The Silver Bullet? XAG/USD (Silver) Ichimoku long trade
Last week in the membership we were looking for a good size drawback but this sentiment was invalidated when support held on the daily chart. We are now looking to get into a trend continuation if we can catch a nice bullish breakout of the kumo. In addition to the breakout I also want to see that kumo twist complete and a golden (TK) cross to complete for the last bit of confirmation. When I'm looking at a potential target here I'm arbitrarily setting my TP at the recent price structure high, but if we can get to that level I will leave at least a quarter of a my position running in profit and just adjust my stop as it moves. If we fail to get our confirmations and bullish kumo breakout, this setup may become invalidated.
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.