No need for explanation... just look. It matches well with XAUUSD so its another confluence. Pick one of the 2 with a pending order. Also XAGUSD will be around round number of 20 which is a good psy level.
I have a pending order at the green box. You can see the confluence at the zone. Take profit whenever you feel like it.
Some confluence at that zone. Look it up and bag some profit along the way.... don't be greedy
50 Fib + Key level + Trendline. Don't be greedy, take some profit along the way. It is more of a day trade.
Forming a head and shoulder plus strong zone rejection + + + +
weekly view: TL rejecting 4hr forming H&S
We hit that yellow zone for a 3rd touch. My issue with this setup is that we rejected the neckline of a reverse H&S . Look at the Daily chart I will show. Trade this pair with a smaller lot size and take profit after 20-30 pips with SL at BE. Be careful
We hit that red zone. Look at all the confluence (2.0000 psychological level+50% fib+ EMAS+ broken resistance retest+ retest of a broken blue trendline). I will send a daily chart also
We hit that blue zone. I am waiting to buy that pair but while we waiting, why not take a short
We come back in the blue zone to make the right shoulder on the H&S pattern. Do not take big positions because of Brexit news can mess up your trade fast.
once we get to that red zone. Alot of confluence in that zone with a psychological level of 135
We come to retest 1.1000 and some fibs level + broken TL. Not my favorite pair as it is damn slow but lets see
On 3rd TL touch. There is alot of confluence at that zone. Dont look for an homerun, we could very well reject make some pips than break that zone. Dont be greedy