XAGUSD | Trading Strategy - Going Short

Bullish Indicators

1. Dow Theory (HH & HL)
2. Bounce from 0.382 Fib Level
3. Seasonal Pattern: Bullish in Jan

If resistance breaks rally will continue.

Bearish Indicators

1. Hanging Man
2. Resistance Level is tested twice at 24.24
3. Bearish ABCD Pattern
4. Bearish Divergence

If, trendline breaks; the trend will go bearish.

Note: According to the seasonal pattern, SILVER has been bullish in January 80% of the time in the past 10 years.

Biased: Short

Trade Plan:

Entry: 23.96
SL: 24.35
TP1: 22.90
TP2: 22.60