XAG/USD (Silver): Bearish AB=CD close to completion

Looking for confirmation at one of the fib zones, first one up is the blue circle.

If confirmed targets are S/R (red line), 50% of CD and/or the 'up' trendline...

Bình luận:

No go on the 1.27..., 1.41 now so possible to start phasing in a hort from here, I think it could go a bit higher still, RSI is highly overbought but stochastics is rising again, I think it will go to overbought region once more and then I would like it even better..., so I will concentrate on the 1.618, this is also around the round number 20...

By starting small it is possible to build up a short position from here, short the next level and possibly even the 2.0 ext. at the next possible larger resistance level.

Giao dịch đang hoạt động:

Interesting PA on this TF..., 1st short here..., small position, really bullish on higher TF's so be careful...

Bình luận:

If it goes up again I might add one at 21.50 with SL at 22.50 for all... (combined entry 21.00), first target 18.50, possible 2nd target to be defined depending on PA, SL to BE asap...
Counter-trend so not risking more than 0.5%...

Bình luận:

Current situation:

So far so good, close to the lower BB now on the 1H, I'm trailing SL above the high and cancelling the extra sell order for now, will decide if I will add later.

Bình luận:

We did get candle and BB support on the 1H..., but will it continue further up or will it fail again...
Next 4H candle will be an important one for me...:

Bình luận:

SL to BE, still llooking OK, let's see if it fails again and goes on down...