VasilyTrader

SILVER (XAGUSD) Update & Top-Down Analysis 🥈

Short
OANDA:XAGUSD   Silver / U.S. Dollar

If you saw my previous analysis on Silver ,
then you know that we were tracking a bearish breakout of a major rising channel on a daily (the chart on the right).

Retesting the broken trend line , the market started to coil.
On 4H the market started to trade in a local bullish trend forming a classic bearish flag pattern (the chart on the left).

The confirmation that we are looking for to catch a bearish swing is a breakout of a support of a flag.
It will be a strong trigger for the initiation of a new wave.

Initial goal will be 27.06

Remember that the price can be within the flag for a long period of time, so be patient.
In case of a bullish breakout of current daily highs, the setup will be invalid.

❤️Please, support this idea with a like and comment!❤️

Comments

Good work++
Reply
VasilyTrader James_mesut
@James_mesut, thanks a lot James☺️☺️☺️
Reply
Great analysis again. Thanks for sharing.
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VasilyTrader KlejdiCuni
@KlejdiCuni, you are welcome brother :)
Reply
Nice chart mate🔥
Reply
VasilyTrader AtlasTrades
@AtlasTrades, thank you bro ☺️
Reply
Amazing work here! Thanks
Reply
VasilyTrader Mehdisouriiii
@Mehdisouriiii, you are welcome buddy!!!
Reply
We are waiting for a flag breakout, traders!
Only then we will sell
Reply