XAG/USD: Wave Analysis
| Scenario | |
|---|---|
| Time frame | Weekly |
| Recommendation | BUY |
| Entry point | 30.17 |
| Take Profit | 32.68, 33.37 |
| Stop Loss | 29.62 |
| The most important levels | 26.00, 27.74, 29.62, 32.68, 33.37 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL-STOP |
| Entry point | 29.60 |
| Take Profit | 27.74, 26.00 |
| Stop Loss | 30.20 |
| The most important levels | 26.00, 27.74, 29.62, 32.68, 33.37 |
Price correction active, still likely to increase.
On the daily chart, the third upward wave of the older level (3) is being formed, within which wave 3 of (3) has ended and a correction in the form of the fourth wave 4 of (3) can be observed. At the moment, wave a of 4 has ended and a correction in the form of wave b of 4 has begun to form. If the assumption is correct, the XAG/USD pair will rise to the level of 32.68–33.37. The critical stop-loss for this scenario is the level of 29.62.
Basic scenario
Long positions are current above 29.62 with targets 32.68–33.37. Deadline: 7 days and more.
Alternative scenario
A breakout and stop of the price below the 29.62 level will enable the trading instrument to continue its downward dynamics towards the 27.74–26.00 levels.
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