XAG/USD (Silver) hourly charts: Small or big correction...?
1H and 4H is in correction, whether this is a small correction or a big one we can't say yet.
1H might be forming a triangle, but it's still early to say also... Could also be an ABC or the start of an A of ABC...
No clear picture yet, I will wait...
Buying or selling the breakout will be the first opportunity, long or short is yet to be seen... I have a short on from the top but risk is controlled.
I still think the longterm picture is bullish as with Gold and we haven't seen the top yet... We are however currently close to or at possible resistance from previous structure and MA's (see monthly/weekly study linked below) and in every trend there are retracements so on this TF shorts could be considered if confirmed by a high probability setup.
1H might be forming a triangle, but it's still early to say also... Could also be an ABC or the start of an A of ABC...
No clear picture yet, I will wait...
Buying or selling the breakout will be the first opportunity, long or short is yet to be seen... I have a short on from the top but risk is controlled.
I still think the longterm picture is bullish as with Gold and we haven't seen the top yet... We are however currently close to or at possible resistance from previous structure and MA's (see monthly/weekly study linked below) and in every trend there are retracements so on this TF shorts could be considered if confirmed by a high probability setup.
