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XAGUSD | New perspective

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The appearance of a reversal pattern around the bearish trendline identified on the daily time frame insinuates a bearish momentum for the week.

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The week has started on a strong bearish note but unfortunately, I have missed this move. So, I will be waiting to see if the market will give me a second chance at entry... Update coming soon.

Good morning

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Current update as selling momentum continues to linger>

BEARISH SIGNAL: breakdown/retest of $19.70 level

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With 230pips in profit, price continues to move in our direction. Securing position

Good morning

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UPDATE

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Rejection of $1,930 area will welcome another position as projected

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Multiple rejections of the $19.30 area in the last 4 hours insinuate that bearish tendencies are still feasible from this juncture on the chart. Sellers have continued to reject bullish attempts from the $19.30 area, so selling below this level looks sensible.

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UPDATE

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Multiple entries dovetail to over 1,000pips profit and stop-loss moved accordingly as sellers continue to impose presence since the beginning of the week.