Fundamentally, i believe the price of the commodity may be driven by investor seeking our safe havens as alternative investments (Ooops! don't have the facts).
technically, Its almost general consensus that the price of XAGUSD may continue to trend higher. we may see prices target the 17 price levels. I decided to step back a little to observe the trend of XAGUSD that began in July 2016 when price rallied above 20. This was just to get a bit of insight to support my objective of going long or confirm key S/R levels basically. I understand that some concerns may arise around the quality of the analysis drawing relying on too much historical data. I also did a similar analysis at the recent highs that occurred in the middle of September 2017.
it is important to note that the silver is coming from a significant turning point at support around the 15.60 price levels (See green arrows in the above chart). The Gann fan seems to coincide at the 15.5 price areas. The Ichimoku confirms a bearish outlook in the short-term representing an opportunity to reinstate a buy position. The lagging indicator is below price 26 candles in the past. I am looking at an entry point around the Ichimoku cloud. im looking at taking profit around 17.00
My psychology nothing is guaranteed. This is the first idea im publishing to test my understanding of the markets. i can only wait to see how this plays out
technically, Its almost general consensus that the price of XAGUSD may continue to trend higher. we may see prices target the 17 price levels. I decided to step back a little to observe the trend of XAGUSD that began in July 2016 when price rallied above 20. This was just to get a bit of insight to support my objective of going long or confirm key S/R levels basically. I understand that some concerns may arise around the quality of the analysis drawing relying on too much historical data. I also did a similar analysis at the recent highs that occurred in the middle of September 2017.
it is important to note that the silver is coming from a significant turning point at support around the 15.60 price levels (See green arrows in the above chart). The Gann fan seems to coincide at the 15.5 price areas. The Ichimoku confirms a bearish outlook in the short-term representing an opportunity to reinstate a buy position. The lagging indicator is below price 26 candles in the past. I am looking at an entry point around the Ichimoku cloud. im looking at taking profit around 17.00
My psychology nothing is guaranteed. This is the first idea im publishing to test my understanding of the markets. i can only wait to see how this plays out
Trade fechado: objetivo atingido