XAGUSD: Price Approaching Critical Zone. Watch for Reversal
Hi Traders,
Silver has yielded a textbook double-three expanding flat. The key fibonacci levels for wave X (1.05 - 1.38) have been respected and I'm therefore expecting price to reverse from within the golden zone (0.50 - 0.618). The golden zone in this case will be the zone where wave B retraces wave A. As such such, what we're looking to trade is wave C and the target is within the blue box between 15.60 and 14.93.
Regards
Wave Theorist
Silver has yielded a textbook double-three expanding flat. The key fibonacci levels for wave X (1.05 - 1.38) have been respected and I'm therefore expecting price to reverse from within the golden zone (0.50 - 0.618). The golden zone in this case will be the zone where wave B retraces wave A. As such such, what we're looking to trade is wave C and the target is within the blue box between 15.60 and 14.93.
Regards
Wave Theorist
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