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.

old lo is brake the how is posible and long tram
trandline reg under trade
But the stoch in daily show a overbought situation, will it still have a possibility to rise?
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.
BLKS FullTimeTrader
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.
FlameBlazer FullTimeTrader
in this case the divergence on A0 is a CONFIRMATION for the setup. Regards.
Please shed more light on us
FullTimeTrader FlameBlazer
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......
FlameBlazer FullTimeTrader
I didn't understand what is mean't by AO here. Novice here
FullTimeTrader FlameBlazer
AO=Awesome Oscillator
MichealRaymond FullTimeTrader
thanks for the great analysis Friend .. so you mean there is no divergence ?
FullTimeTrader MichealRaymond
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.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out