Hello Traders,
I trust you are doing great and getting reading for the new trading week.
Here is my view on Silver.
To begin with, I will draw your attention to the monthly chart. Based on where I plotted my monthly OB, go and look at your monthly chart. Price mitigated the manipulation. Hence the rally. If you measure that bullish candle that price mitigated on the monthly chart, note where it ends.
Now come back to the daily chart and look at the kind of structure we have. It is an inverse heads and shoulders pattern. My speculation is that price will continue to rally to the weekly supply orderblock.
You will also notice that whilst other USD pairs made massive moves last trading week, Silver didn't. Which means that we might get an explosion this week.
There is just one suspicious thing... price formed a trendline liquidity, but I am still interested in taking the long as there are more confluences for a long than short.
What do you think?
Follow for more updates like this.
Cheers,
Jabari
I trust you are doing great and getting reading for the new trading week.
Here is my view on Silver.
To begin with, I will draw your attention to the monthly chart. Based on where I plotted my monthly OB, go and look at your monthly chart. Price mitigated the manipulation. Hence the rally. If you measure that bullish candle that price mitigated on the monthly chart, note where it ends.
Now come back to the daily chart and look at the kind of structure we have. It is an inverse heads and shoulders pattern. My speculation is that price will continue to rally to the weekly supply orderblock.
You will also notice that whilst other USD pairs made massive moves last trading week, Silver didn't. Which means that we might get an explosion this week.
There is just one suspicious thing... price formed a trendline liquidity, but I am still interested in taking the long as there are more confluences for a long than short.
What do you think?
Follow for more updates like this.
Cheers,
Jabari
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