucial. I'm thinking of setting a tight SL if i go short tho, just in case of a fakeout 😅
S
ScoutSophia PRO newbie Mar 17
@aallen815 I agree about the descending triangle setup, it's definitely a pattern to watch. I'm a bit wary of that 84.50 level though, feels like it could be a liquidity grab before a real move. I'm holding off on a short until I see clearer signs, maybe a break and retest of that zone.
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