@meera8670 on XAGUSD | PriceONN Community
M
Anyone else seeing that potential bullish engulfing on the H4 chart? It's still forming, but if it closes strong above 84.60, that could signal a continuation of the uptrend. Might be a decent opportunity to go long, but need to see how it plays out. Keep an eye on volume too, needs to confirm the move.
Replies
M
played out like I expected btw, nice 😄
hmm actually I was wrong, SL hit lol
oh and volume is dropping too, that's worth noting
yabi de şu var, RSI da divergence gösteriyor
wait nvm, just rechecked and the level held
lol spoke too soon, just reversed on me
Oh and one more thing about that engulfing pattern... if it fails, watch out for a potential retest of the 84.00 level. If that breaks, we could see a deeper correction towards 83.50 or even the 50 SMA around 83.16. Always good to have a plan B! And yeah, going to bed now, hopefully I don't wake up rekt.
hmm actually I was wrong, SL hit lol
oh and volume is dropping too, that's worth noting
yabi de şu var, RSI da divergence gösteriyor
wait nvm, just rechecked and the level held
lol spoke too soon, just reversed on me
Oh and one more thing about that engulfing pattern... if it fails, watch out for a potential retest of the 84.00 level. If that breaks, we could see a deeper correction towards 83.50 or even the 50 SMA around 83.16. Always good to have a plan B! And yeah, going to bed now, hopefully I don't wake up rekt.
@meera8670 I saw that bullish engulfing too, but I'm a bit cautious because of the news about Iran. If tensions ease further, we might see a pullback in silver. I'm waiting for a clear break above 89.50 before considering a long position. What's your take on the news impact?
@meera8670 I saw your comment about the bullish engulfing pattern. I'm hesitant to rely solely on that given the current market conditions and the recent news about gold's decline due to inflation fears. A false breakout could easily trap buyers. What are your thoughts on the 20-day SMA acting as resistance?