TheSignalyst

When you go to buy, don't show your Silver!

TheSignalyst Updated   
OANDA:XAGUSD   Silver / U.S. Dollar
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

๐Ÿ“ˆ XAGUSD has been overall bullish, trading within the rising wedge in blue.

Currently, XAGUSD is undergoing a correction phase and it is currently approaching the lower bound of the wedge.

Moreover, it is retesting the previous major high marked in green.

๐Ÿน Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the green previous high and lower blue trendline acting as a non-horizontal support.

๐Ÿ“š As per my trading style:
As #SILVER approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

๐Ÿ“š Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
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