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XAGUSD, Elliot Wave Analysis

2/13/2023 10:20 AM

The price is in a correction and may grow.

On the daily chart, a downward correction of the higher level ended as the second wave (2), and the third wave (3) forms, within which the entry first wave of the lower level 1 of (3) develops. Now, the wave iii of 1 has formed, and a local correction is ending as the wave iv of 1, within which the wave (c) of iv is ending. If the assumption is correct, the XAG/USD pair will grow to the area of 26.00–27.00. In this scenario, critical stop loss level is 21.08.


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