silver fresh level and exisiting pos updatethose who went long from 66k-68k in silver gained almost 2000-2200 pts
i think it will be wise to book profit and wait for new level
the fresh buying level for silver will be 68400
let the price make a pullback after such good impluse movement
follow the price on the basis of lower low and lower high
look when it reaches 68400 zone wait for price to form higher high higher low
as a signal for going long
the current ornage and yellow levels are based on fib levels retracement
look to buy near fva zone
Silverlong
Bulls be carefulFriday's price action
a) brought the price precariously close to the descending triangle breakdown
b) Trendline recapture miserably failed and confirmed the breakdown
Both (and 2 other EW based factors) points towards price reaching green zone after break of blue zone.
The momentum oscillator is also no-where near the oversold zone and indicating some more downside possibility.
Lets see how this develops further.
Happy Trading !
Long XAG/USDXAG/USD Is approaching a very strong pivot level. This level has been tested several times in the past and as we can see on the chart it has been acting as support and resistance both. With the silver having a very sharp fall it is very likely that this level will act as a support, and there can be mean reversion after the extended fall that we have seen in the commodity.
Silver Important levels ! Silver important short term levels are plotted in the chart.
currently silver is trading in the major support zone after a sharp fall in todays session. It is expected that it may bounce back and probable targets on upside are marked in red dashed line.
in case silver manages to close below the support zone, allow 15 minute candle to close it below the level and short for the target marked in green dashed line.
Disclaimer: This is just a view only for educational purpose.
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.
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.
XAGUSDXAGUSD HEAD and Shoulder pattern observed . Expecting breakout from the current level and test the resistance level at 24 and 26. Need some news or event to go higher with good volume till we don't receive the news or any event occur till the time we are gonna consolidate at the current level .
Follow for more :)
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.
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 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.
SILVER52-Week High 27.500
14 Day RSI at 80% 25.112
Pivot Point 3rd Level Resistance 24.219
23.890 3-10 Day MACD Oscillator Stalls
Pivot Point 2nd Level Resistance 23.719
23.642 61.8% Retracement from the 52 Week Low
Pivot Point 1st Resistance Point 23.379
High 23.220 High
1-Month High 23.220
13-Week High 23.220
Last 23.038s Last
14 Day RSI at 70% 22.958
22.879 Pivot Point
22.696 14-3 Day Raw Stochastic at 80%
Previous Close 22.637 Previous Close
🥈 #Silver possible move MCX:SILVER1!
set up says silver is bullish but we can see some resistances also, trade with small targets or trade with trailing stop loss.
📝 If anyone facing any issues or not understanding anything than please ask your doubts in comments.
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**whatever charts or levels or ideas we are sharing here or on any other platform are just for educational purpose only, not a recommendation. Please do your own analysis before taking any trade on it. We are not SEBI registered.
IS IT SMART TO ADD SILVER IN THE PORTFOLIO AT CURRENT LEVELS ?MCX:SILVER1! NO FAVOURABLE CHART PATTERNS, NO TECHNICAL SIGNS OF REVERSAL.
Can a contra bet of long positions be initiated at current levels ?
Well, the retail investors looking for diversification of their portfolio's, have a great opportunity to add silver futures. The risk reward ratio is favourable at current rates plus there is a high chance of bounce back and short covering at the expiry.
But again,
One cannot predict the downfall from the current levels as there are no indications in the chart patterns. Just a blind trade.
The idea shared is for educational purpose only.