Short

XAG/USD 20.11.2024

Updated

Hello Traders,

Here are my thoughts for the coming days/weeks/months, based on the Elliott Wave method:

It’s clear that we’ve topped out at wave (3).I anticipate seeing an ABC correction forming within the overall wave A to B. Fibonacci target levels for the smaller wave C can be drawn once wave B is established.
My plan is to short at the 78% Fibonacci level where also a high volume area is, stopploss would be above the last high take profit would be all the way down to wave 4. Along the way, I’m looking for a clean 1-2-3-4-5 setup from the larger wave (B) to the larger wave (C).

If you have any questions, feel free to ask! ;)

Trade active

Now have entered with a sell position. My small a to b setup is valid sl31.480 Tp in the fib area

Trade closed: target reached

sell closed

Note

Now searching for an B wave to C wave up. Sl under the fib levels
#

NeptenFX

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