XAGUSDSilver ran up hard to close the week. The 10R shows the
supply and demand zones as well as RSI pivot and the volume
profile.
Essentially Friday afternoon's close forms a double top
with the high from the previous morning generating
a reversal pattern.
I think Silver is due to correct and reverse.
For the short setup, I will set a stop loss just above
the recent high of Thursday morning while targetting
just above the top of the support zone
This offers a narrow stop and a high reward for the narrow risk.
Please comment offering your opinion. Thanks !
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.