Silver Trading Plan - 06/Apr/2022Hello Traders,
Hope you all are doing good!!
I expect silver to go UP after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
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
XAG USD ( Silver / US Dollar)
💡Don't miss the great buy opportunity in XAGUSD (SILVER)Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (22.64).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAGUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 53.
Take Profits:
TP1= @ 23.20
TP2= @ 23.56
TP3= @ 23.91
TP4= @ 24.52
TP5= @ 25.03
SL= Break below S2
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Silver pierces six-month-old resistance despite overbought RSISilver pierced 61.8% Fibonacci retracement (Fibo.) of May-September 2021 downtrend to refresh seven-month high on Tuesday. Following that, an upward sloping trend line from September 2021 challenged the metal’s buyers but couldn’t hold the forte. Also acting as the key hurdle is the overbought RSI conditions suggesting a pullback. Given the quote’s sustained trading above the $26.20 trend line figure, the 78.6% Fibo. level surrounding $27.15 and multiple levels marked during mid-2021 around $28.20 will question the commodity’s rally targeting the May 2021 peak of $28.72.
Alternatively, a pullback in silver prices, which is widely anticipated, needs validation from the late 2021 peak of $25.35. Following that, January’s high of $24.68 and the 200-DMA near $24.10 will gain the market’s attention. If at all the commodity prices break $24.10 DMA support, it becomes vulnerable to test the 2022 bottom close to $22.00. During the fall, the 100-DMA level of $23.50 may act as an intermediate halt.
To sum up, silver prices stay above the short-term key resistance line as the oscillators suggest a pullback move.
SILVER Trading Plan - 24/Oct/2021Hello Traders,
Hope you all are doing good!!
I expect silver to go down after the correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
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
💡Don't miss the great buy opportunity in XAGUSD (SILVER)Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (22.66).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAGUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 55.
Take Profits:
TP1= @ 23.14
TP2= @ 23.43
TP3= @ 23.96
TP4= @ 24.59
TP5= @ 25.12
TP6= @ 25.52
TP7= @ 26.00
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
💡Don't miss the great buy opportunity in XAGUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (22.470).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAGUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 52.
Take Profits:
TP1= @ 22.787
TP2= @ 23.124
TP3= @ 23.404
TP4= @ 23.700
TP5= @ 23.954
TP6= @ 24.289
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
#Silver #XAGUSD may have completed a long sideways correction Silver seems to have completed a rather long sideways correction to 21.42 levels. A labelled chart is shown. Yesterday's dip was a 5th wave downside thrust from a 4th wave triangle and found support at the earlier low in Sep '20
If yesterdays low holds, we are headed higher. The Risk to Reward on this trade is worth a bet on. Look for new multi year highs if 21.40 level holds
The current count has a very small wave 2 (circle) and a large wave 4 (circle) - This is not ideal but we'll go with this for now. The alternate is that the current sideways move is Wave 2 and the Aug '20 high was wave 1 - this makes it a extremely bullish count.