Silver to drop / flag on 4hSilver looks ready to fall on 4h, still a buy on daily.
Trade at your own risk!
XAGCAD trade ideas
Long observed long term adv. cypher XAGCADHello Traders,
Long observed for XAGCAD, R:R approx 1 to 1+
I will be glad and honored for your relections on the WXY and Harmonics - Adv Cypher
Thank you.
LOONIE SILVER ON THE RISESilver priced in the royal currency of Canada is about to test the downward trend line from the April high which so happens to be near the key 38.2% fib retrace of the descent from that high. Breaching this level would open the doors for an upside attempt at the $22.10 - $22.21 resistance (blue dashed line). After that, the price action can play out in several ways. For now, if those trend lines stand true ... silver will be just under 25 loonies just in time for my birthday. Shortly thereafter, the highs of September, 2016 will be in sight as the CUP N' HANDLE pattern unfolds.
LOONIE SILVER ON THE RISESilver priced in the royal currency of Canada is about to test the key 38.2% fib retrace of the descent from the April high. Breaching this level would open the doors for an upside attempt at the $22.10 - $22.21 resistance (blue dashed line). After that, the price action can play out in several ways. For now, if those trend lines stand true ... silver will be just under 25 loonies in mid-January. Shortly thereafter, the highs of September, 2016 will be in sight as the CUP N' HANDLE pattern unfolds.
Long on Canadian silverIt just hit long term up trend support zone, has room to move up within the triangle, 1st target is red line
SILVER/CAD XAG/CAD H4: A Buying OpportunityHere's why it's a potentially good buying opportunity:
- the up trend,
- likely support at: 1) the potential demand level, 2) 100% size of the prior correction and 3) the median line's lower parallel (MLH),
- a perfect match of the strong SILVER and the weak CAD, currently the former oversold and the latter overbought.
