SILVER - XAGUSD - LONG SETUP
Updated
We're looking for the LONG in Silver.
Market has retraced to the 382 of the whole swing from Mar 2020 - present.
It has also retraced 50 of swing higher from December 2021 - present.
It has knocked on the door of a trend line connecting tops from May 2021-present.
Currently market has come back to retest the breakout are from which it went higher.
From here we're are looking for a LONG entry.
Target would be the ABCD pattern taking us to 26.400
Market has retraced to the 382 of the whole swing from Mar 2020 - present.
It has also retraced 50 of swing higher from December 2021 - present.
It has knocked on the door of a trend line connecting tops from May 2021-present.
Currently market has come back to retest the breakout are from which it went higher.
From here we're are looking for a LONG entry.
Target would be the ABCD pattern taking us to 26.400
Note
Here it is on the dailyNote
First attempt at long we were stopped out.Here is the 2nd attempt and so far so good
We'll look to see how the market reacts tot he 382.
Note
Amazing how the market hit the 382 and rejected it. The next day it went lower and stopped us out a 2nd timeTrade closed: target reached
We've had a good run, we should be thinking about taking profits here.
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