XAGUSD reentry of previous analysis. we see a clear uptrend followed by a few retests on previous highs which now act as a support level for new highs!
Comment below:
Enter reason: Double top (resistance zone) + Tweezer top + one more bearish confirmation candlestick. Plus the m.a. crossed.
Comments are very welcome!
We see a clear level (Box) where price bounces off in both ways. Last bounce was to the top so the whole game changed directions. I will expect a direct pull off to the top or a little tap into the 61.8 fib level before we go for longtime-longs. Time for bitcoin could be soon!
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What we see here is a typical downtrend and a possible trend continuation: Some accumulation and breakout to the downside with a clear bearish h4 candle. Good risk /reward is worth it a try because this pattern works most of the times. The only thing that could stop us is a manipulation or hard news.. so take care.
Feel free to leave your thoughts below!
Lower lows with a clear level where bounce offs are happening. Trendline for an over all-direction downwards. Great risk/reward.
Feel free to leave additional ideas or thoughts in the comments below!
