TheSignalyst

SILVER - Potential Bullish Reversal!

Long
FOREXCOM:XAGUSD   Silver / U.S. Dollar
Hello everyone, if you like the idea, do not forget to support with a like and follow.

SILVER is approaching strong daily support in green so we will be looking for buy setups.

Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?

on H4: SILVER is forming a channel in blue but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

Meanwhile, until the buy is activated, SILVER would be overall bearish and can still trade lower.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

This analysis is done using RichTL
www.RichTL.com

My Telegram Channel
www.t.me/thesignalyst

Support Bright Ideas Through Decentralised Crowdfunding
ideaology.io

Buy CRGPT on Uniswap
cutt.ly/CRGPT
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.