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Silver / U.S. Dollar
Long

Buy XAGUSD LONG current Market to 29.20

By Easy_Explosive_Trading
Updated
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

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Comment
Sorry buy up until 29.10
SL 28.80
Trade active
Let's take a partial profit at 29.40 for Silver
Comment
Recent Fib retracement complete in Silver;
Trade active
Long Silver at current prices
* resistance currently in gold price 2490 to 2500 Pyscological barrier.
Comment
Gold price had heavy resistance under the 1M 20EMA but has just broken through 2490 again.
Trade active
Long Silver......Be aware that 2500 is npw strong resistance for the Gold price...USDX is down so far today...that is good.
Comment
The gold price got rejected around 2490 again but has since pushed up through this resistance....need to break 2500 soon.
Trade active
Long Silver for 30 minutes now.

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

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Comment
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.

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Comment
USDX left of screen my apologies.
Trade active
Gold price is still getting rejected around 2490

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

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buysilverChart PatternsTrend AnalysisWave AnalysisXAG USD ( Silver / US Dollar)

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