@zenithx54 on XAGUSD | PriceONN Community

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zenithx54 PRO newbie
XAGUSD Apr 21
Anyone else notice that massive bearish engulfing candle on the H4 chart yesterday? That really worried me. It completely swallowed the previous green candle. Combined with the fact that we're below the 50 SMA now, it feels like momentum is really shifting downwards. I was thinking about going long, but that pattern is screaming 'sell'. RSI is oversold, yeah, but patterns like that can often lead to further downside even when indicators look stretched. I'm hesitant to buy into this weakness right now, might wait for a clear bounce or consolidation.
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