AfroTrades $idea - Long on XAG/USD (Daily chart)
Our algorithmic strategy suggests a long position possibly followed by a short one on XAG/JPY on the daily chart. We have filtered these signals through an MA10, William's %range and the Volatility Ratio.
We will wait for a retracement from the current level, hoping to be able to open a long position at 23.635, with SL at 23.285 and TP at 23.134.
We would then close the position and re-open it short at the same level with SL at 24.923 and TP at 22.852
Today's BOJ announcement caught us by complete surprise and keeping all fingers crossed hasn't worked all that well. Let's give the toes a go too this time.
Not actual advice! (crossing your toes ain't good for you).
AT
We will wait for a retracement from the current level, hoping to be able to open a long position at 23.635, with SL at 23.285 and TP at 23.134.
We would then close the position and re-open it short at the same level with SL at 24.923 and TP at 22.852
Today's BOJ announcement caught us by complete surprise and keeping all fingers crossed hasn't worked all that well. Let's give the toes a go too this time.
Not actual advice! (crossing your toes ain't good for you).
AT
Trade closed: target reached:
Price has so far closely matched our prediction and the first of the two positions (the bullish one) was triggered and target was reached.
Has the price has now dropped below 24.151, the order for our second position (the bearish one) has now also been triggered. We're now counting on a bearish retracement to our TP at 22.852.
Has the price has now dropped below 24.151, the order for our second position (the bearish one) has now also been triggered. We're now counting on a bearish retracement to our TP at 22.852.