XAGNZD trade ideas
XAGNZD, 15min, rr 2.0 or 5min supertrend stop?Bull support on 1hr and 3hr. Spike down just a stop hunt?
XAGNZD 3hr targets 31.00 by 2june?AB = CD? Silver breakout in all pairs. NZD shows the most momentum? Likely to hit the 4th deviation band?
Bullish area developing - XAG NZDLast few months have had a weak downtrend - slow retracement.
Anticipating bars building up at upper end of current consolidation. Looking for strong bullish break on monthly.
Looked to buy in May and June - looking for the first decent break of structure to the upside. Creation of swing high which is higher than previous swing high. Follow that with a swing low higher than previous swing low.
1% risk per trade. To fine tune entry look for structure of this nature on 4HR or 1HR chart. Use daily candles to anticipate which will break out of the top of the consolidation. Potentially magnify reward to risk with entry intra-day if possible.
1% risk per trade if entry on 4HR break of structure
0.5% risk per trade if entry on 1HR break of structure
0.25% risk per trade if entry on 15min break of structure
Stop and risk calculated on last swing low or swing low previous to that - use a logical level.
Expectation is for price to move away from the breakout level within 3 days - close position if day closes below prior day low.
TP at logial next swing high - exit 1/3 or 1/2 of the position. Let the rest ride. Will add positions as more structure develops - go to smaller time frames to uncover structure if it cannot be seen on current time frame.
Market is fractal. Behaviour is consistent among any time frame. Focus is on monthly time frame and watching structure unfold on smaller time frames.
Looking for monthly increase in volatility after volatility contraction from last couple of months. Looking for a strong move from open to close without much of a down wick and close near monthly high. Trying to catch a meaningful monthly trend.... Silver is still in a downtrend and consolidation on the monthly chart. Plan is to anticipate trend change to upside and catching multi-month / multi-year move.
