Elliott wave view: SILVER Short #Silver may be completing wave (iv) as a shallow correction at 24.02 and beginning to decline in wave (v) The outlook is #bearish while the recent peak holds."
SILVER trade ideas
Silver remains vulnerable to further downside despite reboundSilver prints corrective pullback around three-week low, bouncing off 78.6% Fibonacci retracement (Fibo.) of December 15 to January 20 upside. It’s worth noting, however, that the MACD remains bearish and the RSI is off the oversold territory while silver prices keep a downside break of a seven-week-old ascending trend line. As a result, XAGUSD bears remain hopeful to revisit the $22.00 support. Following that, lows marked in December and September of 2020 around $21.40 become crucial to watch.
On the flip side, silver’s recovery moves beyond the previous support line, around $22.65, will be challenged by the 200-SMA level of $22.95. Also acting as a nearby upside hurdle is the $23.00 round figure, a break of which will direct buyers towards a fortnight-old resistance line, around $23.45. Should silver prices remain firmer past $23.45, the 50-SMA level near $23.60 as a last line of defense for bears, following that the metal’s run-up towards the $24.00 round-figure and January’s peak of $24.68 should return to the charts.
Silver Intermediate CountI see C is not yet complete, if this is true, projection for D is not required as target will reach in C itself.
Silver - Posibility for current expiryif SL is broken , count is wrong. C take minimum time to achieve target, then higher high is possible.
Silver Lower Level count - Trade setup with SLThis is Internal structure of higher timeframe wave C given over my prev related idea. if SL is hit before Jan month end, Lower low is possible. Count restructure required.
Bullish🟢 #RSIStairs approaching 55
🟢 BreakOut above 45 day high
🟢 BreakOut above ST (10,2)
🟢 #PVBreakOut in 2 day scale
🟠 SL = 22.77 TGT: 24.7/25.3
Silver Weekly TFkey points to Add Silver in our Portfolio :
- Major DMA crossover on Weekly Timeframe
- Flag and Pole pattern on Weekly and Daily TF
- Major consolidation and breakout is expected to come in couple of weeks, Early Birds will be Benefitted.
- Multi year Breakout is seen on charts.
- Positive Divergence on RSI Indicators and couple of Indicators were Turned positive on Charts.
💡Don't miss the great buy opportunity in SILVER (XAGUSD)
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (23.56).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAGUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 79
Take Profits:
TP1= @ 24.21
TP2= @ 24.52
TP3= @ 24.85
TP4= @ 25.17
TP5= @ 25.58
TP6= @ 26.01
SL= Break below S2
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XAGUSD - SILVER BULLETSilver is in the news and remains in the know. The upmove yesterday confirms the strong interest in this space and thus continue to favour the upside. As part of the wave we have the truncated wave 5 and the beginning of next impulse to the upside. Within this impulse we completed wave two and yesterdays break start of wave three should try 25 plus area. Suggest longs with conservative stops 22.70 aggressive 22.40 for move to 25.30 good risk reward. Stay Long Silver is new Gold.
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.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
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Silver: No GoldenAfter the H&S of last year, Silver has been bearish. It has yet to touch the target price of $19, which looks like a certainty now.
Short if this level breaks Short if level breaks till 19.59
Also have a look on shooting USDINR it will make more red in gold and silver.
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 $28
3.chances to form double bottom formation
this is learning purpose only kindly do your own research also
#XAGUSD #LONG
Silver readying itself for the UpmoveSilver readying itself for the Upmove after hitting Double Bottom on Price and RSI
Disclaimer: View for Education purpose only, not to be taken as trading advice.
Upcoming Trade set upOne can Look for position themself after daily reversal Look for 3 Months contract as Positional trade
it will be Quick move
Silver - Possible countsCount restructured due to more price and time taken by last move in my previous linked idea. All details are given over the chart. Only for study purpose. Cant be traded without price confirmation.
Silver - Breakout Inverted Head and Shoulders leads to longterm breakout which will get silver moving towards all-time high. Above 30$ can see 35-39 and 48$
Silver will close High Today or tomorrow?Silver may delay its move . Structure confidence is high. Lot of Long Opportunity if Silver close high today or tomorrow. Otherwise probability open for new low again during this week.
No SL -> No Trade.
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.
silver short term long ideaKeep your position small ... !
here is a long side view for very short term approx 2 days
target 1 and then a bit of reverse side correction and consolidation for wave 4 and then target 2
keep your stoploss tight .
my best wishes
