Kumowizard
Short

Failure at daily Kumo top. More selling expected.

FX:XAGUSD   Silver/U.S. Dollar
156 2 9
Silver             had a very nice spike and bullish continuation attempt from daily Kumo bottom. Price even managed to pick above daily Kijun, but right at 20 resistance (Kumo top) it reversed bearish again.

Looking at the weekly + daily structure, I assume we'll see more selling in coming weeks towards 18 support, or maybe even lower.

Weekly:
- Ichimoku is bullish with supports at 18 and 17,37. Below 17,37 the long term structure would deteriorate a lot.
- Heikin-Ashi gives a sell signal and a warning for possibly more selling! We have a red candle to start this week with, haDelta crosses below SMA3 and the cross takes place below zero line. haOscillator is stuck below zero.
- MACD is counter bearish .

Daily:
- Price dipped back into thick Kumo cloud. This makes Ichimoku setup neutral, but looking at forward Kumo, we also have a bearish Snekou cross warning!
- Heikin-Ashi shows high momentum , agressive selling in Silver             . 18,50 is very important leve to hold. haDelta and haOscillator are down.
- EWO down to zero.

There is high probability of more selling. What is also very likely, that volatility in Silver             (and I think in all metals in general) will increase further.

Related Ideas

Rupesh
2 months ago
I like your fast dectection. keep it on. i also detect from yours 10 days blow.
I saw candlestick pattern and your base is heikin Ashi.
I think heikin Ashi is best and fast then candlestick.
Reply
Rupesh
2 months ago
I want to know as you decribe in chart that price pinbar formation in green which define with circle. how to we palce in my charts.
Reply
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