QI1! trade ideas
Intraday trading strategy for MCX SilverThis is MCX Silvermini 15 minutes chart. I have used here moving average, Fibonacci, DMI, and RSI.
Fib Levels: T 71496 and B 65664
Silver will try to touch 0.382 ( 67892 ) from here. It will act as resistance. Moreover, there is a 50 MA. If silver breaks both, it will fly from there and touch 68580 levels. Intraday traders can play between it.
But if it takes a U-turn from 50 MA and breaks the 20 EMA, be ready for the following targets: 67060 - 66600 .
#SILVER #XAGUSD may have peaked in Wave X todaySilver shotup today and had a volatile few mins with a wide range. This may have just completed the X Wave of the upward corrective from the late Sep Lows. X waves are generally sharp reactions. The upmove since the Sep lows is best counted as an X wave. Note the labels on the chart - nothing impulsive, overlapping and time consuming upmove. There is no impulsive structure, this strengthens the bearish case. Look for Y wave down to complete in the shaded area if today's top holds.
SILVERA daily close above INR 67000 (US$ 25.75) would confirm a breakout. A monthly close above $27.25 (approx INR 73000) opens the passage for $33 (INR 86000)
Silver Follow Up & Future Predictions For 2020 & 2021 – Part IHere I have used Gann fan and Fibonacci on Silver sport to identify the current trend.
Fib Retracement:
Top: $29.90
Bottom: $11.64
If silver remains above the 78.6% level, the target will be $27 - $27.8 .
And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use the following levels as targets: $ 25 - $24 - $23 .
According to DMI, ADX is less than 25 but turning up. And +DI is signaling an upside rally. Technically, silver is a further advance.
For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil.
Monday, Dec 21, 2020:
12:00 - Gold Index
Wednesday, Dec 23, 2020:
3:00 - API Weekly Crude Oil Stock
21:00 - Crude Oil Inventories, EIA Refinery Crude Runs (WoW), Crude Oil Imports, and Cushing Crude Oil Inventories
21:30: Natural Gas Storage
HOLD SILVER ABOVE 68,000 AND GO BEARISH BELOW 67,300 AS PER FIBONACCI ANALYSIS, SILVER CAN GIVE GOOD MOMENTUM IF SUSTAIN ON 68,000 LEVEL,
HOLD IF SUSTAIN ON 68
BULL TGT 69,900
BEAR TGT65,700
GO SHORT IF BREAK BELOW 67,300
Feel Free To Ask For Any Technical/Fundamental Query
Comment Down Below
EDUCATIONAL PURPOSE ONLY.
SILVER near breakoutSymmetrical Triangle pattern after range bound move, may be breakout on upside is near...
#SILVER #XAGUSD Silver downmove labelled, Risk loweredSilver chart updated further to earlier view. In line with a downmove developing, risk lowered as shown on chart. XAGUSD contract SL now at 24.47.
SilverMIC May drop.Last time i gave 1h Timeframe. It broken the sl and went higher.This time i came up with 4h time frame.No indicator used.just support and resistance and trendline. Education purpose only.you can take trade if you think it is sell.good luck all.
