SILVER.F trade ideas
SILVER (XAGUSD) | Best point for sale🔥Hello traders, Silver in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
The wave count performed for the silver weekly time creates several movement scenarios, but in all of these scenarios an upward movement the size of wave (1) is confirmed in the current analysis.
In the current analysis, wave 1 is composed of wave probably 5 at higher times, and we are inside wave 2.
Wave 2 is inside wave a and wave a forms its four waves in the form of five waves in the form of a triangle, and wave 5 is placed around the Fibonacci 0.38 or the lower side of the triangle.
In the current state of wave 5, a microwave is completed, and in the next wave and in the next wave, half of the previous wave is corrected in the first motion of this wave; The completion of this wave can be done with the same correction or it can be completed in the form of two other waves that are formed in the form of sideways in the same range and then the next descent to the lower side of the triangle occurs.
But in the next case, the descent will be created without any other side movement.
Finally, it should be said:
If the fibo is broken or the upper side of the triangle, which is more like a channel, is disappointed with the continuation of the downward movement and the wave count is somewhat different.
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perfect cypher in silver $22 to $28confirmations of buy
1. now price accumulate weekly demand zone
2. perfect hormonic pattern formation complete next move reaching target only, the target is $28
3.chances to form double bottom formation
this is learning purpose only kindly do your own research also
#XAGUSD #LONG
Silver Mid Term Move- AnalysisIdea(Not Trade call) will go invalid if SL is broken.
Actual directional move will commence only after 26th or 29th. Confidence level is Medium as not big confirmation yet for UP move but only minor level.
This is only analysis or Idea. Not a trade recommendation. Please do your own analysis before you enter.
Technical Analysis: Silver stays en route $23.00Although oversold RSI joined 50% Fibonacci retracement (Fibo.) of September-November upside to challenge the silver bears during the early week, a sustained trading below the 200-SMA and a two-month-old support line hints at the commodity’s weakness. The failure to cross the previous support convergence, now resistance around $24.00, joins bearish MACD signals to direct the bright metal towards a seven-week-old horizontal area surrounding $23.00. However, any further downside will make the quote vulnerable to mark a plunge towards 78.6% Fibo. level near $22.20.
On the contrary, a clear run-up beyond the support-turned-resistance near $24.00 should fuel the bids targeting a confluence of October 25-26 swing high and November 19 swing low close to $24.60. During the silver bull’s dominance past $24.60, the $25.00 threshold may act as an intermediate halt before challenging the monthly peak, also the highest since August, surrounding $25.40. To sum up, silver buyers have a long way to retake controls.
SILVER VIEW (PATTERN OBSERVED )Silver formed inverted head and shoulders pattern . if we break above 25$ then we will be heading for $28 in short term . if we break below $24 then we will be facing heavy selloff to 20$ in short term .position size should be taken care off .
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