ANALYSIS 🔎
- XAGUSD brokeout above the descending triangle's inclined resistance.
- Price retraced, breaking down below the ascending trendline support.
- Price is retesting the 0.618 fibonacci retracement level and the descending triangle's inclined resistance.
- RSI is printing a bullish divergence signal.
- A bullish pin bar (hammer) was formed.
- We could see an uptrend continuation.
BUY ENTRY ⬆️
- Breakout above the horizontal resistance level 1 (R1).
TARGETS 🎯
- Previous swing high resistance (R2).
- Horizontal resistance level 3 (R3).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.
Enjoy 🥂
- XAGUSD brokeout above the descending triangle's inclined resistance.
- Price retraced, breaking down below the ascending trendline support.
- Price is retesting the 0.618 fibonacci retracement level and the descending triangle's inclined resistance.
- RSI is printing a bullish divergence signal.
- A bullish pin bar (hammer) was formed.
- We could see an uptrend continuation.
BUY ENTRY ⬆️
- Breakout above the horizontal resistance level 1 (R1).
TARGETS 🎯
- Previous swing high resistance (R2).
- Horizontal resistance level 3 (R3).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.
Enjoy 🥂
