XAGUSD Silver Ascending Triangle Break$out
Updated
Silver has broken a clear ascending triangle on the 4HR.
Should expect a $2.61 move based on the size of the pattern * 0.70 (chance of hitting target), making our goal ~1.82 or 7.5%
TP: ~26.10$
SL: Last lower bounds touch of triangle or ~23.00.
Bonus, this pattern takes us into a solid past resistance at approx 26.50, which if broken could lead to a mid term reversal into an up trend.
Wait for a restest if any, as we have missed the optimal entry on this one.
Link to Ascending Triangle info and percentages: thepatternsite.com/at.html
Should expect a $2.61 move based on the size of the pattern * 0.70 (chance of hitting target), making our goal ~1.82 or 7.5%
TP: ~26.10$
SL: Last lower bounds touch of triangle or ~23.00.
Bonus, this pattern takes us into a solid past resistance at approx 26.50, which if broken could lead to a mid term reversal into an up trend.
Wait for a restest if any, as we have missed the optimal entry on this one.
Link to Ascending Triangle info and percentages: thepatternsite.com/at.html
Note
Nearing TP without any retest. Sadly we missed the entry on this one , but still good for practice.Note
This could be our retest before a more forceful upward move.Wait for the price to test AND hold our top line before entry.
Note
Too many invalidation signs, we'll skip this one and wait for another patternOrder cancelled
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