On 1h scale reverse Cup & Handle are forming. Double bottom 2 may only result in making the Handle besides there is no RSI Bullish Divergence seen, therefore, planning on taking trade (Entry: Sell Stop) once it breaks Resistance level this will ensure that if Double bottom does play and take the trend upwards then my trade should not trigger. On the other hand, if trade triggers then it is likely to go downwards testing the length equal to cup height.
My trade values are depicted on Price chart.
My trade values are depicted on Price chart.
Note
On MT4 use symbol of XAGUSD for Silver/USD
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.