SILVER trade ideas
SILVER Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 29.85, beginning of downtrend is expected.
We make sure when the support at 19.65 breaks.
If the resistance at 29.85 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
While the RSI support #2 at 45 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 23.39 on 08/11/2020, so more gains to resistance(s) 27.00, 28.35 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 59.
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Silver ChartSilver breaking out on weekly and monthly charts after 5+ years of consolidation. Retest can be good entry point.. Don't book your profits just trail you SL. Continue to keep adding position.. Target open. Break of SL 21 week ema
XAGUSD Intraday & Weekly viewSilver can bounce back intraday towards $ 29 then if sustains around 29 $ 1 hr then expect fall again towards & bigger buying again coming near $ 26 for testing or breaking $ 30 always trade with strict sl
SILVER Weekly Technical Analysis UpdateMidterm forecast:
18.95 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 18.95 is broken.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 25.10, 26.20, 27.00 and more heights 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 77.
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XAGUSD has met the end in the wave structure. : Now go ShortXAGUSD has met the end in the wave structure. : Now go Short
confirmation :
1) Reach of 1.618 Times of the wave 1
2) Awesome Ossilator has shown divergance between 3rd wave and 5th wave structure
3) Cut of Resistance trendline.
XAGUSD has met the end in the wave structure. : Now go ShortXAGUSD has met the end in the wave structure. : Now go Short
confirmation :1) Reach of 1.618 Times of the wave 1
2) Awesome Ossilator has shown divergance between 3rd wave and 5th wave structure
3) Cut of Resistance trendline.
SILVER Technical Analysis UpdateMidterm forecast:
. 18.95 is a major support, while this level is not broken, the Midterm wave will be uptrend.
. We will close our open trades, if the Midterm level 18.95 is broken.
Technical analysis:
. While the RSI uptrend #1 is not broken, bullish wave in price would continue.
. A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 22.15, 23.05, 25.10 and more heights 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 83.
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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
