Long

XAGUSD | New perspective

Updated

With the identification of a reversal pattern above a strong demand zone in the 4H timeframe, I am of the opinion that we might be witnessing buying traction during the course of the new week's trading session.

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active

UPDATE

Good morning

Trade active

Still waiting for structures

Good morning

Trade active

Price test the 50% retracement of the previous impulse leg, lets see if there is going to be a reversal pattern on lower time frame to join the potential rally

Trade active

Within the last four hours, Buying pressure surfaces within the buy zone identified in the video

Trade active

UPDATE
300pips in profit, securing position

Trade active

UPDATE
Over 600pips in profit; Breakout/retest of the $19.50 level will welcome addition of position this trade.

Good morning

Trade active

UPDATE

Second position triggered; securing position

Trade active

Move stop-loss accordingly to protect the current position against sudden reversal as we begin to notice buying traction for the US Dollar.

Trade active

Ensure stop-loss is moved. There is the possibility of the breakdown of the $19.50 level which could lead to the retracement of the impulse leg in anticipation of a trend continuation. LEts see what happens in the next couple of hours.

Good morning

Trade active

We discussed this during our live session today (uploaded on youtub); the price has continued to move as expected and if a breakout/retest of the $19.70 level happens then we plan to add another position to the existing trade.

Trade active

Stopped out with about 5oo pips. Selling pressure can be observed below the $19.70 level in the last 48 hours as price action was caught within a channel. However, the breakdown of the $19.50 level during the NY session yesterday is a sign that sellers are still strong at this juncture int he market hence looking forward to selling the breakdown/retest of the $19.50 level going into the last trading of the week.

GOod morning

Trade active

UPDATE

We have a signal

Trade active

Over 300pips in profit; while we secure the current position, lets see if the market will present a second chance to add position or enter at fresh (if the current bearish momentum was missed)

Trade active

UPDATE

Secure position

Trade active

UPDATE

Position added

darcsherry

Trade smart. Trade consciously

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XAGUSD | New perspective

by darcsherry

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