This wedge on silver seems like the signal for an upcoming price reversal.
The lower lows in combination with a ascending lows on the RSI is something I've seen in my previous wedges that worked out.
Also the volume is descending what makes me think the bears are losing the pressure on this support.
The target is shown on the chart, just as the SL is.
I'm going in on a aggressive entry right now because of this bullish momentum.
Thanks for reading!
Wesley
The lower lows in combination with a ascending lows on the RSI is something I've seen in my previous wedges that worked out.
Also the volume is descending what makes me think the bears are losing the pressure on this support.
The target is shown on the chart, just as the SL is.
I'm going in on a aggressive entry right now because of this bullish momentum.
Thanks for reading!
Wesley
Comment:
Hanging at support again, will keep you updated.
The last test of resistance was not powerful enough to break it.
If the supports hold we can try again, there is a small chance for a fake breakout like last time.
The last test of resistance was not powerful enough to break it.
If the supports hold we can try again, there is a small chance for a fake breakout like last time.
Trade closed: stop reached:
Will update next week with an update what I think that happened.
Comment:
The weekly candle is bullish and on the 4hr also.
Now testing the resistance, a little consolidation before a heavy brake would be perfect.
A bull flag is something to keep in mind to.
Coming week we want to see the breakout at resistance happening.