Case 1:
Symmetric triangle pattern in silver and silver to gold ratio at an important resistance. If the resistance is crossed, silver may outperformed gold in this bullish cycle.
Also, if volume supports, this can be bullish wave 5 (Elliott Wave Count)
Case 2:
On the contrary, if the volume does not support and this just makes a new high and return back, then will have to recount it as correction bull in bear wave and look for divergence in Volume oscillator and in RSI for activating bear trade.
Probable
But probably, it maybe the bullish wave. lets see the volume at the end of day and open interest too.
Symmetric triangle pattern in silver and silver to gold ratio at an important resistance. If the resistance is crossed, silver may outperformed gold in this bullish cycle.
Also, if volume supports, this can be bullish wave 5 (Elliott Wave Count)
Case 2:
On the contrary, if the volume does not support and this just makes a new high and return back, then will have to recount it as correction bull in bear wave and look for divergence in Volume oscillator and in RSI for activating bear trade.
Probable
But probably, it maybe the bullish wave. lets see the volume at the end of day and open interest too.
Comment:
Book Profit
Trade closed: target reached:
Book part profit, trail SL to even out the trade.
Comment:
The trade has closed. But just commenting a thought that crossed my mind, XAGUSD/XAUUSD has now crossed 1.414 ratio as shown in graph and reached 1.618 (extension).
In my opinion, silver may rest for a time and gold might see the bulls.
Or, we may see the ratio of XAGUSD/XAUUSD in range for now.
In my opinion, silver may rest for a time and gold might see the bulls.
Or, we may see the ratio of XAGUSD/XAUUSD in range for now.