XAGUSD IN A SUPPLY ZONE. REVERSAL EXPECTED.
XAGUSD is currently in a Supply Zone.
What we can expect is to see a reversal from this area until the Demand Zone.
Alway wait for a reversal pattern or a reversal closed candle to take a Short Position.
A simple setup that can provide a RiskRR 6 times bigger.
*My Short position as illustrated (SL an TP) is just an indicated position with an indicate stop loss that need to be defined after an inversion signal. I always suggest to place stop loss little bit more high than the currently resistance/support formed to don't take fake stop loss (set your stop loss at a level where it invalidates your trading setup).
Tap a LIKE if you think is a useful idea and comment below if you would share also your idea!
Please do your own research, and follow your trading plan with a properly Money Management.
What we can expect is to see a reversal from this area until the Demand Zone.
Alway wait for a reversal pattern or a reversal closed candle to take a Short Position.
A simple setup that can provide a RiskRR 6 times bigger.
*My Short position as illustrated (SL an TP) is just an indicated position with an indicate stop loss that need to be defined after an inversion signal. I always suggest to place stop loss little bit more high than the currently resistance/support formed to don't take fake stop loss (set your stop loss at a level where it invalidates your trading setup).
Tap a LIKE if you think is a useful idea and comment below if you would share also your idea!
Please do your own research, and follow your trading plan with a properly Money Management.
Trade active
Comment:
Partially profit were taken at -9.90% level where the price started to bounce again. I will publish again a new trading idea later.
Comment:
Level 13.87 Trade Closed. Hope you used a trailing stop loss in your advance. Stay tuned.
I recommend to wait and to don't leave any opened position during the weekend due to the gaps & especially for Coronavirus fact.