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Silver 59.00 bear trap incoming?
$XAG /USDT - SHORT
Trade Plan:
Entry: 58.80 – 59.10
SL: 60.43
TP1: 57.84
TP2: 57.10
TP3: 55.98
Why focus on this structure?
- Bearish signal confirmed on 4H, RSI at 45.75 not oversold, room for further downside.
- 1D trend choppy, but 15M RSI has already dropped below 50, bearish momentum is starting.
- Entering SHORT now, TP1 at 57.84, TP2 at 57.10, high risk-reward ratio.
Discussion:
Will silver first dump to TP2, or get pulled back by bulls for a trap?