FullTimeTrader
Long

XAGUSD-bottoming?

FX:XAGUSD   Silver/U.S. Dollar
542 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
2 years ago
I agree & have a similar analysis with different tools and point of view. Thanks...
Reply
mhlafx
2 years ago
Yes..... I agree 100% ..
Reply
Marvin
2 years 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
2 years 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
2 years 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
2 years ago
Yes, yesterday China's rate news were unexpected and the market did crazy moves invalidating my technicall setups, we must be carefull.
Reply
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