SILVER - Clean & Simple 🤩

OANDA:XAGUSD   Silver / U.S. Dollar
Silver is creating one of the best price actions we've seen recently. We are seeing a very clear impulse - correction - impulse.

The correction appears to be an ABCDE descending wedge - leading towards the 61.8 fib which would be a great place to take SHORT targets and look for LONGS. The buy set up looks even better but for the meantime, we can look for shorts.

Trade Idea:
- Watch for the completion of the smaller ABC correction leading towards the descending wedge resistance
- Watch for bearish price action and enter with stops above the rejection
- Targets: 21.46 (400pips), 18.7 (600pips)

The buy set up:
- Watch for price rejection at the 61.8 fibonacci
- Enter with stops below that level
- Targets: 30 (1150pips), 35 (1640pips)

As always, please take care and trade safe!

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