FullTimeTrader
Long

XAGUSD-ready to reach new highs

FX:XAGUSD   Silver/U.S. Dollar
888 10 17
My bias is bullish on silver             along with USD weakness for next weeks.
Technically we see price broke a clear downtrend and made its first HH (higher high).
Right now is making a shallow pullback to a strong S/R and from my point of view will continue the rally.
Convergence on AO shows the expected next price movement.
I will take profits and add to my long positions here.
Regards.

BLKS
a year ago
But the stoch in daily show a overbought situation, will it still have a possibility to rise?
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FullTimeTrader BLKS
a year ago
Hello, its a big mistake to trade based on indicators. They are only tools for confirmation, in this case the divergence on A0 is a CONFIRMATION for the setup. Regards.
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BLKS FullTimeTrader
a year ago
Yes,i agree with that.But i not so good in naked chart trading right now,so i am trying to learn more about it.
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FlameBlazer FullTimeTrader
a year ago
in this case the divergence on A0 is a CONFIRMATION for the setup. Regards.
Please shed more light on us
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FullTimeTrader FlameBlazer
a year ago
Hello, the chart is clear its a CONVERGENCE on AO. Can you share your chart please? may be you have another setup to consider....... I prefer to share ideas......
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FlameBlazer FullTimeTrader
a year ago
I didn't understand what is mean't by AO here. Novice here
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FullTimeTrader FlameBlazer
a year ago
AO=Awesome Oscillator
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MichealRaymond FullTimeTrader
a year ago
thanks for the great analysis Friend .. so you mean there is no divergence ?
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FullTimeTrader MichealRaymond
a year ago
Im not talking about a simple divergence or convergence on my chart, indicators are only tools and not the basis for trading.
There is hole trading system behing called Convergence-Divergence. In simple words: after a clear downtrend first convergence is the confirmation for a trend change. Then i wait for a pullback because sooner or later price should reach the level of first convergence and exceed it (16.04). So this gives me the direction of next trade and i can focus only on longs.
Combining this with support and resistance and candles i think this is a good entry for a long.
Regards.
+1 Reply
old lo is brake the how is posible and long tram
trandline reg under trade
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