A 1:1 movement (on Daily) has completed with a rising wedge in the end. Expecting a 1.5-2k point pull back to start with. A very good RR trade. :)
Silver had a strong run up till 86k, after which profit booking was seen which brought it down till 83k. Now, pull back of the first wave of profit booking seems complete, which gives another opportunity to take a short trade.
just 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
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...
Friday'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...
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...
Below 72025 breakout, Selling silver for targets of 71000 and 70472 for the longer-term and 71064 as an immediate target. On rejection of immediate support, 72154-150 and the price is rallying up then an alternative short is on rejection of 72750 as resistance.
Breakdown from consolidation in the downtrend. looks like the lower supports will be tested and the momentum oscillators are also in the bearish territory.
Short silver if manages to close below support region. target or next immediate support of silver is marked in the chart.
If silver manages to close below 72733, we may witness a huge fall. expected targets are marked in green line on the chart. which may also act as a support.
Bearish Butterfly In Silver If Breaks 73000 Sell PRZ - 74600/74800 SL - 75001 Target - 73400/73000
Double top formation in silver can be seen in the chart. Short silver below the marked region for the target mentioned. Take entry once 15 minute candle is closed below the region and keep trailing your stoploss according to your risk appetite.
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...
Silver (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 Weekly time Frame it has not broken the trend so my downside target would to 200 EMA
Silver Short with SL of all time high. Sell entry will be triggered at 70659.
Analysing 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.
Analysing 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. Note: All ideas forecasts are my personal views on the market, I share...