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XAGUSD 2016-09-24 Strategy to move extremely higher

FX:XAGUSD   Perak/Dolar U.S
50 0 3
Weekly:

Correction from 4/25/2011 high ended 12/14/2015. From this bottom, price has moved up and is now staged to drive considerably higher. Using fib scale, targets have been noted on chart.

DMI - The -DMI put in with the 12/14/2105 low has been taken out by the +DMI of price action in April 2016. This indicates that the trend has changed and that further up move is ahead. Additionally, the +DMI has been incrementally increasing with price which is bullish as is the fact that ADX is well above 20 indicating a strong trend. The +/- DMI has collapsed somewhat recently as price corrects which is normal for a correction which should be ending soon.

TSI - The TSI has moved well above 0 indicating good up trend. Recently it has pulled back with price but still well above 0. If this level holds, then this will be a bullish sign

RSI - The RSI has moved up near 80 in 2016 since moving off 40 for most of 2015. Beginning July, RSI has pulled back to 5x range and is holding. With this level, it could be forming a positive reversal off of the May low. Price move above 21 area with RSI moving back toward 80 will confirm.

Long Term: Bullish with big upside potential as targets noted on weekly chart.

Daily:

Beginning mid August 2016, price has moved into consolidation. I expect one more test of support before major up move continues.

DMI - The ADX moved below in mid August 2016. As this pattern continues with +/-DMI swapping dominance, I look for price to continue to consolidate between the lines of resistance and support.

TSI - During period at beginning of price consolidation, TSI moved below 0. However, as price consolidated, the TSI has been moving up and has crossed up over 0.

RSI - As with the TSI, the RSI moved down too to 30 but since moved up to 40. The RSI has been consolidating between 40 and a support line. My interpretation is that RSI will break out to upside and move back toward 80.

On both the 4H and 1H charts, I've placed the resistance/support lines from daily chart . I expect a final leg down to support (which could end in a failure) before price continues up.

4H:


1H:
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