XAGUSD Huge sell opportunity
Silver (XAGUSD) has been trading since September exactly like we wanted it to, as we have been tracking its long-term Channel Down pattern correctly:
Our 1D MA200 (orange trend-line) target has been hit, with the price also marginally breaking above the top (Lower Highs trend-line) of the Channel Down (Fibonacci level 1.0). That doesn't call for a bullish extension towards the 1.382 Fib like the Ukraine - Russia was extreme did, as the price quickly retraced back below the 1D MA200.
This continues to replicate the rebound after the Internal Lower Lows, which is the fractal that helped us take that buy trade on September. That sequence, following the 1D MA200 rejection, pulled-back to the 0.236 Fibonacci level. Since the current top on the September - November bullish leg was made a Fib level higher, we are setting the targeted low higher as well, on the 0.382 Fib instead of the 0.236.
The next buy opportunity would be when the 1D RSI hits the 30.000 oversold barrier again.
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Our 1D MA200 (orange trend-line) target has been hit, with the price also marginally breaking above the top (Lower Highs trend-line) of the Channel Down (Fibonacci level 1.0). That doesn't call for a bullish extension towards the 1.382 Fib like the Ukraine - Russia was extreme did, as the price quickly retraced back below the 1D MA200.
This continues to replicate the rebound after the Internal Lower Lows, which is the fractal that helped us take that buy trade on September. That sequence, following the 1D MA200 rejection, pulled-back to the 0.236 Fibonacci level. Since the current top on the September - November bullish leg was made a Fib level higher, we are setting the targeted low higher as well, on the 0.382 Fib instead of the 0.236.
The next buy opportunity would be when the 1D RSI hits the 30.000 oversold barrier again.
-------------------------------------------------------------------------------
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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