Worth_The_Ri5k

#Silver : Possible bull flag setup

Long
OANDA:XAGUSD   Silver / U.S. Dollar
We need to watch the price action on silver

The structue of the flag needs to keep forming and a rsi / stoch reset with a pin bar shakeing out traders at the bottom flag support may be a sign of good entry.

If the flag structure does not appear, or fails then we are looking at 23$-22.5$ again
Comment: Looks perfect so far, lets see how we go
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Comments

@Worth_The_Ri5k , seems like some consolidation going on before next push up, you reckon?
Reply
@theg7200, Cant really say up or down just yet. I exited my position with a decent little profit earlier.

But yeah the consolidation is there and a close above or below the range can give us a clear direction in the short term.

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I don't mind onother ride to 26 and coming back so maybe we create some sort of double top?
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Worth_The_Ri5k StarFoxAmara
@StarFoxAmara, Definitely possible, 26$ is a significant resistance from the monthly timeframe for me

Not to sure though, the sentiment of the market may be just too bullish and invalidate short setups quickly.

Definitely worth considering the bearish perspective as we are under this resistance, i want to look for another long setup if we do something like this.

+1 Reply
StarFoxAmara Worth_The_Ri5k
@Worth_The_Ri5k, thamk to share your knowledge
Reply
Worth_The_Ri5k StarFoxAmara
@StarFoxAmara, No problem :)
Reply
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