BeyondEdge

XAGUSD Q4 Target - Short to 19.000

Short
FOREXCOM:XAGUSD   Silver / U.S. Dollar
XAGUSD appears to be ranging along a short term bearish channel (red). I'm looking at the prospect of a bearish breakout towards the baseline of the larger trend channel towards 19.000 which will take it back to the break out of that resistance level at the beginning of Q3.

This would also bring the price back to the 50% retracement level of the bullish move from March to August this year.

I'm expecting price to range there throughout the rest of Q4 before printing it's way into play for a bullish breakout.

Sounds too simple?


Do leave a comment if this idea caught your attention. I'm keen to hear your thoughts and as always, a like to show your support is much appreciated.


Disclaimer

This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only.

Do not trade or speculate based solely on the information provided.

Trust your own analysis.
Beyond Edge

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