$XAGUSD $SLV #Silver repeating 2016

FX:XAGUSD   Silver / U.S. Dollar
Silver is a strange one, the chart looks like a volatility chart, ie sudden spikes up, which then slowly fade (unlike stocks which do the reverse).

The last cycle from Jun 16 to Jun 18 was a classic bearish descending triangle . Price action from summer 2019 looks remarkably similar to May 2016 onwards, we are now at Nov 2016, which means this is just the place to short for a 6.7:1 trade.

SELL 18.00 (MARKET), SL 18.50, TP 14.65, RR 6.7
Feb 17
Trade closed: stop reached: Stronger than expected. Stopped on Jan 8th. However triangle may still work.
David Atherton


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