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forextidings
Sep 16, 2020 4:07 PM

SILVER (XAG/USD) Day Trading Strategy & Analysis 

SilverOANDA

Description

Silver made descending triangle pattern and it's base range is 2.36. Descending triangle pattern refer as a reversal pattern.

Currently, XAG/USD is in consolidation area, and playing at resistance trendline. This pattern has 1% chances to breakout upside. And if it will happen then we may see prices at $28.600 - $29.800+.

DAY TRADERS:
  • In this situation, we should wait for the flat lower trendline breakout. And you can keep selling silver nearby LH level for support trendline (Target: $27 - $26.67060).


SHORT-TERM INVESTORS:
  • As I indicated in the chart, if the support trendline breakout happens then you can sell for target prices $25.85360 - $25.22460 - $24.44060.


Please note before buy/sell you must identify fakeout, excess, or tail. If you need any help don't hesitate to ask, PM me.
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