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.
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.
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