Triangle breakout in silver. Down to earth..
Elliott Wave Analysis:-
1st possibility:- (look Previous chart published)
Silver is in a triangle breakout. if it is getting towards upside breakout then we have a nice opportunity of pullback and and we can add it if the pullback occurs. else we can enjoy this journey quietly.
2nd possibility:-
Silver had already made a pullback towards down side breakout. Once it start the way it will fly towards downside and then it will complete a C wave in whole B wave then upside C wave will be impulsive.
My Entry, Stop, Target all have been discussed.
My suggestion to take a trade at this place to reduce the risk better reward.
I just spoke what chart whisper's in my ear.
I am not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor. I share chart for education purpose only. I share my trade setup.
Silver
Silver MCX - Elliot Wave Counts - Long TradeSilver lagged Gold in the entire run up through the year
However, in last week Silver held quite well, while Gold has been correcting.
It seems like weekly Wave 4 is done and 1,2 of Wave 5 are done.
Wave 3 - targets 1.1L, 1.15L. Wave 5 targets + 1.2L
All the best!
Best Commodity layoutBest Commodity layout
Crafting Your Optimal Commodity Technical Chart Layout in TradingView
The "best" commodity technical chart layout in TradingView is highly personalized, depending on your trading style, strategy, and the specific commodities you're analyzing. However, a well-structured layout should provide a clear, comprehensive view of price action and key technical indicators to aid in decision-making.
Here's a guide to creating an effective commodity technical chart layout in TradingView, incorporating common practices and versatile tools:
1. Choosing Your Main Chart Type:
Candlestick Charts: This is the most popular choice for most traders. Candlesticks provide detailed information about the open, high, low, and close (OHLC) prices for a specific period, making it easier to identify patterns and market sentiment.
Bar Charts: Similar to candlesticks, bar charts also display OHLC data but in a different visual format.
Line Charts: Useful for a quick overview of the overall trend, typically plotting the closing prices.
Heikin Ashi: These charts can help filter out market noise and make trends easier to identify by averaging price data.
Renko or Kagi Charts: These focus solely on price movement, ignoring time, and can be useful for identifying support and resistance levels.
Recommendation: Start with Candlestick charts for their detailed information. You can always switch to other types for different analytical perspectives.
2. Essential Technical Indicators for Commodities:
While the "best" set of indicators is subjective, here are some widely used and effective ones for commodity analysis in TradingView:
Moving Averages (MAs):
Types: Simple Moving Average (SMA) and Exponential Moving Average (EMA) are common. EMAs react faster to recent price changes.
Use: Identify trend direction, support/resistance levels, and potential crossover signals. Common periods include 20, 50, 100, and 200.
Layout: Add 2-3 MAs of different lengths directly onto your main price chart. For example, a 21-period EMA for short-term trends and a 50-period EMA for medium-term trends.
Volume Indicators:
Types: Volume (displays trading activity) and On-Balance Volume (OBV).
Use: Confirm the strength of price movements. A significant price move accompanied by high volume is generally considered more valid.
Layout: Typically displayed in a separate pane below the main price chart.
Oscillators (for identifying overbought/oversold conditions and momentum):
Relative Strength Index (RSI): Measures the speed and change of price movements. Values above 70 often indicate overbought conditions, while below 30 suggest oversold conditions. Standard period is 14.
Moving Average Convergence Divergence (MACD): Shows the relationship between two moving averages of an asset's price. It consists of the MACD line, signal line, and histogram.1 Used for trend identification and momentum.
1.
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Stochastic Oscillator: Compares a particular closing price of an asset to a range of its prices over a certain period. Also used to identify overbought/oversold conditions.
Commodity Channel Index (CCI): Identifies cyclical trends and can signal overbought/oversold levels.
Layout: Oscillators are usually placed in separate panes below the main chart. You might choose 1 or 2 that best suit your strategy (e.g., RSI and MACD).
Volatility Indicators:
Bollinger Bands: Consist of a middle band (typically an SMA) and two outer bands representing standard deviations. They help identify volatility and potential price breakouts or mean reversion.
