74500 is importantNeed daily close above 74500 to negate this downward slope.
Disc : it's not an investment advice to buy or sell
SIL1! trade ideas
Silver looks bullish#positional
Silver (CMP: 71740) if bounces from support trendline then long positions can be taken with previous swing low as sl. Keep this in your watchlist and trade as per that
going long only if breakout with big volumethere is 50 ma resistance even after breaking the main resistance , so you can either enter after 50ma breakout or book profit for once and re enter after it.
What's you perception ???Chart says everything. Silver has been taking supports over T1 and facing resistance against T2. Currently it is moving in an upward channel (T3 & T4) which may continue higher or crash till it gets another support over T1, depends upon the news and events. Long or short positions can be initiated as per the price action that will appear in upcoming days.
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SILVERMIC | Channel goes on and on - Lets try another 2000 ptsSILVERMIC | Channel goes on and on - Lets try another 2000 pts
CMP : 71900 (Can add another lot if we get dip near 71400)
SL : 71000
Target : 73900
1:2 risk reward setup
SILVERMIC | Again falling into the channel (Risky trade)SILVERMIC | Again falling into the channel (Risky trade)
CMP : 73200
SL : 73800
Target : 72500,72200
1:2 risk reward setup
ENDING DIAGIONAL .SILVER IN INFALATION The Ending Diagonal is a pattern the occurs
when the preceding move as Elliott puts it
has gone „to far too fast“.
This pattern is mostly found in the fifth wave,
at the end of an impulse. It can also happen
as a final Wave C in a ABC-Correction.
Rules:
• Wedge shape with contracting trendlines
• Wave 4 overlaps with Wave 1, but does not
go beyond the start of wave 2
• Wave 1 is the longest wave and wave 3
can’t be shorter than wave 5
• Structure is normally 3-3-3-3-3, each
waves subdivides into a ZigZag a-b-c or
w-x-y
It is also accompanied by divergences in RSI
or MACD indicator.
Ending Diagonal
❗ Watch out, often the fifth wave of the Ending Diagonal makes a fake breakout above the wedge
forming trendlines.
➔ Because Ending Diagonals only occur at the end of a move, the following trend change and new
direction of price action leads to great trade opportunities.
SILVERMIC | Taking good support at trendline- can see 2000+ ptsSILVERMIC | Taking good support at trendline- can see 2000+ pts
CMP : 71050
SL : 70000
Target : 72500, 73400
1:2 risk reward setup
Already we are holding a long call based on flag - just adding one more position to average
Silver mini June futures shortSilver mini June futures short
SELL at - 71840
SL- 72200
Target- 71535, 71080
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
Silver mini June futures shortSilver mini June futures short
SELL at - 71140
SL- 71535
Target- 70500, 70095, 69630
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
Silver Forming Symmetrical TriangleSilver breaking out of symmetrical triangle on 1D and 1W timeframe. Go long only after confirmed breakout. Follow Price Action & risk management.
Silver mini June futures shortSilver mini June futures short
SELL at - 72005
SL- 72500
Target- 71550, 71150
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
