Trading plan for Silver vs. US Dollar (XAGUSD)

Silver vs. US Dollar

#XAGUSD

The trend is bearish. Silver is trading between the 365 EMA and the 135 EMA. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator signals overbought conditions. The upward wave pattern is truncated.

Trading idea:

Sell upon the formation of a downward wave pattern where wave (A) breaks the trendline of the truncated upward pattern.

Place the Stop Loss above the local high of the truncated upward pattern.

Target levels: 64.254; 62.900.