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Trendline Breakdown in 1 Hour SIlverM Chart MCX:SILVERM1! Observartion: trendline Breakdown What is Trend line? a trend line is a graphical representation of the general direction of price movement in a financial market. Here are some key points about trend lines in trading: Identifying Trends: Trendlines are drawn on price charts to connect significant lows in an uptrend or highs in a downtrend. An uptrend is characterized by higher highs and higher lows, while a downtrend consists of lower highs and lower lows. Support and Resistance: Trendlines can act as levels of support in an uptrend and resistance in a downtrend. If the price approaches an uptrend line, it may find support and bounce higher. Conversely, in a downtrend, the price may encounter resistance near the trendline. Validation: The effectiveness of a trendline is enhanced when it is validated by multiple touches. The more times the price respects and reacts to the trendline, the more reliable it is considered by traders. Breakouts and Breakdowns: Traders often pay attention to trendline breakouts and breakdowns. A breakout above a downtrend line or below an uptrend line may signal a potential reversal or a continuation of the existing trend. Trendline Slope: The slope of a trendline provides information about the strength of the trend. Steeper trendlines may indicate a stronger and more sustainable trend, while shallow slopes might suggest a weaker trend. Timeframes: Trendlines can be drawn on different timeframes, from short-term intraday charts to longer-term daily or weekly charts. The significance of a trendline may vary depending on the timeframe. It's important to note that while trendlines are a useful tool in technical analysis, they are not foolproof, and traders often use them in conjunction with other indicators and analysis methods to make well-informed trading decisions. Additionally, market conditions can change, and trends may reverse, so it's crucial to consider multiple factors before relying solely on trendlines for trading decisions.
MCX:SILVERM1!Short
by FALGUN_ARMY
MCX SILVER FUTURE January ContractFrom 52000 to 72717 it's follow a trendline . It respect 52 EMA very well. Also we can see a bullish engulfing candle was created in weekly chart . It's a good sign for bull run. This year is the right time to invest in SILVER. After breaking 78322 bull run start. Also global market perform very well . Resistance 1: 72317 Resistance 2: 74136 Support 1: 67767 Support 2: 60305 (it's a strong support, for now price will come at this area if there will be no big issue like covid )
MCX:SILVER1!Long
by KaustavHazra
2
#SILVER update || Dec 19📊 Time Frame : 4 hour Strategy : SHORT The current price is undergoing a test of a robust support area, suggesting a possible rebound and a retest of local resistance before a potential decline. There's an anticipation for silver to reach the 73000 zone in the coming days, contingent upon finding support within the range of 72500-72860. However, a breach of this support could indicate a potential bearish trend, implying the possibility of further downside.
MCX:SILVER1!Short
by Shalvisharma5
Silver Future MCXHi all again this analysis is based on elliott wave and neo wave analysis. Market has made 3 wave and corrected as flat structure(3-3-5) and then made X larger degree now currently market making expanding limiting triangle this will be the last corrective structure which will end as 4th wave and than finaly will rally for 5th wave.. Now major concern is this if this is 2nd wave than we will see sharp rally and which exceed and can cross more than 161.8 of wave 1 to wav2 fib extension. Buy side:-above 77956 Target 1- 84948 Target 2- 110546 last target 3- 133739 Note:- Market not completed E leg move yet, once B-D trendline broken it will confirm as 4th wave/2 wave and then it will rally for 3rd/5th wave.
MCX:SILVER1!
by Sanjay_1206
Short trade as per elliott wave and NeowaveHi All this analysis is on elliott wave and Neowave. At very higher time frame market is making Limiting expanding triangle( expanding triangle consist of 5 sub waves which are 3-3-3-3-3(A-B-C-D-E) we are in now E structure as E structure is not yet completed it need to break B and D trendline to confirm the expanding triangle, Now market is in the direction of E wave to confirm expanding triangle. this trade is basically on the basis of E wave as E wave itself contain multiple Zig Zag structures( 5-3-5) and than form X as supportive wave this will lead to form double ziz zag to complete E wave example- ABC-X-ABC(5-3-5-X-5-3-5) . Trade setup:= Sell below-74286 Target-72606 Stop loss:-74814 This analysis is only for educational purposes, i am not a financial advisor please get in touch with your advisor to take any buy/sell trade in any liquidate market.
MCX:SILVER1!Short
by Sanjay_1206
Silver Futures Intraday Prediction Levels for 14 Dec 2023The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price . They are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone/Line or after break down and close below the Support zone/Line. These levels act as support and resistance. You have to trade according to level breakout or breakdown. If You are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
MCX:SILVER1!
by suraranjanganguli
Silver Futures Intraday Prediction Levels for 7 Dec 2023Silver Futures Intraday Prediction Levels for 7 Dec 2023 The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price . They are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone/Line or after break down and close below the Support zone/Line. These levels act as support and resistance. You have to trade according to level breakout or breakdown. If You are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
MCX:SILVER1!
by suraranjanganguli