XAGUSD preparing for a rally.
Updated
XAG feel strongly in the last few days and it seems that it has now completed an ABC pattern. The decline looks aggressive and it could be an impulse to the downside, but I choose to label it as ABC because the internal waves suggest that wave B is a triangle and therefore it cannot be a wave 2.
That said, I expect silver to rally significantly in the following session, towards the ultimate target at ~34 dollars.
BUY at market (~28.05)
SL at 27.70 (yesterday's low)
TP at ~34 (to be adjusted with price action)
That said, I expect silver to rally significantly in the following session, towards the ultimate target at ~34 dollars.
BUY at market (~28.05)
SL at 27.70 (yesterday's low)
TP at ~34 (to be adjusted with price action)
Trade closed: stop reached
One more wave down to stop me out. That's fine. It appears it will in fact continue higher. However, I am not opening another trade on this.
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