QI1! trade ideas
Silver Price action and RSI study Silver Making multiple supportive nodes -> 1) Making it weak 2) Might take support to ( thus making it a tradable area )
Learning Pointers
>> Pattern here is Descending triangle
>> Time frame here is Weekly
>> Candle position -> Mother bar : Inside bars on multiple weeks
>> Rsi telling about Divergence of price and relative strength ( Rsi making higher lows, meaning it is bullish )
>> Price making same lows
>> Price taking rest at 150dema, can combine itself with 200dema too in near future on W charts
SilverLooks silver showing good opportunity for long.
Marked important levels, please understand the price levels and take your own action.
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Disclaimer: None of the trading calls given by meshould be construed as an offer to buy or sell any financial instruments, nor advice to do so. All information shared by me is for learning purposes only and has no financial liability whatsoever to any user on account of the use of information provided above.
Silver : A Very Bullish viewSilver is trading between a range 5800 - 75000. Now it is heading upward to 75000. This time it will try to break this resistance and move higher to new uncharted territory to be in 6 figures.
so flow with the trend closing below 60000 will turn the trend neutral to bearish and below 58000 a very negative view for all long positions.
This is for information only. Check your risk profile with your financial advisor before taking any trade position.
SILVER MCXSILVER MCX in the near term 70500 - 70600 are the resistance zone for silver mcx, it has possibly completed wave ii in three wave decline, and now possibly wave iii is unfolding. If our wave counts are going correct then above resistance zone silver can show 79000 plus, where wave iii would be equal to wave i.
Currently price is sustaining above RK's stop line and also above RK's cloud along with buy signal in RK's Magic on daily chart, which is a good positive sign itself, if we see price is also above 20DMA and 20WMA, macd is also positive in both daily and weekly time frames, RSI on weekly is uptick, stochastic on daily is supporting same bias.
On the way down immediate supports are pegged at 67050 as a RK's stop line, and major support at 65298 to watch out for upcoming sessions.
Overall wave structure on weekly chart
macd positive in weekly and also above zero line
macd positive crossed in daily chart
RK's indicator also suggesting to go long
Price above 20WMA above mid bollinger in Weekly chart
Price above 20DMA above mid bollinger in daily chart
rsi in weekly uptick
stochastic in daily going positively uptick
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.
Short Silver target 66200Short Silver, Target 66200
Short Silver, Target 66200
Short Silver, Target 66200
Short Silver, Target 66200
Short Silver, Target 66200
Short Silver, Target 66200
Short Silver, Target 66200
Short Silver, Target 66200
Short Silver, Target 66200
My personal view, your trade your responsibility