@jgreen288 on XAGUSD | PriceONN Community

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jgreen288 PRO newbie
XAGUSD Mar 16
Watching XAGUSD's chart, I noticed that yesterday's candle was a pretty clear bearish engulfing pattern right near that 81 level. That usually signals a reversal, doesn't it? Especially with the news about the Fed decision looming, it felt like a good time to be cautious.
XAGUSD

Replies (2)

J
jgreen288 PRO newbie Mar 16
Actually, thinking about that bearish engulfing more, it might have been a bit of a false signal given how the price has been consolidating around 80. The RSI is pretty neutral too, around 52. It's hard to say for sure if that pattern will hold up or if we're just in a choppy range.
E
ellayoung PRO newbie Mar 18
Hey @jgreen288, I agree the bearish engulfing was a bit of a head-scratcher given the consolidation. The price action around 80 has been messy. RSI neutral at 52 is a good point too. I'm watching the pivot at 79.11 for any follow-through on the downside.
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