Keltner Channels: Similar to Bollinger Bands but use Average True Range (ATR) for the outer bands. Can be used for breakout and trend-following strategies.
Average True Range (ATR): Measures market volatility. Useful for setting stop-loss orders.
Layout: Bollinger Bands and Keltner Channels are overlaid on the main price chart. ATR is usually in a separate pane.
Trend-Following Indicators:
Ichimoku Cloud (Ichimoku Kinko Hyo): A comprehensive indicator that defines support/resistance, identifies trend direction, and provides trading signals. It includes several components like the Kumo (Cloud), Tenkan-sen, and Kijun-sen.
Donchian Channels: Plots the highest high and lowest low over a set period. Useful for identifying breakouts and trend direction.
Layout: Ichimoku Cloud and Donchian Channels are overlaid on the main price chart.
Recommendation for a Balanced Layout:
Main Chart: Candlesticks, 2-3 EMAs (e.g., 21, 50, 200), Bollinger Bands or Keltner Channels.
Pane 1 (below main): Volume.
Pane 2 (below main): RSI (14) or MACD.
Pane 3 (optional): CCI or ATR if your strategy heavily relies on them.
3. Drawing Tools:
Effective use of drawing tools is crucial for technical analysis:
Trendlines: Connect swing highs or lows to identify the direction and strength of trends.
Support and Resistance Levels: Horizontal lines drawn at key price levels where the price has historically struggled to break above (resistance) or fall below (support).
Fibonacci Retracement and Extension Levels: Help identify potential support/resistance levels and price targets based on Fibonacci ratios.
Channels: Parallel trendlines that can define a price range.
Chart Patterns: Use tools to identify patterns like head and shoulders, triangles, flags, and pennants.
Layout Tip: Keep your most frequently used drawing tools easily accessible in the TradingView drawing panel.
4. Multi-Timeframe Analysis & Multi-Chart Layouts:
Analyzing commodities across different timeframes can provide a broader market perspective. TradingView allows you to set up multi-chart layouts (the number of charts available depends on your subscription plan).
Common Setup:
Chart 1 (Long-Term): Weekly or Daily chart to identify the major trend.
Chart 2 (Medium-Term): 4-hour or Daily chart for more detailed trend analysis and identifying key levels.
Chart 3 (Short-Term): 1-hour or 15-minute chart for entry and exit signals.
Synchronization: TradingView allows you to synchronize symbols, crosshair, interval, and drawings across multiple charts in a layout, which can be very efficient.
5. Customization and Saving Your Layout:
Appearance: Customize chart colors (background, candles, grids), scales, and lines to your preference for better visual clarity and reduced eye strain. Access these via Chart Settings (the gear icon).
Saving Layouts: Once you have a setup you like, save it as a chart layout in TradingView. You can create multiple layouts for different commodities, strategies, or analytical purposes.
Indicator Templates: Save combinations of indicators as templates for quick application to new charts.
Tips for the "Best" Layout:
Keep it Clean: Avoid cluttering your chart with too many indicators. Focus on a few that you understand well and that complement your strategy.
Consistency: Use consistent settings for your indicators across different charts and timeframes.
Practice: The "best" layout is one that works for you. Experiment with different indicators and setups on a demo account or through backtesting to see what yields the best results for your trading style.
Stay Informed: Be aware that some commodities (e.g., agricultural products) can be influenced by seasonal patterns or specific reports (like USDA reports for crops, EIA for oil). While not a direct part of the "chart layout," integrating this knowledge with your technical analysis is crucial. TradingView has features to display key events like earnings reports or dividends, which can be relevant. Some community scripts on TradingView even offer overlays for planting and harvesting seasons for agricultural commodities.
By following these guidelines and experimenting to find what suits your individual needs, you can create a powerful and effective commodity technical chart layout in TradingView. Remember to regularly review and refine your layout as your trading strategies evolve.
