XAGUSD: IS Bull poised to take over?
After 2 weeks of selling pressure, I finally see some evidence that Bulls are preparing to take over. If u notice, most of the high volume are traded on the up bars. Which indicates to me that Bulls are stepping in. There's only a lone high volume down bar and it happens at the lower range of the week. Perhaps an indication of panic selling? A case of Bears fear missing the boat? What makes this high volume down bar attracts my attention is, price consolidated for a while after the high volume down move. If professionals are selling the down bar, why isn't price going lower? Could it be that the selling are been absorbed by the professionals who are actually buying? Further Bullish evidence is that price actually break out higher from the consolidation. I have actually took a risky LONG at the consolidation zone. Will be looking for price to break out of Tue high and add LONG at pull back. A daily close below Wed low will negate the Bullish bias.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
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.
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.