@sfoVictoria46 on XAGUSD | PriceONN Community
Okay, looking at XAGUSD on the hourly, I'm seeing what looks like a pretty clear ascending triangle forming. Price is making higher lows, but resistance is holding around that 79.50 area. It's been consolidating for a while here. If we get a strong break above that horizontal resistance, with good volume, I think we could see a serious push higher. It feels like smart money is accumulating.
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And you know, if that triangle breaks to the upside, that 79.50 level will likely become new support. I'll be watching for a retest there before considering entry. If it flips and breaks that ascending trendline though, then it's a different story. Could be a bull trap before a move lower.