Silver
SILVER VIEW (PATTERN OBSERVED )Silver formed inverted head and shoulders pattern . if we break above 25$ then we will be heading for $28 in short term . if we break below $24 then we will be facing heavy selloff to 20$ in short term .position size should be taken care off .
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Silver - Correction about to complete, will resume uptrend soonSilver has completed 1-2-3-4-5 and A-B-C
C is unfolding in 5 waves and looks like 1-2-3-4 is done, any dip from here should be looked as an opportunity to buy.
Entry can be based on bullish candlestick pattern or violation of wave 4 of C high (64450)
Silver Daily Gann Chart Pointing HigherCurrently, silver has jumped back into the uptrend area. It has also broken the parallel channel in the last trading session. But, the buy is not confirmed yet. The uptrend can be resume if it remains above 0.618 of retracement level and 3/1 & 8/1.
If that happens, then you can buy for the targets of 63900 - 65100 - 65960 - 68454.
What happens if it's fake-out? That's a straightforward scenario on the above chart. MCX silver futures will come under the control of sellers in the downtrend area. It will fall nonstop for the targets of 59960 - 59400 - 58600 - 55765.
#GOLD #XAUUSD heading to new high from a Triangle consolidationGold may have completed a yearlong triangle consolidation and has broken upwards. It is now in its 2nd day outside of a downward sloping trendline. Wave e is around 1721, with this as a stop we should expect a rally to new highs. Silver is already showing strength as discussed in the earlier post. Gold may be joining the upmove now.
SILVER Trading Plan - 24/Oct/2021Hello Traders,
Hope you all are doing good!!
I expect silver to go down after the correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea