Hello There,

welcome to my new analysis of XAGUSD from a daily timeframe perspective. In recent times, I have spotted interesting setups in the markets for precious metals, with XAGUSD being one of them. Especially when the formation, which I detected, completes, this is likely to lead to the realization of a strong surplus trading opportunity.

As when looking at my chart now, we can see how XAGUSD is now about to complete this gigantic descending triangle formation. In this formation, the wave count has finalized, and XAGUSD moves into the lower supports consisting of the lower boundary of the triangle as well as the EMAs. With XAGUSD bouncing in this area, a final breakout is not far away.

The final breakout above the upper boundary, as seen in my chart, will complete the whole descending triangle formation. XAGUSD is going to set up the bullish expansion wave. This bullishness is going to accelerate with additional volume and momentum. The final targets of the formation will be activated as seen in my chart.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP