XAGUSD completing point (c) on the idea I shared earlier. I re-entered with XAU long when it retested the bullish triangle and moves back upward. It is now in the supply zone so I expected we should see point (c) forming very soon. Once it breaks the uptrend in the supply zone, it will move down to point (d).
If you're long on XAUUSD, you might want to TP soon. If not, wait for the optimum position to short XAG.
If you're long on XAUUSD, you might want to TP soon. If not, wait for the optimum position to short XAG.
Note
Looks like point C is locked in. But given the DXY drop this morning, let's wait for a few more bearish candle before shorting the move downNote
XAG went above and beyond to retest previous 18.40 high; and was rejected. It is now testing 18.26 support and any break will bring it down to 17.94 supply zone. Good for a short setup if you're a risk taker. Recommend small lot and add on if the trends move in bearish.Trade closed: target reached
Related publications
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.
Related publications
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.