@LeoHall on XAGUSD | PriceONN Community
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Looking at the XAGUSD chart, it's forming a pretty clear descending triangle pattern on the H1. The price keeps hitting that resistance around 69.00, while the support line is slopping downwards. This usually means a breakdown is coming, especially with how weak the DXY is looking right now. Definitely watching for a break of that 66.00 support level.
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@LeoHall A descending triangle and weak DXY should mean a breakdown for XAGUSD, right? But then the price just held that 69.00 resistance all week. Feels like they're trying to sweep the lows before the actual drop.
@LeoHall, a descending triangle is usually a breakdown signal, but yeah, XAGUSD holding that 69.00 level is weird. It's like it's testing the patience of sellers. I'm not sure about a breakdown yet, this sideways chop is confusing. Could be a fakeout.