Silver (XAGUSD) Analysis 04/03/2021
Updated
this is a 2 Day Candle Chart
as we can see the Price is up Ranging in a Yellow Ascending Parallel Channel where currently it is trying to break the lower bond.
there exist a Fibonacci golden zone of the smaller impulsive wave, which can show Support and if the price bounces from it then we can target the 1TP, which is Fibonacci Expansion -27% level of the main Bullish Wave.
the Red Box (Fib Confluences Level IMPORTANT) is the confluences of the 76.4% Fib Retracement of Smaller Impulsive wave and 38.2% Fib Retracement of the main bullish wave, where if the price falls and it stands as a support and bounces the price, then we can target the 2TP, which is the -61.8% Fibonacci Expansion Level of the main Bullish Wave.
there are 2 Vertical Lines which Shows the Speculated Dates for Achieving the Specified Targets, they are specified by Trend-Base Fibonacci Time,
there are total of 2 TPs Specified
1TP=35$
2TP=41$
please comment your Opinions...
as we can see the Price is up Ranging in a Yellow Ascending Parallel Channel where currently it is trying to break the lower bond.
there exist a Fibonacci golden zone of the smaller impulsive wave, which can show Support and if the price bounces from it then we can target the 1TP, which is Fibonacci Expansion -27% level of the main Bullish Wave.
the Red Box (Fib Confluences Level IMPORTANT) is the confluences of the 76.4% Fib Retracement of Smaller Impulsive wave and 38.2% Fib Retracement of the main bullish wave, where if the price falls and it stands as a support and bounces the price, then we can target the 2TP, which is the -61.8% Fibonacci Expansion Level of the main Bullish Wave.
there are 2 Vertical Lines which Shows the Speculated Dates for Achieving the Specified Targets, they are specified by Trend-Base Fibonacci Time,
there are total of 2 TPs Specified
1TP=35$
2TP=41$
please comment your Opinions...
Trade active
50% fib Seems to be standing Strongly
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