This idea was first posted on Dec 16 but was hidden as I unknowingly violated one of TV's house rules and the idea was hidden. Reposting for everyone's reference as the risk reward is getting more attractive!
Following the NFP last friday, XAGUSD has broken below the previous mth low and looking very bearish in the short term. Continue to lean short and target to clear 15.10 (the 1.618 fibo level) before any mid term bull trend turn.
XAUUSD is also expected to continue a similar bear trend till its target of 1416 is hit.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Following the NFP last friday, XAGUSD has broken below the previous mth low and looking very bearish in the short term. Continue to lean short and target to clear 15.10 (the 1.618 fibo level) before any mid term bull trend turn.
XAUUSD is also expected to continue a similar bear trend till its target of 1416 is hit.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Trade closed: target reached:
Eventual profit taking at 2.618 level where XAGUSD breached even below 12.84 and more.