Shorting Silver (XAG/USD)
Price action has maintained a falling direction with passably uniform cycles below the 10 ema and trend line resistance offering entries below conspicuous high test bars. The moving averages are in their correct order and fanning out pleasingly. Tonight's set up is also an entry below the high test bar that has rejected resistance at ~17.60 and bounced off the 10 ema potentially keeping the downward trend continuation intact.
For the trader who consults oscillators, this may not be an ideal short set up given the geography of the indicators.
entry - below high test bar
stop loss - above high test bar
target - initially previous low at 16.61, and then beyond if low broken
For the trader who consults oscillators, this may not be an ideal short set up given the geography of the indicators.
entry - below high test bar
stop loss - above high test bar
target - initially previous low at 16.61, and then beyond if low broken
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