SHORT XAGUSD: Re-Enter Based on Larger Timeframe Perspective
It seems that I entered early on XAGUSD, and got stopped out. This time, I zoomed out to the daily chart and found a high volume node on the profile (yellow/blue rectangular channel), which I selected as an entry target. For reference, the bottom of the node is at $3.095.
I'm a bit surprised that price rose up so fast to meet it, but I'm glad I was up late and saw it happen.
This time, the Stop is above the volume node and above the nearest VWAP, which, along with the other line-work, offer more compelling resistance. The value of $31.272 is selected only to even out the R:R ratio.
The profit target is derived by the potential for a harmonic pattern to complete at the 2.227 extension of the ABC legs. Potential partial profit targets are marked along the way, including the 1.618 extension at +/- $30.47.
I'm a bit surprised that price rose up so fast to meet it, but I'm glad I was up late and saw it happen.
This time, the Stop is above the volume node and above the nearest VWAP, which, along with the other line-work, offer more compelling resistance. The value of $31.272 is selected only to even out the R:R ratio.
The profit target is derived by the potential for a harmonic pattern to complete at the 2.227 extension of the ABC legs. Potential partial profit targets are marked along the way, including the 1.618 extension at +/- $30.47.
adrian dyer
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.
adrian dyer
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.