XAGUSD Silver : Stairway to heaven? Bull flag behemoth! 25.5
A "bull flag" is a bullish candlestick pattern which is defined by -
1) A linear movement up (flag pole)
2) A tunnel or channel which is on top of the linear movement up (flag)
3) A break above the top of the channel which is the continuation of the up-trend (target)
The target is the size of the flag pole movement stretched from the breakout of the tunnel. In this specific case the long-term target is around $45.
The tunnel or channel range is between 20.20 - 26.20
Looking at the MACD we are furthest away from the baseline since March 2020 and showing convergence similar as back than before the flag pole movement of $17, which of course is a very bullish technical sign.
Silver is fundamentally bullish as well due to rising inflation globally.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Thank you so much for reading! If you found my idea useful, please like and follow! It would truly mean a lot.
If there's anything you'd like to ask or comment, don't hesitate - It's the fuel to keep me going.
I am not a financial advisor and I encourage you to do your own research and be cautious when trading.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1) A linear movement up (flag pole)
2) A tunnel or channel which is on top of the linear movement up (flag)
3) A break above the top of the channel which is the continuation of the up-trend (target)
The target is the size of the flag pole movement stretched from the breakout of the tunnel. In this specific case the long-term target is around $45.
The tunnel or channel range is between 20.20 - 26.20
Looking at the MACD we are furthest away from the baseline since March 2020 and showing convergence similar as back than before the flag pole movement of $17, which of course is a very bullish technical sign.
Silver is fundamentally bullish as well due to rising inflation globally.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Thank you so much for reading! If you found my idea useful, please like and follow! It would truly mean a lot.
If there's anything you'd like to ask or comment, don't hesitate - It's the fuel to keep me going.
I am not a financial advisor and I encourage you to do your own research and be cautious when trading.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Trade active:
Big spike up of $1 so far in a day! Dollar weakness is expected to continue and Silver is gaining while it's losing strength.
26.20 could potentially happen very fast, 20.20 remains possible within the range
26.20 could potentially happen very fast, 20.20 remains possible within the range
