Trade ideas
SILVER - LONGThe counter XAGUSD started travelling in an ascending channel from 10th July. The price movement is very aggressive for the past few days. Today the counter has made an entry in the bottom line of the channel at the price 19.91. It's the right time to go for long.
Place your limits between S1 and R1.
SILVER Weekly Technical Analysis UpdateMidterm forecast:
. While the price is above the support 16.50, resumption of uptrend is expected.
. We make sure when the resistance at 18.95 breaks.
. If the support at 16.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
. We will close our open trades, if the Midterm level 16.50 is broken.
Technical analysis:
. While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
. A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains maximum to Major Resistance (18.95) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index ( RSI ) is 67.
XAGUSD also known as Silver.Long only if crosses trendline resistance.
Views are for educaitonal purpose only
Bullish flag pattern! Silver now approaching major resistance!Silver has decisively broken above the bullish flag pattern levels as highlighted on the chart and is now approaching major hurdle at $18.9. A break of this resistance, could push silver higher to its next resistance placed at $21. To be keenly watched!
XAGUSD:Inverted head and ShoulderXAGUSD has witnessed a breakout from the Inverted Head and Shoulder pattern, Buy Opportunity
A Second Chance to Buy in XAGUSD …New trading suggestion:
* The price is in a range bound and we forecast the uptrend would resume.
* There is still a possibility of temporary retracement to suggested support line (16.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
* If you missed our first HUNT, you have a second chance to buy above the suggested support line (16.50).
Midterm forecast:
. While the price is above the support 16.50, resumption of uptrend is expected.
. We make sure when the resistance at 18.35 breaks.
. If the support at 16.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
. We will close our open trades, if the Midterm level 16.50 is broken.
Technical analysis:
. The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
. While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 18.35 on 06/01/2020, so more losses to support(s) 17.50, 16.50 and minimum to Major Support (16.50) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index ( RSI ) is 58.
Silver - BuySilver has formed symmetrical triangle pattern, If it break upside with strong volume then it has tendency to break the long term resistance zone, strong up move is expected.
A second Chance to Buy in XAGUSD...New trading suggestion:
* The price is in a range bound and we forecast the uptrend would resume.
* There is still a possibility of temporary retracement to suggested support line (15.85). if so, traders can set orders based on Price Action and expect to reach short-term targets.
* If you missed our first HUNT, you have a second chance to buy above the suggested support line (15.85).
Midterm forecast:
. While the price is above the support 15.85, resumption of uptrend is expected.
. We make sure when the resistance at 18.35 breaks.
. If the support at 15.85 is broken, the short-term forecast -resumption of uptrend- will be invalid.
. We will close our open trades, if the Midterm level 15.85 is broken.
Technical analysis:
. The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
. While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
. A peak is formed in daily chart at 18.35 on 06/01/2020, so more losses to support(s) 17.50, 16.50 and minimum to Major Support (15.85) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index (RSI) is 57.
XAGUSD, Silver vs Dollar Weekly analysis , May 25-29Silver price action gives a bearish idea , it may go down to touch 15.8.. from there it may start the new month price action..
$Silver started its race.silver started its aggressive mode after several years . i hope it will continue its uptrend .
Silver - Breakout - Symmetrical TriangleSilver has given a clean breakout from symmetrical triangle pattern on 15 mins time frame.
Initiate long.
Target: 15.840
Stoploss: 15.440
Silver elliot wavesCurrently silver is trading on 5th wave of elliot impulsive,in which it is in 2md subwave which is a correction wave. Buy at 0.5 or 0.618 ratio of subWave 1 will be more beneficial.
Silver - Symmetrical Triangle Pattern - 4 hourHope it break it soon and tend to move upside. Wait for the breakout and confirmation candle.
