XAGUSD - The Bull Game
Updated
Based on the conventional way of trading, support and resistance level will always work regardless of the market trending/ranging/consolidating.
As per the drawings shown on the chart, there is two heavy resistance bound to be tested this week. Support was clearly "Supported and "Hold" as the price didn't manage to "flush" it down during the market opening (No gaps or whatsoever).
With that being said, the candlestick were also supported by the Heikin Ashi/Renko candlesticks (Which is displayed on my MT4 platform) and not the platform shown in Trading View. Another good indication = Bullish.
So, stop selling and start buying.
Trade Type = Swing Trading
TP = Targeting the First or Second resistance. (1R or 2R).
Trend = Bullish
Till then, ciao.
As per the drawings shown on the chart, there is two heavy resistance bound to be tested this week. Support was clearly "Supported and "Hold" as the price didn't manage to "flush" it down during the market opening (No gaps or whatsoever).
With that being said, the candlestick were also supported by the Heikin Ashi/Renko candlesticks (Which is displayed on my MT4 platform) and not the platform shown in Trading View. Another good indication = Bullish.
So, stop selling and start buying.
Trade Type = Swing Trading
TP = Targeting the First or Second resistance. (1R or 2R).
Trend = Bullish
Till then, ciao.
Trade active
Trade is still running. It's pointless for me to close a trade that is still up and running. No signs of reversals or whatsoever. Bulls !Trade active
Expecting a reversals to happened soon. Two choices
1: Take profit now
2: Let the trade run to the targeted TP Level 1. (Might experienced a road bump = Reversals before reaching the TP level).
Trade closed manually
I closed my open trade manually grabbing 380 pips along the process. Suggestions: Trade can still be hold to the targeted TP level but it is safer to take half profit to see what happened next as the price is trying to break the daily High @17.210. If PA managed to break this level, scale in to Level 1 zone.
For now, I am out !
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