XAGUSD Weekly Accumulation Zone
Updated
Currently looking for one final leg down between 15.9 and 16.3
This appears to be a pretty decent risk reward play .I'll be looking to accumulate in 15.9 and 16.3
If we make a lower low on the weekly breaking the 15.7 level , I'll get stopped and re evaluate this at 15.1 or so.
Stoch RSI on the weekly seems overextended on the sell side. As of now long term bullish trend is still in play so sticking with the plan.
Take Profits at
17.4 - 20 %
18.3 - 20 %
19.4 - 20 %
21 - 20 %
26/27 - 20%
This appears to be a pretty decent risk reward play .I'll be looking to accumulate in 15.9 and 16.3
If we make a lower low on the weekly breaking the 15.7 level , I'll get stopped and re evaluate this at 15.1 or so.
Stoch RSI on the weekly seems overextended on the sell side. As of now long term bullish trend is still in play so sticking with the plan.
Take Profits at
17.4 - 20 %
18.3 - 20 %
19.4 - 20 %
21 - 20 %
26/27 - 20%
Note
Hit the second profit target right there, looks like precious metals might rally into the new year.Re entry at 17.039 if we get a weekly retrace
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