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.
XAG USD (Silver / US Dollar)
TRIANGLE breakout in SILVER (XAGUSD)Elliott wave analysis:-
View 1:-
if it is a BULLISH triangle then it will break upside and the entire pattern next to w) wave is TRIANGLE X) Pattern.
View 2:-
If X wave was flat correction then a) wave was completed and b) wave was a BEARISH triangle and C wave has to break downside and the target will be same size of a) wave.
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.
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.
a short explanation on the commodities and setupsA short video on the gold and silver after the fall yesterday and looking at the longer term time frame to understand the key levels. Gold has been the worst performer while the rest are actually looking bullish. Silver has been outperforming gold and that is something that we need to be aware of as it is also used in the industry. Overall the base metals and silver seem to be doing better than gold. The news from bank of canada increasing the rates did not sit well with the market with both gold and silver falling immediately after that. Anytime we have the yields go up the metals and other investment instruments which are assets without any yields underperform and become unattractive comparatively.
SILVER- Inverted Head and Shoulders Breakout BUY!Attached: XAGUSD Daily Chart as of 17th March 2023
Price closed up 4.20% on Friday with a Bullish Marubozu Candle
At the same time also triggering a Bullish Inverted Head & Shoulder Pattern Breakout
Action Plan as follows:
Buy triggered with Friday's Closing✅
Stop Loss⚠️ below 21.25
Upside Target🎯= 25 + (which is also the measured move of the IHNS Pattern)
Silver has to catch up📈 with Gold as the Precious Metals Bull Run unfolds amidst a Banking Crisis, High Inflation and Rising Interest Rates
SILVER- Relative Strength says Buy!XAGUSD
Another Bullish Signal for Silver🥈
Attached: XAGUSD/ Nifty 50 Weekly Chart as of 31st March 2023
- This Relative Strength Chart indicates that the Outperformance of Silver over Equity (Nifty 50) has started 📈
-It is similar to the Signal on Gold🥇 that I had shared on New Year's Day and you can see how fabulously well that Gold Buy Signal played out for us ‼️
- Expect the same for Silver as I have been saying that Silver has to catch up with Gold
So if Not Already in Silver,
Get In As Soon As Possible or you will miss the Move 🚀!
Note:
In my previous post on Silver, I highlighted an Inverted Head & Shoulder Breakout BUY SIGNAL
Since that post, Silver is up 6.60% and counting....
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 :)
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 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.
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
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 17.520, resumption of uptrend is expected.
We make sure when the resistance at 22.417 breaks.
If the support at 17.520 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 22.245 on 11/15/2022, so more losses to support(s) 20.621, 19.939, 19.525 and minimum to Major Support (17.520) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 56.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
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Now, It's your turn!
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Trade well, ❤️
ForecastCity English Support Team ❤️
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 17.520, beginning of uptrend is expected.
We make sure when the resistance at 21.200 breaks.
If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 64.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
❤️ 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 ❤️
#GOLD $XAUUSD primed to shoot upGOLD and SILVER have been in a downtrend after a surge in Mar of this year which was a reaction to the Ukraine invasion. A lot of "GOLD is a safe haven " traders may have entered in post the invasion and have been stuck for over 6 months as the metal moved down over 21%. Of course the continuous downmove since then may have forced a lot of exits.
We can now see that GOLD is trying to break upwards of the downward sloping trendline. A divergence on the MACD can also be noted.
If GOLD can sustain above the trendline , then we look to catch a sharp upmove reversing the pent-up buying pressure.
Keep stops below recent lows and stay long above the 1650 levels. SILVER should shadow the upmove if this resolves upwards
DXY CONSOLIDATION PATTERNDollar index is consolidating in the big time frame We are still for the news to get the breakout or the breakdown the further movement in different currency pairs , commodities , equity will be directly depend on it and break on either side will give a start to new bearish cycle or the bullish cycle for dollar index.
As per my view we will be going higher towards 120-128 levels in short term .
Silver Trading Plan - 23/Sep/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