This is an ACTIVELY managed BLOG CONTRIBUTION, which will be UPDATED WEEKLY with comments and trade ideas.
| This way, I generate a SERIES for you, where you, as a reader, can - ACTIVELY - learn from the analyses, decisions, & interactions |
In the following analysis, I do NOT highlight any specific scenario but neutrally look at the higher timeframes in the > FX:XAGUSD <
- We focus on the technical KEY points and KEY areas that will be relevant in the coming weeks & months.
- As soon as candlestick closes emerge that suggest a temporary direction for the price intra-day, I create a separate post below.
- This post will be under a similar name, which is as follows: "XAG / USD - JOURNAL - ACTIVE SERIES" (Includes: entries, stop loss & take profit levels)
- Once published, it will be added as a comment, and when this post is saved, you will receive a notification about it.
How do I save an idea so that I receive a notification when it’s updated?
MARKED POINTS OF INTENTION (POI)
- The price is below the mid-trend line of the oldest and most influential trend channel, which originated in 1971.
- Additionally, we are at the upper resistance line of a slightly younger trend channel, which formed in 2011 and has served as resistance since 2020.
- The "Higher High" of 2008 will serve as our next support, as well as the zone formed around it (21,355 - 22,000).
- In our recent trend channel, another subordinate trend channel has emerged, which is currently contested.
- Momentum indicators in the weekly TFs show declining momentum, which is additionally noted in the daily TFs.
- The daily "moving averages" have all broken through the 200s and are now serving as resistance.
[s]Z[/s] - You have to understand the big picture to not drown in the noise of the small one - [s]Z[/s]
If this idea and explanation have added value to you, I would appreciate a COMMENT or BOOST very much.
Thank you and happy trading!