XAGUSD/SILVER 4H BUY PROJECTION 06.09.24In this latest upward cycle of the silver market, Fed interest rate moves are playing an oversized role in pumping up silver prices. In early July, as analysts factored in the rising potential for interest rate cuts in the remainder of 2024, silver prices were once again testing May's nearly 12-year high.
Silvershort
Silver sell on risejust like gold silver gap up on 20th march the price is fading its buying momentum and with that bias im looking for sell on rise setup
which i think 75300 could be the short entry and sl will be 75500 with the target of 74300 and second target of 73600
conclusion the target area are possible area to boost the buying liquidity again there will be exiting the trade
Short the SILVER(XAGUSD).Elliott wave analysis:-
Impulse wave formation has been formed.
1,3,5 wave are impulse and the 5the wave was an Ending Diagonal. .
if this wave has not broke above the 5th wave then we can go for short at CMP.
stoploss@22.24201
if pattern failed then we have to wait and watch the wave formation.
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.
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 !
silver could fall 3-4% ?? The Gap up of 30th aug was not Bullish case in the price
gap just grabed all the pending liqduidity from old order block (from 20 and 27 july)
due to gap up price face hard selling liquidity and buyer liquidity made a stretch of (15 or more than !%) which created the imbalance
with all this conditions it is clear that price will be dropping lower to find more buyer liqudity
the red arrow highlighting the buyer liqudity lvls
for long entry only from 70600 - 70400 & main point of interest will be 70,000 - 69350
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.
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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.
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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Silver to resume Bear Market rallyOn Weekly Basis:
Silver completed its 50% correction from USD 26 to 18. There are several resistance pivots at 22.15 on weekly charts. Wave A, B, C and D is over in Silver and Wave E should resume anytime now. Short sell is a good choice at 22 level with a target of 14 which becomes a strong buy from long term point of view. 200 DMA is also at 21.45 where price below the level would confirm the bear market rally. It has come out of oversold position to neutral zone.
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.