XAGUSD / Silver - Idea
hey Guys,
Yearly Chart: Corrective mode since 2011 (Bearish Pressure)
2023 ->inside Bar closed above middle line -> Bullish
Conclusion = neutral - Happy to take both sides of the trade since we are seeing a balanced market since 2011.
Most important lines for a Breakout: 32.3
For Bears: 28.3
Until a clear break of 32.3 (on a closing base) I am still neutral - bearish on the yearly chart. Below 28.3 I am very Bearish.
Targets are mentioned above as well as below.
Quarterly: breakout above the inverted H&S Neckline with reaching all targets in one candle. - closed below 30.00 --> important High.
Monthly: Inside Bar at crucial line of 30.00 but still in a rising channel. Stochastic is turning down. Expected Sideways Formation for a while.
3D: Oversold area - likely to see a bounce from here to test the 32.3 area again. I will be happy to take a Signal from there since we are Consolidating at the Higher TFs as well and I would like to sell from that area again.
Thanks for reading…
Yearly Chart: Corrective mode since 2011 (Bearish Pressure)
2023 ->inside Bar closed above middle line -> Bullish
Conclusion = neutral - Happy to take both sides of the trade since we are seeing a balanced market since 2011.
Most important lines for a Breakout: 32.3
For Bears: 28.3
Until a clear break of 32.3 (on a closing base) I am still neutral - bearish on the yearly chart. Below 28.3 I am very Bearish.
Targets are mentioned above as well as below.
Quarterly: breakout above the inverted H&S Neckline with reaching all targets in one candle. - closed below 30.00 --> important High.
Monthly: Inside Bar at crucial line of 30.00 but still in a rising channel. Stochastic is turning down. Expected Sideways Formation for a while.
3D: Oversold area - likely to see a bounce from here to test the 32.3 area again. I will be happy to take a Signal from there since we are Consolidating at the Higher TFs as well and I would like to sell from that area again.
Thanks for reading…
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