FullTimeTrader
Long

XAGUSD-bottoming?

FX:XAGUSD   Silver/U.S. Dollar
541 6 10
Looking at monty chart the price is bouncing from a long term support and trendline with double divergence on AO.
snapshot


On D1 chart:
- Two AB=CD patterns showing that corrective pattern WXY is finishing
- Bullish divergence on macd
- multiple candlesticks tails showing rejection from the area
- 0.61 fib projection of big WXY corrective structure
- double bottom

This could be the start of a long term rally.

Best regards.

mecom
a year ago
I agree & have a similar analysis with different tools and point of view. Thanks...
Reply
mhlafx
a year ago
Yes..... I agree 100% ..
Reply
Marvin
a year ago
Great call. Credit to you man. Let's hope she can tank higher now with a bit of momentum but it's hard going isn't it?
Reply
FullTimeTrader Marvin
a year ago
The targets are reachable. We must be carefull because this trade is inverse correlated with the USD collapse today, all markets are correlated.
+1 Reply
IvanLabrie PRO FullTimeTrader
a year ago
It's getting complex with correlations.
China buying luxury items affects the CHF and EUR, and thus USDCHF and EURUSD move.
But EURCHF is also moving up...really, really complex situation.
Reply
FullTimeTrader IvanLabrie
a year ago
Yes, yesterday China's rate news were unexpected and the market did crazy moves invalidating my technicall setups, we must be carefull.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out