Silver final push lower to $22.00

OANDA:XAGUSD   Silver / U.S. Dollar
Hello Fellow Trader!

Silver forming ABCDE trend continuation pattern prior to the US election with final E wave to complete.

A bearish candle reversal is critical at the distribution zone to enter silver short to fulfil final E wave drop.

Key Points:
- Price holding below the 200 EMA
- Price holding below the 50 EMA
- Break of trend line will support a secondary option to enter
- Bearish candle may form at the 61.8% Fibonacci retracement coinciding with $23.75 resistance and 200 EMA .

Key Levels:
Support - $22.60, $22.00
Resistance – 50 EMA , 200 EMA , $23.75, $24.10

Entry Zone:
Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals.
Optimal Entry – $23.70
Supporting Entry – $23.50

Candle Reversals for entry
- Bearish Shooting Star
- Bearish Engulfing
- Bearish Dark Cloud Cover

The Risk:
As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios.
If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital.

IF: Price breaks above 24.27676 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter.

Reward / Reward Targets:
Optimal Entry $23.70 – Target 1 $22.00 = Reward to Risk
Supporting Entry $23.50 – Target 1 $22.00 = Reward to Risk
👉 Facebook: @tradetheday
👉 Instagram: tradethedayfx
👉 Telegram:
👉 Twitter: @TradeTheDayFX


Very nice! Why dont you have an ideas
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out