XAGUSD decision point. Trade the break and retest.

Silver is currently trading in a bearish descending triangle formation which is generally a continuation pattern. In this case it is likely to break down. Take the short at the break below the support and retest. For silver to be bullish and warrant a long it would need to break above the descending triangle top and also break the downtrend resistance in which case a long would be the way you want to go on a retest of the downtrend line.

Leaning bearish here due to the bearish descending triangle.

Trade attivo:

Opened short position

Commento:

Closed 50% of position at $15.00

Commento:

Closed the remaining 50% of the position at $14.283

Trade chiuso: obiettivo raggiunto:

Closed the remaining 50% of the position at $14.283