SILVER trade ideas
Elliot wave Analysis # Bearish SequenceOANDA:XAGUSD
Complex Correction in XAGUSD
240 Mins Bar (log scale)
flag pattern with reverse RSIqueries are welcomed.
feel free to message.
desclaimer : only for educational purpose.
SilverIf 25$ is sustain we can go up. In other case we will touch 22$ and then bounce back. Time will tell.
Silver eyes yearly bottom on breaking key support confluenceSilver finally follows gold while breaking short-term support confluence near $26.30, which in turn drags it towards late January lows. Although oversold RSI on four-hour (4H) chart probes the metal sellers, a sustained break of the key support, coupled with the bearish MACD suggests further downside of the commodity prices. As a result, the $25.50 and the $25.00 may offer intermediate halts during the quote’s south-run targeting the yearly low of $24.13.
If at all the bullion regains above the previous support near $26.30, it needs to clear a downward sloping trend line from Thursday to reject the bearish hopes. Also acting as upside filters are the $27.00 round-figure and February top surrounding $28.30. Overall, silver is up for grabs should the sellers welcome the latest support break.
XAGUSD ANALYSIS BY DHANUSHKUMAR MMonthly Resistance at 27.71480
Monthly Support at 23.52408
Day support at 26.35995
In Day time frame Trend line crossing its shown in chart.
Conclusion :
Market may sideways between 27.71480 - 26.35995. If market breaks the range we can expect good movement.
SILVER- ON THE VERGE OF BULLISH BREAKOUT- 4 HOUR CHARTSilver is poised to clear resistance near 27.80 and can head toward next swing level near 30$. A move below 24.8 will negate this pattern.
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 29.85 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 25.88 on 02/04/2021, so more gains to resistance(s) 27.40, 28.45 and maximum to Major Resistance (29.85) 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.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Is there a symmetry between the run up and down ?I see symmetry in up run and down.... so may be more down side is pending, say till 24.50 ?
Please note: I'm a entry level trader. Just trying to learn more about tech analysis.
💡Don't miss the great buy opportunity in SILVERMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 27.40 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 23.95 on 01/18/2021, so more gains maximum to Major Resistance (27.40) 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 62.
Trade Setup:
We opened 8 BUY trade(s) @ 24.93 based on 'Hammer' entry method at 2021.01.18.
Total Profit: 1584 point
Closed trade(s): 354 point Profit
Open trade(s): 1230 point Profit
Closed Profit:
TP1 @ 26.00 touched at 2021.01.21 with 107 point Profit.
TP2 @ 27.40 touched at 2021.01.29 with 247 point Profit.
107 + 247 = 354 point
Open Profit:
Profit for one trade is 26.98(current price) - 24.93(open price) = 205 point
6 trade(s) still open, therefore total profit for open trade(s) is 205 x 6 = 1230 point
Take Profits:
TP1 @ 26.00
TP2 @ 27.40
TP3 @ 28.45
TP4 @ 29.85
TP5 @ 31.25
TP6 @ 32.45
TP7 @ 33.45
TP8 Free
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
