Silver - XAGUSD bullish continuation trade setup
Updated
Mkt in bullish trend. As long as bulls hold above the 14.80
invalidation area expectation is a test of 18.25 resistance zone.
Mkt is currently retracing towards 16.00 broken resistance zone
which is likely to now become support.
A bullish trend continuation setup is forming offering traders a
1.5:1 reward to risk if entering long at beginning of support zone.
More conservative traders can watch for their particular entry
signal as price enters the 16.00 general support area. Traders
who require a larger reward to risk may wait for a deeper pullback
and enter closer to the invalidation point, thus increasing the reward
to risk ratio.
invalidation area expectation is a test of 18.25 resistance zone.
Mkt is currently retracing towards 16.00 broken resistance zone
which is likely to now become support.
A bullish trend continuation setup is forming offering traders a
1.5:1 reward to risk if entering long at beginning of support zone.
More conservative traders can watch for their particular entry
signal as price enters the 16.00 general support area. Traders
who require a larger reward to risk may wait for a deeper pullback
and enter closer to the invalidation point, thus increasing the reward
to risk ratio.
Trade closed: target reached
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