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Xagusdshort

Silver lower high bottom in december 2016?I think silver is on its way to confirm the bottom that was set in december 2016. I don't think that is quite confirmed yet because silver is sill ranging in the downward trend since the peak in 2016-07-04. But I can see two potential inverse head and shoulder come into play. First play: If silver closes over 17.20 these three coming trading days, I would expect a fast run to 18.50 before any resistence (won't be looking for any trades here since no PA). But I will look to short at 18.50 if opportunity occurs. And after 18.50 is reached I will expect a correction to 17.10 since its the breakout line, right shoulder and the 50% fib correction level from the bottom (16,62-18,50). Second play: If the silver decides to have its correction now I will be looking to long at 16.20 level because of the potential right shoulder (will need PA to confirm though).
FX_IDC:XAGUSD
by Mattson
XAGUSD BUYLong, take @ your own risk good R:R in my opinion and shorts are now extended, this is a short term trade I am looking to enter during the asian session, as long as prices remain above 50% fib before the asian sesh i will be looking to go long around those levels. if your an aggressive trader you can enter @ current levels. But do so @ 30% of your regular lot size. Remaining 60% should be entered @ 50% fib ***This does not constitute as investment advice, your responsible for your own losses and gains, this is just my Personal view on the market
FX_IDC:XAGUSDLong
by thecrackking