Monthly trendline up from 2002 lows comes in at around 7!
Monthly trendline down has been broken to the upside and has held
But fibonacci expansion 0.61.8% from last two moves up are both just below 14
If price breaks below 13.8 again we may see 100% fibonacci expansion level from last move - at least!
This is just above 12
So: buy between 14 and 10.5 (100% fibonacci expansion level from initial move up after break of monthly trendline down held) and target at least 38.2% fibonacci retracement monthly - lows to 50
So: around 22 TP -- SL below monthly trendline 7
I am in 100USD at 14 - so SL will cost me $700 - TP(0.5) = 22 (first TP) = $400, second TP(0.5) = 61.8% = 37 = $1150
My prediction is that low will be Xag/Usd = 12.6 = 100% fibonacci expansion of last move
A year later we will be above 30
Monthly trendline down has been broken to the upside and has held
But fibonacci expansion 0.61.8% from last two moves up are both just below 14
If price breaks below 13.8 again we may see 100% fibonacci expansion level from last move - at least!
This is just above 12
So: buy between 14 and 10.5 (100% fibonacci expansion level from initial move up after break of monthly trendline down held) and target at least 38.2% fibonacci retracement monthly - lows to 50
So: around 22 TP -- SL below monthly trendline 7
I am in 100USD at 14 - so SL will cost me $700 - TP(0.5) = 22 (first TP) = $400, second TP(0.5) = 61.8% = 37 = $1150
My prediction is that low will be Xag/Usd = 12.6 = 100% fibonacci expansion of last move
A year later we will be above 30