LewisGlasgow

XAG/USD - Bullish 5-0

FX:XAGUSD   Silver/U.S. Dollar
This is insane, to round off my 50th idea on TradingView I'm sharing what could possibly be one of my biggest trades of 2016. Here we have XAG/USD             on a Daily chart with a picture perfect bullish 5-0 , this is an excellent short/long opportunity!

The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

As you can see price has spiked up to hit a major level of resistance completing our C leg, in addition we are extremely overbought on RSI and I'm all for shorting this pair right down to below 16.000... We're in for a huge trading opportunity.

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GL dude im long as well but looking at rsi so looks like a short :(
+1 Reply
I'll be looking to short this on the lower time frames!
Reply
As always, a very well constructed study. Great work! Don.
+1 Reply
Thank you Don I appreciate it. Have a great week!
Reply
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