"Silver – Bearish Move Toward Support"🧠 Market Overview:
Instrument: Likely Silver (based on file name).
Chart Context: The price is currently trading below both the 50 EMA (red) and 200 EMA (blue), indicating bearish momentum and a possible shift in market structure.
📊 Key Technical Components:
🔹 Exponential Moving Averages (EMA):
50 EMA (32.614) is above the 200 EMA (32.526) but both are above the current price.
This crossover is recent and could indicate the beginning of a larger downtrend if confirmed by continued price action below both EMAs.
🔹 Market Structure:
POI (Point of Interest) marks a previous swing high where selling pressure emerged.
The chart shows internal liquidity (INT.LQ) sweeps both above and below consolidation areas, hinting at smart money manipulation to grab liquidity before making a move.
🔹 Resistance Zone:
Clearly defined between approx. 33.4–34.0, where price was rejected after a failed attempt to break higher.
Multiple rejections from this zone show strong selling pressure.
🔹 Support Zone:
Sitting between approx. 30.8–31.2.
Price previously consolidated here before a bullish move, making it a likely target for a return test or a potential bounce.
📉 Bearish Scenario & Projection:
The price broke below a short-term structure and failed to hold above EMAs.
The current price action shows a bearish pullback likely to form a Lower High (LH).
The projected path shows a pullback to previous support-turned-resistance, followed by a breakdown targeting the support zone.
✅ Bias:
Short-term bias: Bearish
Medium-term bias: Bearish, unless price reclaims the 200 EMA and consolidates above the resistance zone.
🔍 Confluences Supporting Bearish Outlook:
Price below EMAs (dynamic resistance).
Failed higher highs with liquidity sweeps (indicating smart money selling).
Clear market structure shift to the downside.
Anticipated retest of support zone around 30.8–31.2.
XAG: Silver projected for a fall till 24.50
Bearish invalidation if the price doesn't close, confirms the close below $28.75, and breaks the resistance level of 31.8875.
Right now it's a wait-and-watch scenario. Trade for sell will be active either on rejection of resistance or break-down of support
Silver Going Parabolic Silver tried to break out of the horizontal range thrice (marked on chart), but was finally successful only in its third attempt on 6th Jan 2025 and did a retest too.
Post 6th Jan 2025, Silver has been in uptrend keeping up with the Gold in terms of trajectory.
It looks like there is more room upwards as geopolitical events (Tariffs, trade wars etc) shape coming months and uncertainty remains high.
Lets see how it plays out.
Trade Safe
Gold silver update next Our Spot #Gold Range Prediction from 31/03/2025 to 04/04/2025 is as under.
Gold Spot : 3023$-3126$
Gold INR : 88100-91050
Our Spot #Silver Range prediction from 31/03/2025 to 04/04/2025 is as under.
Silver Spot: 33.44$-35.05$
Silver INR: 98400-103200
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
Gold silver update Our Spot #Gold Range Prediction from 31/03/2025 to 04/04/2025 is as under.
Gold Spot : 3023$-3126$
Gold INR : 88100-91050
Our Spot #Silver Range prediction from 31/03/2025 to 04/04/2025 is as under.
Silver Spot: 33.44$-35.05$
Silver INR: 98400-103200
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
Good silver next wives Our Spot #Gold Range Prediction from 31/03/2025 to 04/04/2025 is as under.
Gold Spot : 3023$-3126$
Gold INR : 88100-91050
Our Spot #Silver Range prediction from 31/03/2025 to 04/04/2025 is as under.
Silver Spot: 33.44$-35.05$
Silver INR: 98400-103200
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
XAG/USD (Silver) 4H Chart Analysis – Bearish Setup📉 XAG/USD (Silver) 4H Chart Analysis – Bearish Setup 🚨
🔍 Key Observations:
Supply Zone (POI - Point of Interest) 🟪: The price is approaching a strong resistance area around $33.23 - $33.50.
Liquidity Grab (LQ) & Rejection Expected ❌: The previous major liquidity zone (LQ) suggests a possible fake breakout or rejection.
Bearish Projection ⬇️: The chart outlines a potential reversal after reaching resistance, leading to a drop towards $31.00 - $30.50.
📌 Trading Plan:
Short Entry 🎯: Around $33.20 - $33.50 (if price rejects this area).
Target 🎯: Major demand zone at $31.00.
Stop Loss 🚨: Above $33.60 (to avoid fakeouts).
Confirmation Needed 📊: Look for bearish candlestick patterns (e.g., engulfing, wicks, or double top formations).
⚠️ Final Thoughts:
Bearish Bias ⚠️ unless price breaks and holds above $33.50.
Monitor market conditions 🧐—news and fundamentals could shift momentum.
🔥 Trade smart! What do you think?
Silver Following Our Blueprint Perfectly - Latest PA Update Looks like my previous analysis on silver played out exactly as expected! That black arrow path we discussed when silver was trading in the 29-30 zone has materialized beautifully, bringing us to our current price of 32.74.
Current Technical Picture
Silver is giving us some strong bullish signals right now. After testing the immediate support zone at 31.80-32.20 (marked as "Immediate support" on the chart), price has bounced nicely. This area has proven to be reliable support during this recent leg up.
The red horizontal resistance zone around 34.80 is the next major hurdle to overcome. This level caused rejection back in October 2024, so we can expect some selling pressure there initially.
The key correlation right now is with gold. Silver tends to follow gold lead but with amplified moves. If gold manages to break out of its range (as we discussed in the gold analysis today), silver could really take off with an explosive move higher.
The current setup remains bullish as long as price stays above the immediate support zone (31.80-32.20). The risk/reward for longs is quite favorable here, with multiple support levels underneath current price.
The major support at 30 (green horizontal line) looks solid, providing a clear level to manage risk against for longer-term positions.
I'm watching for gold to provide the trigger for silver's next big move. Once gold confirms its direction, silver is likely to follow with even greater percentage moves.
This setup continues to develop exactly as predicted in our previous analysis .
Inverse Head and Shoulders pattern on the Silver Futures (MCX)The 4-hour Silver Futures (MCX) chart is showing a clear Inverse Head and Shoulders pattern, a bullish reversal signal. The pattern comprises a left shoulder, head, and right shoulder, with the neckline around the ₹97,800 - ₹98,300 region.
The price is currently testing this neckline, and a successful breakout above this level, confirmed by increased volume, could trigger a significant upward move.
GOLD UPDATE Our Spot #Gold Range Prediction from 06/03/2025 to 07/03/2025 is as under.
Gold Spot :2890$-2930$
Gold INR : 85000-86450
Our Spot #Silver Range prediction from 06/03/2025 to 07/03/2025 is as under.
Silver Spot: 31.88$-32.44$
Silver INR: 93500-98100
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
GOLD UPDATE THIS WEEKEND Our Spot #Gold Range Prediction from 17/02/2025 to 21/02/2025 is as under.
Gold Spot :2822$-2910$-2936$
Gold INR : 82900-85550-86300
Our Spot #Silver Range prediction from 17/02/2025 to 21/02/2025 is as under.
Silver Spot: 31.03$-32.58$-33.42$
Silver INR: 92250-96850-99350
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
Silver (XAG/USD) Gaining Momentum – Next Target $32-$33?Silver is showing strong bullish momentum, currently trading around $31.53, with a +1.25% gain. The price has broken above key resistance levels and is now trading above the 200 EMA (currently at $30.48), which signals a potential continuation of the uptrend.
There's a fair volume range above, along with an internal liquidity level (Int. LQ), which could act as the next target. The market has already filled a previous market block (MB), suggesting that the structure is clean for further upside.
If this bullish momentum holds, the price could push toward $32 - $33 in the short term. A retest of support near $30.50 (200 EMA) would still keep the uptrend intact.
