Silver / U.S. DollarShort
XAGUSD SHORT DEC-13-21
I'm entering Silver short
Daily: Silver has tapped and rejected (so far) from the 9MA, showing a continuation in short-term momentum. Besides that, 20MA & 50MA bearish crossover also supported this idea on the HTF.
Looking on weekly, we've also closed bearish
and with the 4H closing below Major level of resistance as a fakeout, this adds to the confluence that LDN open would drive volume into Silver and potentially trade lower.
As for entry, there's 4 consecutive 30m candle which rejected 22.28/Oz, with the previous candle closing weak bearish engulfing. I'm not trying to be the most precise on entry, but I want to enter at a fair-discounted price and capitalise on the bandwagon
The only thing that I'm concerned about is the LTF HL HH market structure that I'm shorting into.
Daily: Silver has tapped and rejected (so far) from the 9MA, showing a continuation in short-term momentum. Besides that, 20MA & 50MA bearish crossover also supported this idea on the HTF.
Looking on weekly, we've also closed bearish
and with the 4H closing below Major level of resistance as a fakeout, this adds to the confluence that LDN open would drive volume into Silver and potentially trade lower.
As for entry, there's 4 consecutive 30m candle which rejected 22.28/Oz, with the previous candle closing weak bearish engulfing. I'm not trying to be the most precise on entry, but I want to enter at a fair-discounted price and capitalise on the bandwagon
The only thing that I'm concerned about is the LTF HL HH market structure that I'm shorting into.
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