Silver OANDA:XAGUSD
Let's take a closer look at Silver , a precious metal known for its notable volatility compared to Gold. Initiating our count post the COVID fall, a swift Wave (1) movement unfolded, followed by an extensive Wave (2) correction featuring a Flat pattern and subsequently a Zigzag for Wave (2). The completion of Wave (2) occurred around...
The price reached the previous highs. It created a double top and crossed the uptrend line. Also RSI reacted to the overbought and started to 'look' downwards.
Great potential here for positions that will stay open for a few days or maybe couple of week in order to be profitable.
SXP Uptrend Looks fine, a Few Tests for Support levels are needed every once in a while, No technical marks indicating a freefall.
Trade Infos>>>>>
Trade Type: Swing
Average Time: 1 Month
Wallet % : 10%
Entry Area: 3.8 - 3.3
TP: New All Time High ( 6.35 ) - Could be changed if higher than expected when updating the trend
Estimated Profit: Average 80% - Lowest...