Silver Commodity - Breakout in Day TimeFrameSince September, silver futures have been consolidating, indicating a period of price stability and indecision among traders. As of today, January 30, 2025, the market has experienced a breakout from the established trendline, signaling a potential shift in momentum. This breakout could suggest renewed buying interest and the possibility of upward price movement, making it an opportune time for traders to reassess their positions and strategies in light of this development.
Silver's Ready to Shine? The Silver showing good bullish sentiment as the price has shown resilience by bouncing off significant support and breaking through resistance levels.
Expecting a move towards 34.0000 is is possible if buyers defend 29-30 level on daily TF, especially if the price can maintain above the recent highs and continue to show higher volume on upward movements.
The price has recently moved through a liquidity zone around 30.51025, suggesting that smart money might have taken advantage of this area to initiate trades, pushing the price higher.
The volume at the recent low was significantly higher , indicating strong buying pressure at this level, which is positive for a bullish outlook.
So i think it is good idea to consider a swing buy at current price level i.e., around 30-30.35 area for the target of 34,40 and 50.
Gold silver Outlook next week Our Spot #Gold Range Prediction from 13/01/2025 to 18/01/2025 is as under.
Gold Spot :2605$-2710$
Gold INR : 76200-78800
Our Spot #Silver Range prediction from 13/01/2025 to 18/01/2025 is as under.
Silver Spot: 28.30$-30.80$
Silver INR: 86450-92900
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , expected tax & duty changes, other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
These are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
SILVER FUTURES - INTRADAY In silver futures, 88,800 has been acting as a support level since December 23. Currently, the price is near this support line and hovering around the Weekly CPR (blue dotted lines). Silver can be considered for intraday trading now, with a stop-loss below the blue line or 88,600.
Building Emotional Intelligence in Trading: Your Edge for 2025
Emotional intelligence (EQ) is often the unsung hero of successful trading. It involves understanding your emotions and those of others to enhance decision-making, manage stress, and navigate the often tumultuous financial markets. Here's how to leverage EQ to improve your trading outcomes in the coming year:
1. Self-Awareness - Know Your Emotional Triggers:
Concept: Recognize what emotions drive your trading decisions. Are you prone to fear, greed, or overconfidence?
Application: Keep a trading diary where you note not just your trades but your emotional state before, during, and after each transaction. This can reveal patterns in how emotions affect your trading.
2. Self-Regulation - Control Impulsive Reactions:
Concept: Manage your reactions to market movements to avoid knee-jerk trades.
Application: Set pre-defined rules for when to trade and when to step back. Use techniques like deep breathing or stepping away from the screen to calm down during high volatility.
3. Motivation - Stay Driven by Your Goals:
Concept: Use intrinsic motivation to keep your focus on long-term goals rather than short-term gains or losses.
Application: Define clear, long-term trading objectives and remind yourself of these goals when facing setbacks. Celebrate small wins to maintain motivation without becoming complacent.
4. Empathy - Understand Market Sentiment:
Concept: Gain insight into how others perceive the market, which can be as crucial as technical analysis.
Application: Monitor market sentiment through news, social media, and community discussions. This broader perspective can help you anticipate market moves based on collective behavior rather than just individual analysis.
5. Social Skills - :
Concept: Build and leverage relationships with other traders for mutual growth and support.
Application: Engage in trading communities, share your insights, and learn from others. Networking can provide emotional support, new strategies, and a sense of belonging which is vital during tough market conditions.
Practical Steps for Enhancing EQ in Trading:
Regular Reflection: Dedicate time weekly to reflect on your emotional responses to trades. What went well emotionally? What could be improved?
Mindfulness Practices: Incorporate mindfulness or meditation into your routine. This can aid in maintaining focus and managing stress, both critical in trading.
Emotional Check-ins: Before making a trade, do a quick emotional check. Are you feeling pressured, excited, or calm? Adjust your approach accordingly.
Scenario Planning: Visualize different market scenarios and your emotional responses to them. This mental preparation can help in real-time decision-making.
Continuous Learning: Read about behavioral economics or psychology related to trading. Books like "Thinking, Fast and Slow" by Daniel Kahneman can offer profound insights.