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Counter trend entry on a trend continuation setup (PART 2)We are on a bearish trend on the higher time frame, and we have not tested the support level that is "expected" to test. We look left and seek for the previous outside return for an opportunity to go short. The market went over bought, and I am now waiting for a double top to enter. One could certainly look to trail second targets for a retest of the lows. However, we have two structure levels that may act as support if we go lower, of course. I require a 1:1 and we easily get a 1 : 1.4 to target 1 and a 1 : 2.4 to targets 2, so that is enough for me. Share your opinions! We can learn from each other!
Short
by GasperiniGS
GOLD SILVER RATIOSHigher Gold and Silver ratios usually mean lower precious metals prices. By the looks of this chart, it seems likely that Gold and Silver mights still have one or two legs lower before this Bearish Broadening Formation plays out with a higher high as it test the top of channel at around 88 On a better note, looks like Gold and Silver are due for a huge move to the upside as this Formation comes into play and these ratios find themselves going downtown! 88-92 area has to hold Like and follow for trade updates and new trade ideas
FX:XAUUSDLong
by papeeeboy