XAGUSD Double Top
Updated
Hello Friends,
Price has bounced off the resistance line with the last four H4 candles, It looks like a short is in order for this pair unless we get a close on the H4 above current resistance, If that happens, then we will be looking for the next resistance level for a short @ 18.10 or 18.89.
Cheers!
Price has bounced off the resistance line with the last four H4 candles, It looks like a short is in order for this pair unless we get a close on the H4 above current resistance, If that happens, then we will be looking for the next resistance level for a short @ 18.10 or 18.89.
Cheers!
Note
Wait for confirmation of a reversal, there is always a B wave to retest the top. Hedge funds are still long on metals but closing positions on the way up, so I expect a reversal soon but at the same time we are seeing MM's accumulating shorts for liquidity to drive the price in the direction they want.Note
This could be a fakeout and a sign of a reversal. Wick up then down to liquidate the shorts for MM's shorts.Note
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