Strong possibility that XAGUSD will continue to fall.
We can see that there is a channel of ABC and 12345 waves which are quite consistent.
It's still very early as it may be ending its channel.
It's now important to look for a flag or a correction that confirms a BULLISH movement, the formation of an uptrend channel as it breaks out.
Signifying a reversal instead. (In Blue)
A strong BEARISH movement followed by a flag will confirm the short.
Let me know what you think!
We can see that there is a channel of ABC and 12345 waves which are quite consistent.
It's still very early as it may be ending its channel.
It's now important to look for a flag or a correction that confirms a BULLISH movement, the formation of an uptrend channel as it breaks out.
Signifying a reversal instead. (In Blue)
A strong BEARISH movement followed by a flag will confirm the short.
Let me know what you think!