FXNOVA Strategy – XAGUSD Pullback Sell from Supply Zone
Analysis
Silver on the 1H timeframe is still operating under a broader bearish structure, despite the recent short-term bullish correction. The move from ~66 to ~72 is a retracement into supply, not a confirmed trend reversal. Structure remains fragile with multiple internal BOS but no higher timeframe shift.
Current price is approaching a key supply zone around 72.30–73.50, aligned with previous distribution and rejection points. This zone also sits below a strong high (~74.50), reinforcing the probability of sellers defending this area.
The reaction into this zone is relatively slow and corrective, suggesting weak buying pressure. Liquidity below remains attractive, especially toward the 68.00–66.50 demand zone, which has been tested previously.
As long as price stays below 73.50, the bias remains bearish for continuation.
Trade Setup
Enter: Sell near 72.30–72.80
Stop-Loss (SL): 74.20
Target A: 69.50
Target B: 67.00
