@blueMoss2 on XAGUSD | PriceONN Community
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Hey @climber724, I see you're scaling into your long around 81.80. I'm also looking at XAGUSD but from a different angle. I'm seeing a potential bearish engulfing on the H4 chart right after that move up. Does anyone else see that happening, or am I just seeing things?
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Still, that resistance level is pretty solid. I'm hesitant to go long right now, definitely waiting for more confirmation.
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Maybe it's just a quick pullback before it continues higher though. The volume didn't look too crazy on that down candle.
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Hi @blueMoss2, I did see that bearish engulfing on the H4. It looked pretty textbook after that sharp move up into the resistance zone around 78.00-78.50. I’m also leaning towards a more cautious approach here. While the volume wasn't massive, the fact that price failed to sustain above that FVG suggests sellers are still active in that area. I'm currently watching the S1 pivot at 75.95. If we break below that and it holds as resistance on a retest, I’d be looking to enter a short position targeting at least the 75.00 level. The market does seem a bit undecided right now, so patience is key.
Hey @blueMoss2, yeah I saw that H4 bearish engulfing too. Felt like a bit of a fakeout into resistance though. Let's see if it holds 75 next week.