Buy XAGUSD LONG current Market to 29.20

https://www.tradingview.com/x/luZKgVI4/

Gold rallying in open of Asian session.

Let's run a cautious LONG on silver at current price

We can see the Gold price showing strength so far in rising wedges on lower timeframes

Note

Sorry buy up until 29.10
SL 28.80

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Let's take a partial profit at 29.40 for Silver

Note

Recent Fib retracement complete in Silver;

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Long Silver at current prices
* resistance currently in gold price 2490 to 2500 Pyscological barrier.

Note

Gold price had heavy resistance under the 1M 20EMA but has just broken through 2490 again.

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Long Silver......Be aware that 2500 is npw strong resistance for the Gold price...USDX is down so far today...that is good.

Note

The gold price got rejected around 2490 again but has since pushed up through this resistance....need to break 2500 soon.

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Long Silver for 30 minutes now.

the gold price needs a strong push upwards to. 2500 or selling and topping will form.

Note

the gold price is getting support on the 1m 50 EMA.. Any break down of this EMA and I will close the LONG in silver

Trade closed: target reached

Gold not getting the support I want to see.

Note

You can see here 2 x red resistance areas. Also I would prefer to see the Gold price get above our blue 50 EMA on the 1 hour chart. Gold price started strong but met a lot resistance from 2490 to 2500.
If you have a trailing stop on silver you might be still good....

Note

USDX breaks support downwards on an MTOP formation.
However, it will in all liklihood play-out it's move downward soon and start retracing upwards... Gold will then fall again sustainably.

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Short trade in Gold soon perhaps.
See here where the gold price if forming up under the 20ema light blue and 50ema dark blue.
There is also a cross-down of the 20ema under the 50ema.

Note

Rejection of upwards movement in price as the 20EMA crosses below the 50EMA. USDX right of screen is about to finish falling from an MTOP breach lower. It may start climbing again soon after finding support in the green zone left of screen.

Note

USDX left of screen my apologies.

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Gold price is still getting rejected around 2490

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SHORT GOLD:
Place a couple of sell stops (low lot size) around the 2487.40 area.
Stop Loss: 28.90

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Short Gold: Sell Stop or Sell Market 2487.40
SL: 28.90

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Short Gold @ 2487.50 down to 2487.30
SL: 2488.80-90

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