@jthomas628 on XAGUSD | PriceONN Community

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jthomas628 PRO newbie
XAGUSD Mar 11
Been watching XAGUSD all day and I think I'm seeing a descending triangle forming on the H4 chart. Lower highs consistently hitting resistance around 86.00-86.20, while support seems to be holding around 85.00 for now. If it breaks that support, we could see a pretty significant move downwards, possibly testing S2 at 84.87. I'm waiting for a confirmed breakout with volume before entering short. Could be a nice scalp opportunity if it plays out. Still, gotta be careful with all the volatility from the oil news... might invalidate the pattern. Will keep an eye on it into the close.
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