GOOD SHORT POSSIBLE FOR SILVER (XAGUSD)
Strong possibility that XAGUSD will continue to fall.
We can see that there is a channel of ABC and 12345 waves which are quite consistent.
It's still very early as it may be ending its channel.
It's now important to look for a flag or a correction that confirms a BULLISH movement, the formation of an uptrend channel as it breaks out.
Signifying a reversal instead. (In Blue)
A strong BEARISH movement followed by a flag will confirm the short.
Let me know what you think!
We can see that there is a channel of ABC and 12345 waves which are quite consistent.
It's still very early as it may be ending its channel.
It's now important to look for a flag or a correction that confirms a BULLISH movement, the formation of an uptrend channel as it breaks out.
Signifying a reversal instead. (In Blue)
A strong BEARISH movement followed by a flag will confirm the short.
Let me know what you think!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.