XAGUSD (SILVER) SHORT TRADE SETUP

Hi traders:

There is a potential sell setup forming on XAGUSD (SILVER), as the daily and weekly chart may indicate a lower high has formed, and we can see some bearish momentum coming in this week. On the 4 hr chart we can see the price action broke out of the rising channel. We can wait for price action to reject the resistance and form a potential Head and Shoulder pattern before considering a short trade. Look for a strong rejection before enter the short position.

Target 1: 17.01 (2%)
Target 2: 16.70 (3.82%)

Thank you for your support and feedback.

Kommentera:

Here is the daily and weekly charts:

Daily:

Weekly: