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.

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.

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?
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
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.
FullTimeTrader IvanLabrie
Yes, yesterday China's rate news were unexpected and the market did crazy moves invalidating my technicall setups, we must be carefull.
Yes..... I agree 100% ..
I agree & have a similar analysis with different tools and point of view. Thanks...
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