XAGUSD bounces up from VWAP LONG
Updated
XAGUSD on the 15 minute chart- bounced off an intermediate term anchored
VWAP during the middle of the NY session. The Relative Trend Index indicator
and the Z-score are confirmatory. Price is now trending on the line of 2 standar
deviations above the mean VWAP line . I will open a trade here targeting
25.25 expecting a rise to the third deviation line in green before price should
hit some dynamic resistance. This would be about 1% ROI but leveraged on
forex several multiples of that. At the same time, I will review the AGQ ETF.
I expect the majority of the price rise to be at the overlap of the upcoming
London and NY sessions when trading volumes and volatility will be at their
highest.
VWAP during the middle of the NY session. The Relative Trend Index indicator
and the Z-score are confirmatory. Price is now trending on the line of 2 standar
deviations above the mean VWAP line . I will open a trade here targeting
25.25 expecting a rise to the third deviation line in green before price should
hit some dynamic resistance. This would be about 1% ROI but leveraged on
forex several multiples of that. At the same time, I will review the AGQ ETF.
I expect the majority of the price rise to be at the overlap of the upcoming
London and NY sessions when trading volumes and volatility will be at their
highest.
Trade active
Stop loss raised on 0.55% price movement Holding a full leveraged position now risk free, will look to take a partial on Friday before the afternoon selloff.
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