XAGJPY finishes New York trade about 0.9% down..
Updated
https://www.tradingview.com/x/zUNrKyIp/
XAGJPY is a short I took due to negative divergence on the daily stochastics. It turns out that regular Silver XAGUSD is facing a similar fate of hidden divergence on the daily stochastics.
XAGJPY has finished under the 50 EMA on the 1HR chart which is not a great position to be going into the Oceania session in NZ in about 90 minutes.
XAGJPY is a short I took due to negative divergence on the daily stochastics. It turns out that regular Silver XAGUSD is facing a similar fate of hidden divergence on the daily stochastics.
XAGJPY has finished under the 50 EMA on the 1HR chart which is not a great position to be going into the Oceania session in NZ in about 90 minutes.
Trade active
XAGJPY Hidden-Negative-Divergence Daily-Timeframe from 11 July until now.
Price could be weak once the blue D Stochastics starts hitting down on the 80 level.
* Thanks for reading, remember to also do your own research, don't rely solely on my financial advice on which trades to take.
Note
Trade active
I am still short on Silver for the time being. In addition to negative hidden Stochastic-divergence on the Daily timeframes for XAGUSD & XAGJPY, there is also further bearishness with no less than 3 Head 'N' Shoulders on the 5m, 15m and 30m timeframes. See charts below.
Trade active
Whether the H & S patterns play-out to the downside will depend on a couple of things.
(i) The right shoulders remain in play. If further positive price-action occurs the right shoulders will be taken out by ascending price.
(ii) Further weakness in price to get under the neck-line.
* Trading is risky. Don't rely solely on my setups & financial advice.
Regards,
Chris
Trade closed manually
Long is long....Gold too strong...5m break of structure and moving to retest highs
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.