mohemati

#XAGUSD SILVER LONGTERM BUYING OPPORTUNITY

Long
TVC:SILVER   CFDs on Silver (US$ / OZ)
In Weekly time frame price has formed a line formation, and currently siting on a support area . As a result of this important support area price structure in 4H time frame has shifted to bullish as you can see and price is creating a HH and HL.

Now price is above 4H timeframe 144 EMA and also price is in bearish corrective move for retesting a previous resistance area which because of price bullish move has turned to support.

in lower time frames we have bullish divergence which is another confluence for our trading idea.

Now if price fail to come below the 23.045$ which is our previous low and manage to create a HL comparing to that low in 1H time frame we can technically say this lower time bearish corrective move has ended and we can look for buying opportunity today.

We should remember this is a long term buying opportunity and our target could be around the high of this weekly time frame line formation which is around 29$, so use a wide and good stop loss in order not to get stopped out of this big bullish move in line with your trading strategy.
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