On November 18 2020 I posted on social media @AidanFX “”Watching for selling opportunities. Expecting more downside. as long price stays below 25.07 expect a move lower towards the 23 handle.
The chart below was also posted on social media @AidanFX November 18 2020 showing the SELL entry. I called for traders to SELL/SHORT at 24.31 with stops at 25.06 targeting the minimum 1:1 RR (23.56) and lower towards the 23 handle.
XAGUSD 1 Hour Chart November 18 2020
XAGUSD Social Media Post @AidanFX November 18/2020
Silver eventually moves lower and on November 24 2020 price hits the 1:1.5 RR target at 23.18 from 24.31 for +113 pips. By the end of the trading week November 27/2020 XAGUSD continued the move lower and broke below the 23 handle as we expected November 18/2020. If you followed me on Twitter/Stocktwits @AidanFX you too could have caught the XAGUSD move lower. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100% is that we are RIGHT more than we are WRONG.
XAGUSD 1 Hour Chart November 24 2020
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
At Elliottwave-Forecast we cover 78 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different time frames and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos and we have a 24 Chat Room. Our clients are always in the loop for the next market move.
Try Elliottwave-Forecast for 14 days FREE !!! Just click here –> 14 day FREE trialBack