XAGJPY finishes New York trade about 0.9% down..
Updated
https://www.tradingview.com/x/zUNrKyIp/
XAGJPY is a short I took due to negative divergence on the daily stochastics. It turns out that regular Silver XAGUSD is facing a similar fate of hidden divergence on the daily stochastics.
XAGJPY has finished under the 50 EMA on the 1HR chart which is not a great position to be going into the Oceania session in NZ in about 90 minutes.
XAGJPY is a short I took due to negative divergence on the daily stochastics. It turns out that regular Silver XAGUSD is facing a similar fate of hidden divergence on the daily stochastics.
XAGJPY has finished under the 50 EMA on the 1HR chart which is not a great position to be going into the Oceania session in NZ in about 90 minutes.
Trade active
XAGJPY Hidden-Negative-Divergence Daily-Timeframe from 11 July until now.
Price could be weak once the blue D Stochastics starts hitting down on the 80 level.
* Thanks for reading, remember to also do your own research, don't rely solely on my financial advice on which trades to take.
Comment
Trade active
I am still short on Silver for the time being. In addition to negative hidden Stochastic-divergence on the Daily timeframes for XAGUSD & XAGJPY, there is also further bearishness with no less than 3 Head 'N' Shoulders on the 5m, 15m and 30m timeframes. See charts below.
Trade active
Whether the H & S patterns play-out to the downside will depend on a couple of things.
(i) The right shoulders remain in play. If further positive price-action occurs the right shoulders will be taken out by ascending price.
(ii) Further weakness in price to get under the neck-line.
* Trading is risky. Don't rely solely on my setups & financial advice.
Regards,
Chris
Trade closed manually
Long is long....Gold too strong...5m break of structure and moving to retest highs
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