Fxprotrader

Silver@ Bearish Butterfly Completion At Key Resistance Level

Short
Fxprotrader Aggiornato   
FX:XAGUSD   Argento / Dollaro
After a sharp rally price in silver is testing a long term resistance level. At that level we have two very important factors which makes me believe that price will sell off. First, we have a completed butterfly pattern (price almost touched the 1.27 level but it's valid to me). At the same resistance level we have a completed 5-3 elliott wave cycle with C wave in the 0.5 - 0.618 fib zone of the 5 impulse waves.

Silveris still in a downtrend and setups like this one are worth involving.

Long term resistance:
Like and comment,
John.
Trade chiuso manualmente:
I will close this trade manually as i expect a pullback
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