XAGUSD - Trading IdeaXAGUSD - Trading Idea
Title:
XAGUSD: Rejection from 52.34 level, decline expected to demand zone
Description:
Current Situation:
Silver price has met resistance at the 52.34 level, where a high volume zone is located. Limit players have stopped the upward movement at this key level.
Primary Scenario:
A decline toward the lower high volume zone is expected, where demand may form for entry into long positions. This area presents interest for seeking buying opportunities.
Alternative Scenario:
If the price reverses from current levels and breaks through the 52.34 resistance, the primary bearish scenario will be invalidated. In this case, a reassessment of the trading strategy will be required.
Trading Plan:
Resistance: 52.34 (high volume zone)
Target zone for buys: lower high volume area (marked on chart)
Invalidation: breakout and consolidation above 52.34
Position Management:
If the scenario plays out, partial profit-taking is planned at the 52.34 level. A small portion of the position will be held for potential movement higher with a trailing stop.
Risk Management:
It is recommended to wait for price reaction in the target zone before entering a position. Place stop-loss below the demand zone accounting for the instrument's volatility.
