@nsiddiqui94 on XAGUSD | PriceONN Community
Looking at XAGUSD on the H4 chart, I'm seeing a potential bullish engulfing pattern forming right at the 79.00 level. This often signals a reversal after a downtrend. We also have the 50 SMA just below this area, which could act as dynamic support. Let's watch if this pattern completes and holds.
Replies
Actually, re-evaluating the H4, that bullish engulfing is looking a bit weak as the close isn't quite above the open of the previous candle. If it fails to materialize and we break below that 78.74 pivot, we could see a sharp move down towards the S1 level.