Bearish BAT setup. tp may change according to reversal zone
Short XAGUSD-16.98$ Stoploss-17.43$ Target1 Price-16.55$ Target2 Price-16.10$
Hello Traders, As shown in the chart silver it loves the triangle , you can see in the chart many triangles, which in the case of breaking silver exploded up. enjoy.
Pattern: 1D Bullish Channel supported on Higher Lows. Signal: Bullish once the price breaks the 1D MA50 and reverses. This is a standard sequence on every Silver uptrend (see the chart below). The ideal long term Buy Zone is within 16.625 - 17.365. Target: Initial target 19.500. Extension much higher, updates will follow.
Pattern: 1D Channel Up. Signal: Bullish as the price is on the way to the next Higher High on the 1W Resistance. Target: 18.200 and 18.800 in extension for the next Higher High if the pattern (-2.50% Support) holds.
I caught the bullish rally, even continued it after. Bottom call: Continuation: Now I'm turning bearish on XAGUSD. ----------------------------- XAGUSD - SELL (Short) Trading Signal - Intraday Entry @ Market Price (approx. 17.30) SL @ 17.65 TP @ 16.80 / 16.50 / 16.15 / 15.80 / 15.50 / 15.25 / 15.00 ----------------------------- As always, Many pips...
Pattern: Channel Up on 1D. Signal: Bullish as the price broke the 1D Resistance. Target: 17.250 (just below the 1W Resistance).
Pattern: Ascending Triangle on 4H. Signal: Bearish after the 1D Resistance is being tested for the 3rd time (possibility for a Triple Top). Target: The 4H Support levels (14.900, 14.760, 14.630).
Pattern: Channel Down on 1D. Signal: Bearish as long as the Lower High sequence holds. Target: 14.400 and if the price bounces back to the resistance then aim at 14.250.
Pattern: Channel Down on 1D. Signal: Bullish as the inner Lower Low trend line has been touched. Target: 14.900 (estimated Lower High).
Pattern: Falling Wedge on 1D. Signal: Bearish if the pattern breaks downwards, bullish if the pattern breaks upwards. Target: 14.500 is it breaks downwards, 15.350 if it breaks upwards.
Pattern: Ascending Triangle on 4H. Signal: Bullish after a Low was made. Target: 15.5000 (the 1D Resistance).