cantestogo

XAGUSD POSSIBLE SQUEEZE ON DAILY

FX:XAGUSD   Silver / U.S. Dollar
Previous buy setup is gone pretty well, now i'm looking for a pattern like this to break previous top and to arrive at the 1,27 fib estension.
AB=CD pattern completed. Pay attention for a possible area of profit taking
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I believe target 1 Hit... new graph maybe or update?
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cantestogo DownUnder
Let's see for a possible AB=CD pattern
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This is on 30min chart a couple of hours later
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DownUnder cantestogo
Now its getting interesting :)
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it is interesting now, your blue line down to 16.36 for correction must start now otherwise it will continue to rise to your target 1
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cantestogo DownUnder
On previous top too it wasn't so clear the reversal if you have a look to 1h chart, so pay attention to the price action on lower timeframes. If it breaks above it should be with a strong momentum.

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DownUnder cantestogo
I am not that experienced with reading charts... can you explain the price axction indicators ?
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cantestogo DownUnder
In that particular case you can see how the rising structure is broken downside, with a divergence between the price (going up) and MACD signal line (going down). After a test on the breakout area it follows a new strong leg down.
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DownUnder cantestogo
thankyou.. I will have to work on that. currently we are moving back lower, but time will tell what is eventuating. :)
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