XAGUSD Double Top
Hello Friends,
Price has bounced off the resistance line with the last four H4 candles, It looks like a short is in order for this pair unless we get a close on the H4 above current resistance, If that happens, then we will be looking for the next resistance level for a short @ 18.10 or 18.89.
Cheers!
Price has bounced off the resistance line with the last four H4 candles, It looks like a short is in order for this pair unless we get a close on the H4 above current resistance, If that happens, then we will be looking for the next resistance level for a short @ 18.10 or 18.89.
Cheers!
Note
Wait for confirmation of a reversal, there is always a B wave to retest the top. Hedge funds are still long on metals but closing positions on the way up, so I expect a reversal soon but at the same time we are seeing MM's accumulating shorts for liquidity to drive the price in the direction they want.Note
This could be a fakeout and a sign of a reversal. Wick up then down to liquidate the shorts for MM's shorts.Note
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.