On my personal major timeframe, XAGUSD is on bearish trend with a sideways price structure as secondary reaction. The structure hasn't give a strong indication that bearish continuation would be occurred.
There's a level that I can wait for a false break as the first sign at 26.59xx and my setup would be around 26.38xx area when the cleat sign of bearish continuation already there.
PS: I made this market outlook for my personal trading journal. If you found it pretty similar to your personal analysis then feel free to use it as a second opinion. If we have a different view then just skip it, there's so many factor in the market that would made us have a different view. I don't have any intention to give a market outlook or trading recommendation. I trade my way, you trade your way. We make our profits in separate way.
Trade closed manually
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The downside movement is weak and held by previous trendline, this structure is often an early indication of trend reversal and could form a wave 2. We'll see.