Silver 58.74 short position is already set—55% win rate, would you dare to follow?



$XAG /USDT - SHORT sell

Trading plan:
Entry: 58.65 – 58.83
SL: 59.61
TP1: 58.09
TP2: 57.65
TP3: 57.00

Why focus on this structure?
- 4H timeframe bearish signal; within the 1D consolidation range. On the short-term, RSI on 15M is only 46.72, momentum is weak.
- ATR on 1H is only 0.36; volatility is tightening. The bearish target TP2 is at 57.65, and the reward-to-risk ratio is close to 3:1.
- Stop loss at 59.61; if it breaks above 59.78, the setup is invalid. The current entry price of 58.74 is right at the resistance zone.

Discussion:
Will this move first hit TP2, or is it going to fake a breakdown and rebound to 59.83?
XAG1.93%
View Original
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments