SILVERMINICFD trade ideas
Short the SILVER(XAGUSD).Elliott wave analysis:-
Impulse wave formation has been formed.
1,3,5 wave are impulse and the 5the wave was an Ending Diagonal. .
if this wave has not broke above the 5th wave then we can go for short at CMP.
stoploss@22.24201
if pattern failed then we have to wait and watch the wave formation.
i am not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor. I share chart for education purpose only. I share my trade setup.
Bulls be carefulFriday's price action
a) brought the price precariously close to the descending triangle breakdown
b) Trendline recapture miserably failed and confirmed the breakdown
Both (and 2 other EW based factors) points towards price reaching green zone after break of blue zone.
The momentum oscillator is also no-where near the oversold zone and indicating some more downside possibility.
Lets see how this develops further.
Happy Trading !
Silver - A clear Break out
The Fibo levels marked on the chart show clearly that Silver has broken out over horizontal level. Its a multi year Break out. I gave the major levels in my previous idea upto $32. (link Provided) Ist major target is 24. Maintain a SL of 19.49. Stay invested. Next major three canldes to be watched in coming three days are as under:
10-12-23 12:53 PM
10-13-23 6:37 AM
10-14-23 12:20 AM
I am not a Registered Analyst with any of the National/ International Agencies. Please consult your financial advisor before making any decision.
TRIANGLE breakout in SILVER (XAGUSD)Elliott wave analysis:-
View 1:-
if it is a BULLISH triangle then it will break upside and the entire pattern next to w) wave is TRIANGLE X) Pattern.
View 2:-
If X wave was flat correction then a) wave was completed and b) wave was a BEARISH triangle and C wave has to break downside and the target will be same size of a) wave.
i am not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor. I share chart for education purpose only. I share my trade setup.
Silver - Live Market update
Hello friends,
Please vouch strength of idea that trend changed exactly at 1:27 a.m. marked by red vertical line in morning as was mentioned in my earlier discussion, now the timing of the candle of 7:10 p.m. is important. Please mark high and low of this candle and act accordingly.
Silver - update Live Market Analysis
The ongoing candle is very important for Silver, Mark high and low of this candle and act accordingly. Going further, time of various candles have been given which will have the effect on trend of this commodity. If the timings of a candle remains outside the working of the stock exchange, please ignore that candle; just draw a vertical line for analysis purpose.
Please refer to my earlier discussion of silver. Link provided
Future level in the long run:
22.479 23.076 24.29 26.81 29.47 32.24
Silver - Getting Bullish
Silver- Getting bullish. Watch the level marked by white horizontal line and red diamond. Next 1H Candle may turn it out of clutches.
I am not a registered analyst with any National/International agency. Please consult your financial advisor before making any decision.
Today' s Low 22.815 Sell Below and Levels
22.739.2 22.66 22,58 22.513
Buy above and Levels 22.833 22.852, 22.890, 22.966, 23.04, 23.118, 23.78, 23.84, 23.96 24.20, 24.45, 24.70, 24.45.
Silver - Live Market Analysis
Silver is purely long, if this candle is not broken downside. But would suggest to wait till tomorrow.
Don't be in haste. Risky players can buy here checking next candle, risk averse should wait till tomorrow.
Please refer to my morning session idea on silver and adhere to those levels.