XAGUSD on the way to test 28 again
Â
XAGUSD was bouncing off the 21 again. As you can see on the monthly chart, price action is again leading higher for a test of the critical long-term downtrend line 28.180. A break above this level will lead to an acceleration higher in extension.
Â
The weekly chart shows a medium-term uptrend line holding 23.80 as the strong support level for a bounce higher. Look for the continuation upside and a test of the significant resistance 28.100 as long as the instrument exceeds 23. The Fibonacci extension is pointing to an ultimate target at 40.100.
Â
JOIN TRADER’S CLASSROOM TO LEARN A PERFECT ENTRY AND EXIT TIMING IN ALL ASSET CLASSES
On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
Does that sound like you?
Go Premium to read full trading strategy with parameters of entry, stop loss, and exit. Why Premium?
We have used the combination of the top-down trading analysis to get these critical levels explained in the charts. Also, you can see Elliott Wave and price action analysis together in action along with the Andrews Pitchfork channel tool. If you want to learn the trading strategy that will give you immediate results in your trading register for Trader’s classroom.
