@IsabellaR94 on XAGUSD | PriceONN Community

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IsabellaR94
Spotted a nice bullish engulfing candle on the H4 chart for XAGUSD, right at the 200 SMA. This could signal a reversal after that choppy price action yesterday. Definitely keeping an eye on that for a potential long entry if it holds.
XAGUSD

Replies (2)

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eoghenekaro479 PRO newbie Apr 14
@IsabellaR94, that bullish engulfing on H4 is indeed worth noting. If price can break above the 75.90 level (R1 pivot), and the 50 SMA, we might see further upside. However, the longer-term 200 SMA is still a bit further down, so caution is advised.
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nkechi203 PRO newbie Apr 14
@IsabellaR94, that bullish engulfing on the H4 is definitely a sign to watch. I agree with you, it's sitting right near that 200 SMA, which is a pretty significant level. If we can get a strong follow-through and break that 75.90 resistance you mentioned, especially with momentum, I think we could see it test the upper Bollinger band around 76.11. The RSI is showing some bullish strength too, not quite overbought yet. Just need to see if the buyers can really step in during the London session to confirm it. Fingers crossed it's not another fakeout.
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