Trading plan for Silver vs. US Dollar (XAGUSD)

Silver vs. US Dollar

#XAGUSD

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

Trading idea:

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

Place a Stop Loss above the local high of the truncated upward pattern (53.70).

Target levels: 50.20; 48.90.