Idea for XAGUSD
Top can be seen to be suggested perfectly by the Fibonacci spiral
price can be seen to trade along the 1 fib level within the Fibonacci circle
The bullish divergence might provide enough momentum for a bounce up to the level indicated however i think the spiral indicated will be the bottom.
Currently under the 200MA also.
The transition between fib rings within the circle may create some volatility.
Top can be seen to be suggested perfectly by the Fibonacci spiral
price can be seen to trade along the 1 fib level within the Fibonacci circle
The bullish divergence might provide enough momentum for a bounce up to the level indicated however i think the spiral indicated will be the bottom.
Currently under the 200MA also.
The transition between fib rings within the circle may create some volatility.
Note
Bottom would be along the fib spiral not where the arrow is indicating, a bit low
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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.