🔥NEW: XAGUSD 🔥 SWING TRADE 🔥 CounterTrend
⚠️ A countertrend trade is a trade that is made against the prevailing trend. This means that the trader is betting that the trend will reverse and that the price will move in the opposite direction of the BIG PICTURE trend. Countertrend trading can be a very profitable strategy, but it is also more risky than trend following.
SLO @ 24.66 📉 +0.42%
SSO @ 24.26 ⏳
TP1 @ 24.55 (scalp)
TP2 @ 23.85 (day)
TP3 @ 23.85 (mid-pivot)
TP4 @ 22.45 (swing)
Or choose your TP based on the ATR of your favorite chart:
ATR = Average True Range
1 day = 20 pips
4 hours = 10 pips
1 hour = 5 pips
15 minutes = 3 pips
5 minutes 2 pips
TECHNICAL ANALYSIS:
The XAGUSD pair is currently trading in a range between 21.52 and 26.12. The price has been consolidating in this range since March 16, 2023, and it is not clear which way it will break out — below 21.52 or above 26.12.
Support and Resistance:
However, PA "kissed" the main Support level at 22.09, and it broke the main Resistance level is at 25.17. If this "odds enhancer" works in our favor, we should see a BREAK OUT to the upside above 25.17.
INDICATORS:
P2P INDi — Annotates Curve Analysis
— Pivot High @ 26.12
— Pivot Low @ 21.52
TREND
— Momentum: Big Picture Uptrend
— Price Action: Downtrend Retracement
— CounterTrend: YES (aggressive trade)
SLO @ 24.66 📉 +0.42%
SSO @ 24.26 ⏳
TP1 @ 24.55 (scalp)
TP2 @ 23.85 (day)
TP3 @ 23.85 (mid-pivot)
TP4 @ 22.45 (swing)
Or choose your TP based on the ATR of your favorite chart:
ATR = Average True Range
1 day = 20 pips
4 hours = 10 pips
1 hour = 5 pips
15 minutes = 3 pips
5 minutes 2 pips
TECHNICAL ANALYSIS:
The XAGUSD pair is currently trading in a range between 21.52 and 26.12. The price has been consolidating in this range since March 16, 2023, and it is not clear which way it will break out — below 21.52 or above 26.12.
Support and Resistance:
However, PA "kissed" the main Support level at 22.09, and it broke the main Resistance level is at 25.17. If this "odds enhancer" works in our favor, we should see a BREAK OUT to the upside above 25.17.
INDICATORS:
P2P INDi — Annotates Curve Analysis
— Pivot High @ 26.12
— Pivot Low @ 21.52
TREND
— Momentum: Big Picture Uptrend
— Price Action: Downtrend Retracement
— CounterTrend: YES (aggressive trade)
Trade active:
XAGUSD...UT (3H)
(buying opportunity)
BSO @ 24.27 ⏳
BLO @ 24.14 ⏳
Today's USD News caused a major collapse in the price os silver, but one person's trash is another one's treasure.
I'm seeing the probability of PA turning back to the upside. Let's get it!!!
✨ XAGUSD (pip movement per strategy):
STRATEGY PIP MOVEMENT
Scalping 10-15 pips
Intraday 15-20 pips
Swing 20-30 pips
Position 30-40 pips
TIME FRAME AVERAGE ATR
1 day 20 pips
4 hours 15 pips
1 hour 10 pips
15 minutes 5 pips
5 minutes 3 pips
⚠️ TREND
— Momentum: Big Picture Uptrend
— Price Action: Ranging with an Uptrend Bias
— CounterTrend: NO (moderate risk trade)
(buying opportunity)
BSO @ 24.27 ⏳
BLO @ 24.14 ⏳
Today's USD News caused a major collapse in the price os silver, but one person's trash is another one's treasure.
I'm seeing the probability of PA turning back to the upside. Let's get it!!!
✨ XAGUSD (pip movement per strategy):
STRATEGY PIP MOVEMENT
Scalping 10-15 pips
Intraday 15-20 pips
Swing 20-30 pips
Position 30-40 pips
TIME FRAME AVERAGE ATR
1 day 20 pips
4 hours 15 pips
1 hour 10 pips
15 minutes 5 pips
5 minutes 3 pips
⚠️ TREND
— Momentum: Big Picture Uptrend
— Price Action: Ranging with an Uptrend Bias
— CounterTrend: NO (moderate risk trade)
Trade active:
🤑 More upside momentum on the 3m Time Frame
Professor C. E. Ward