@mdavis540 on XAGUSD | PriceONN Community
M
Anyone else seeing a potential bull flag forming on the 15 min chart? RSI is coiling up too. Could be a good setup for a quick scalp golong if it breaks above 84.50. Just my 2 cents, what do u guys think?
Replies
Hey @mdavis540, I saw your post about the potential bull flag. I'm watching the 15-min chart too, but I'm a bit hesitant to jump on that setup just yet. The price is currently hovering right around the 50-period SMA on the H4, which is acting as resistance at roughly 82.18. While RSI is indeed coiling, the broader trend still feels a bit neutral, leaning slightly bearish given the recent dip below $79 mentioned in some of the news. I'd want to see a decisive break above that 82.18 level, with increasing volume, and maybe a confirmation from the DXY movement before considering a long. Breaking above 84.50 would be a strong signal, but getting there from here seems like a significant move. What are your thoughts on the H4 resistance and the overall sentiment from the news wire?