XAGUSD Long Setup – Target 55, Manage Risk Below 48Description:
Silver (XAGUSD) has shown strong bullish momentum, breaking multiple structure levels (BOS) and confirming a clear uptrend. The current price action suggests potential continuation toward the next resistance levels around $53.8 – $57.1, with a final target at $55.
However, if price retraces and closes below $48, it may signal exhaustion or a potential reversal, making that an appropriate exit or stop-loss level.
Trade Plan:
Entry: Current market price (~$50.6)
Take Profit: $55
Stop Loss / Exit if hit: $48
Risk–Reward Ratio: ~1.7:1
Trend Bias: Strong Bullish
Timeframe: 1D
Technical Notes:
Price has broken multiple structures and maintained higher highs and higher lows.
Momentum remains strong after BOS near $47.36.
Watch for consolidation near $51–$52 as short-term resistance.
Conclusion:
As long as silver holds above $48, the bullish structure remains intact. A push toward $55 aligns with current market momentum and Fibonacci extension targets.
OANDA:XAGUSD
