Silveranalysis
SILVER possible Elliott wave sountsHello Friends,
Here we have shared possible Elliot wave counts of SILVER 4 hourly chart in which we can say possibly we are heading towards north direction as a fresh impulse wave, which can lead towards Bullish bias as now onwards.
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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
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Silver on weekly resistance Silver on weekly resistance comex chart , looks for retrace on forthcoming weeks
Silver possible Elliot wave counts (Now down and then Up)Silver is now ready to dip down and to unfold wave 5 of (C)
and as per equality, Target of (C) equal to (A) is pegged at 19.963 and 1.618 is pegged at $ 18.350,
which can be stop loss for fresh long positions to be made below $ 20.
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Head and Shoulders top in SilverSilver (XAGUSD) has formed a head and shoulders type rounding top on the 4h time frame. The price is still at the supply line. A breakdown below this line would be bearish for the commodity with measured move target of 21.75.
Price action at 23.15 to 23.50 zone is critical and would decide the next course of action.
BIG UPSIDE RALLY CAN POSSIBLE IN SILVER UPTO $29 - $33 IN MARCHAs per Elliott Wave Analysis , Big upside rally can possible in SILVER . On daily timeframe, waves 1,2,3 & 4 are completed. Wave 2 retraced more than 61.8% of wave 1 & shows Irregular Correction. Wave 4 retraced 38.2% of Wave 3 & shows Complex Correction ( Triple Zigzag Correction). Wave 3 is extended wave. Now, regular targets of 5th wave shall be $25.16, $25.95 & $27 . But, 5th wave having potential to make overall structure of "Double Extension Impulse Pattern ". If 5th wave makes overall structure of "Double Extension Impulse pattern" then the targets shall be very high upto $29.47 or $33 & these targets should come till March month end . This might sounds irrational at this time but it can happen according to Elliott Wave Analysis .
Silver UP move after completing 3 Waves CorrectionOn Weekly Basis:
Silver completed its correction from USD 12 to 29 in its Grand Wave. There is a support at 23.35 and 22.15 on weekly charts. Grand Correction Wave A, B and C is over in Silver which started in August 2021. B Wave got over in Feb'22 and C Wave got over in August,22. One can be cautiously optimistic and it provides a good choice to buy at 23 or current level with a target of 34 which becomes a strong buy from long term point of view. There is a golden cross over at 200 DMA, happened in December'22. It has come out of oversold position to neutral zone. RSI was deeply oversold in July'22 before showing the signs of bottoming out in October'22. Now it has broken the downward trendline and correcting sideways at 23.50 to 24.50 levels.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.
Silver Trading Plan - 30/Nov/2022Hello Traders,
Hope you all are doing good!!
I expect SILVER to go Down after finishing this correction.
Look for your SELL setups.
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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
SILVER SELL IDEA 1HAnalysing the H1 time frame i spotted the raising trend channel where i expect the breakout of the channel below the boundary, but till then the channel is active, you should wait for the breakout then sell at retest area, if you are willing to buy, you can look for confirmation using 5M, 15M TM for trading pull back.
SILVER SELL IDEA D1Analysing Daily timeframe, i spotted that the silver traded within the raising trend channel and have reached its resistance, soon the price will reverse to the downside, you can use the FIB numbers to identify next supports as i consider the horizontal key support with rectangle drawing.
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