XAGUSD | New perspective

Despite been on a long term bearish momentum since the beginning of the year, the breakout of the bearish trend line on the daily timeframe a couple of weeks ago opened up the possibility of a potential reversal pattern in the coming week(s). However, since the breakout of the trendline we have noticed the appearance of a consolidation phase just above the $21.000 zone which also reflects selling pressure in the last 2 weeks.

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade closed: target reached:

The week as started on a bearish tone as the price retested the key level identified in the video at the $21.00 level. A channel has been identified within the $21.00 and $20.70 zone hence the need to wait out for signals to take advantage of an opportunity.

Good morning

Trade active:

Price takes out the sell position at break even. I still anticipate selling momentum below the $20.70 level.

Trade active:

We continue to look out for selling opportunities. However, a breakout of the bearish trend line might incite a bullish signal.

Good morning

Trade active:

Despite expecting a bearish momentum since the beginning of the week; the appearance of buy pressure above the $21.00 level after a successful breakout of this structure during the early hours of today might incite a temporary bullish momentum into the sell window.

Trade active:

After being taken out of the buy position at break even, buy pressure continues to exist around the $21.00 area. We are also taken into consideration that there are major events coming up today (Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).

Good morning

Trade active:

UPDATE

Secure position

Trade active:

Secure buy position as sellers continues to reject the $21.40/21/20 level in the last 20 hours and if a breakout/retest of this zone happens additional position MAY be added. It is also important to take note of the sell zone identified on the chart when adding a position.
I shall be going live in 10 minutes, you might want to join us.

Trade active:

This was discussed in detail during the live session today (video will be uploaded soon on my youtub); Secure position as we monitor how price relates to the bearish trendline

Trade active:

FOMC coming up in 10 minutes... A huge spike is very likely at this juncture.

Trade active:

Price within the sell window; looking for selling pressure below the 21.40 level

Trade active:

Secure buy position(s)

Trade active:

Over 600 pips in profit; Price is within the sell window and selling pressure begins to appear. Is it time to sell? Looking at selling opportunities at breakdown/retest of the $21.50.

Good morning

Trade active:

Following a prolonged sell pressure within the sell window, we finally witnessed a breakdown of the $21.50 level and this could be a signal that profit-taking activities might likely happen as we head into the last trading day of the week.

Trade active:

Sell position triggered; secure position as we look forward to opportunities to add a position.

Good morning

Trade active:

QUICK UPDATE

secure position as the price breaks down the $21.40, a retest of structure on a lower time frame will welcome another opportunity to add a position.

Trade active:

This set up was detailed during our live session today (video uploaded on my youtub channel); the Second position is triggered as price breakdown/retest the $21.40 level; secure both positions.

Trade closed manually:

Price takes out both positions with a small profit; I am done for the week.
Congratulations on the profitable journey this week!

Happy weekend to you