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XAGUSD, Elliot Wave Analysis

11/15/2022 10:35 AM

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), within which the wave C of (2) formed, and the development of the third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) has formed, within which the wave (v) of i has ended. If the assumption is correct, after the end of the local correction ii of 1 of (3), the XAG/USD pair will grow to the area of 23.70–25.00. In this scenario, critical stop loss level is 19.25.

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