I analyze that the XAGUSD pair is trending up mainly due to the fall of the USD dollar .
On the 60-minute chart, in the context of the volume profile an anchored VWAP as
well as the MACD indicator of Chris Moody and the Volume Price Trend, I see an tend
up for the pair from the fall as part of the market shift mid-day on Thursday.
The stop loss is at the support line and the target at the horizontal resistance. If traded
accurately in a leveraged forex environment a simple trade like this could yield significant
realized profits especially if the stop loss is carefully raised at regular intervals using
simple visual "eyeballing" or a mechanical approach using ATR.
On the 60-minute chart, in the context of the volume profile an anchored VWAP as
well as the MACD indicator of Chris Moody and the Volume Price Trend, I see an tend
up for the pair from the fall as part of the market shift mid-day on Thursday.
The stop loss is at the support line and the target at the horizontal resistance. If traded
accurately in a leveraged forex environment a simple trade like this could yield significant
realized profits especially if the stop loss is carefully raised at regular intervals using
simple visual "eyeballing" or a mechanical approach using ATR.
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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.