XAG/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 23.92 |
| Take Profit | 26.50, 28.50 |
| Stop Loss | 22.47 |
| Key Levels | 19.80, 20.61, 22.47, 26.50, 28.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 22.45 |
| Take Profit | 20.61, 19.80 |
| Stop Loss | 23.05 |
| Key Levels | 19.80, 20.61, 22.47, 26.50, 28.50 |
Growth is possible.
On the daily chart, the third wave of the higher level (3) forms, within which the first wave 1 of (3) ended, a correction formed as the second wave 2 of (3), and the development of the wave 3 of (3) started. Now, the entry first wave of the lower level i of 3 is forming, within which a local correction has developed as the wave (iv) of i, and the wave (v) of i is forming. If the assumption is correct, the XAG/USD pair will grow to the area of 26.50–28.50. In this scenario, critical stop loss level is 22.47.
Main scenario
Long positions will become relevant above the level of 22.47 with the targets at 26.50–28.50. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 22.47 will let the asset go down to the area of 20.61–19.80.
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