XAG USD new potential demand zone at 61.8%
Updated
Hello traders and analysts,
Despite the huge sell off today - which has been anticipated as the price hit a great supply and completed a great W formation - Bears took over to retrace to our 61.8% zone [but not there yet to get buys in.
Prefer confirmation as this sell off was very impulsive.
Why are we going long still?
Well if the price is showing us - this 25$ zone is a great opportunity if price closes above if not, this zone is invalid.
But price on the higher timeframe has retraced to a demand imbalance and orders will be picked up - so from here we are expecting price to range between the 25-29zone. now the zones are established.
See our previous trades [still current]. We have closed one trade previous and still have the original running from 14.88$.
Enjoy looking through our previous trades to follow the journey to now.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Thanks,
Team Lupa
Despite the huge sell off today - which has been anticipated as the price hit a great supply and completed a great W formation - Bears took over to retrace to our 61.8% zone [but not there yet to get buys in.
Prefer confirmation as this sell off was very impulsive.
Why are we going long still?
Well if the price is showing us - this 25$ zone is a great opportunity if price closes above if not, this zone is invalid.
But price on the higher timeframe has retraced to a demand imbalance and orders will be picked up - so from here we are expecting price to range between the 25-29zone. now the zones are established.
See our previous trades [still current]. We have closed one trade previous and still have the original running from 14.88$.
Enjoy looking through our previous trades to follow the journey to now.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Thanks,
Team Lupa
Trade active
Related publications
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.