A LONG's Chart so much better than Gold at the moment. See below
https://www.tradingview.com/x/qN8NSuj0/
This is a Silver play XAG JPY. Earlier today in the Asian session I noticed some momentum in its price for Longs. Then when I pulled up the Daily I saw the recent negative bearish sell-off on the Daily in relation to the TOPPING formation.
But this bearish pattern has completed and price is snapping back.
But it gets better!!
On this daily chart notice my yellow 9ema which is almost vertical in nature at the moment. Once it crosses the dark blue 50ema a lot of buy orders will trigger and this will then become a very strong BUY opportunity. We are about 0.6% away from the cross.
Further, I do not like the Gold chart at present for Long-entries. There is possible further price weakness in gold and of course this could drag down precious metals in general. However, the Silver price is diverging away from gold a bit and is much stronger in its price action at the present.
I have an alert set. I will keep you posted.
regards,
Chris.
This is a Silver play XAG JPY. Earlier today in the Asian session I noticed some momentum in its price for Longs. Then when I pulled up the Daily I saw the recent negative bearish sell-off on the Daily in relation to the TOPPING formation.
But this bearish pattern has completed and price is snapping back.
But it gets better!!
On this daily chart notice my yellow 9ema which is almost vertical in nature at the moment. Once it crosses the dark blue 50ema a lot of buy orders will trigger and this will then become a very strong BUY opportunity. We are about 0.6% away from the cross.
Further, I do not like the Gold chart at present for Long-entries. There is possible further price weakness in gold and of course this could drag down precious metals in general. However, the Silver price is diverging away from gold a bit and is much stronger in its price action at the present.
I have an alert set. I will keep you posted.
regards,
Chris.
Note
There is also this bullish H n S pattern playing out right now on the 4HR and 2HR for XAG JPY. I am not sufficiently satisfied that price has retested the neck-zone. I think its safe to say this thing wants to pop to the upside pretty soon.
Note
This neckline is a bit more accurate.
Note
Wait there's more.
A possible trade in bitcoin right now.
Please see chart
easy_explosive_trader
Chris
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.