XAGUSD will soon break through upwards, even if the short-term decline again, the probability of buying power below will quickly push it to run again.
@easyMarkets My honor value is not enough, there is no permission to reply. I mostly agree with your point of view, suggesting that you wait patiently for the market to develop and then follow the adjustment strategy. If the current area cannot break through, you can only wait patiently for new opportunities to appear.
Continue to wait patiently for opportunities and weaken again in the short term. Waiting and waiting. Good opportunity requires patience.
Nice idea on XAGUSD. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first resistance at 15.20. It is a horizontal pullback resistance, 38.2% fibonacci retracement and a 100%, 61.8% Fibonacci extension. Stochastic is approaching resistance and we might see a corresponding drop in price. If a corresponding drop does occur, we may want to take a look at the 14.53 support level. It is a horizontal swing low support, 61.8%, 100% Fibonacci extension and a 50% Fibonacci retracement .
Please take a look at our idea and share with us what you think.