XAGUSD1! trade ideas
Symmetrical Triangle Pattern Spotted in Silver R:R 1 : 2.4 A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
Symmetrical Triangle pattern spotted in weekly time frame and this about to breakout with good risk reward .
Silver is in Overall Uptrend.
It took 270 Days to form this symmetrical triangle Pattern.
Manage your risk before get into any trade.
This View is only for educational Purpose only .
Don't blindly follow anyone trade please follow your own analysis.
Silver Observations Silver might be a good investment. Wait for the right opportunity.
1. Pole and pennant pattern.
2. RSI comes to 50 at first time from 80 RSI and goes sideways between 60 and 50 RSI.
CONFIRMATION
1. When RSI will close above 60 and %B will Also close above 1.
DOUBLE CONFIRMATION.
When Pennant pattern will break.
Target would be length of the pole make sure to put STOPS as well .
MCX Silver Will Touch 68000?Volume accumulation is confirming a downtrend. Here, the price is in a downtrend. But if you look for the short-term, silver price has started rising nearby the retracement value of 0.382. We may see a bullish reversal from the 0.236 value for 0.382 to 0.5.
MCX silver futures prices may hike to the levels of 66000 - 66600 - 67000 - 68000 .
Overall, a clear trend will identify after moving averages crossover.
