XAG/USD has been in a consolidation zone since the beginning of January.
Although, the long term trend is bullish, we may have a little dip as the bulls take in their profits.
Risk no more than 1%
Trade safe.
Although, the long term trend is bullish, we may have a little dip as the bulls take in their profits.
Risk no more than 1%
Trade safe.
Bình luận:
As predicted and expected, it bounced off the 4H 200 EMA and hit the 4H 50 EMA only to bounce back down. It is now in consolidation between the 2 important EMAs.
Time will tell which direction the price will take next as the 2 EMAs get closer and closer, an important breakout will happen.
Time will tell which direction the price will take next as the 2 EMAs get closer and closer, an important breakout will happen.
Bình luận:
Price hitting 1.618 and pushing up directly.. So clean :)
1- Consolidation and bounce back up from 200 EMA: It will hit the 200 EMA on the 4H chart and will most propably slow down the selling, enter a consolidation zone in the shorter time frame and if strong enough, will push back up and hit or get anywhere close to the 4H 50 EMA. We'll then see how it reacts to that zone and could potentially have another dip down for it to find the support it needs for a push higher up in the long term.
2- The 4h 200 EMA consolidation is not strong enough for a push back up and fails further to the 200 8H EMA.
IF in fact the long term bullish move is still intact, we will not see it begin until after half of next month (February). For it to be intact, we must not see a break of the DAILY 50 EMA but rather consolidation on top or within the DAILY 200 EMA. As it gets further and further in time, it is not possible to determing what could happen with exactitude and the potentiality reduces. Although, what we can expect are different possible scenarios and as it happens, we'll engage in them.
*Never enter a trade until you have a good confirmation of it's next direction.