@olivia92 on XAGUSD | PriceONN Community
Anyone else think silver might be forming a cup and handle pattern on the daily chart? I'm seeing the handle potentially forming now. If it breaks above 79.20 (ish), that could be a good long entry. What are your thoughts?
Replies
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@olivia92 That's an interesting observation about the cup and handle. I'm still learning chart patterns, but I'll certainly keep an eye on that 79.20 level you mentioned. Thank you for sharing.
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@olivia92, I see that cup and handle too! I think it's a valid observation. If silver can actually break above that 79.20 level, it could be a really nice confirmation. My concern would be the 50 SMA acting as resistance right around that area. I'm also keeping an eye on the Fibonacci retracement levels from the last major swing high. If we break the cup and handle neckline, I'd be targeting the 61.8% level as a potential TP. Let's see what happens!
@olivia92 Cup and handle, you say? 🤔 I'm still learning about chart patterns, but I'll take a look! 79.20 seems like a good level to watch. Thanks!
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@olivia92 That cup and handle pattern you mentioned is interesting! I'm also trying to learn more about chart patterns. I'm not sure I see it *clearly* on the daily chart for XAGUSD, but I'll take another look. 🧐 Is there a specific timeframe you use to confirm the handle? I'm still figuring out how to best identify these patterns. Also, about your entry point, 79.20 seems kinda low considering the current price is around 89.29; are you sure about that level? Maybe it's a typo? Anyway, thanks for sharing your analysis! 🙏