XAG/USD long based on candles, fibs and structure
Updated
Recent move down in precious metals as N Korea tensions abate and the $ strengthens.
Price rejects strongly from 61.8 retracement of most recent swing high with bull hammer, would expect price to retest to 38.2 and 23.6 (50 is not a fib level).
Based on price action around this level we can look to targets around full retracement and -2.72 extension
Price rejects strongly from 61.8 retracement of most recent swing high with bull hammer, would expect price to retest to 38.2 and 23.6 (50 is not a fib level).
Based on price action around this level we can look to targets around full retracement and -2.72 extension
Note
expecting some resistance around 17.163. still in trade.Note
looking for close above 17.27 still in trade moved stopsTrade closed manually
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