SVF1! trade ideas
Is #Silver headed for an upside breakoutThe chart shows an interpretation of the year and half long sideways move in SILVER. This has all the characteristics of a triangle that is headed for an upside break.
Wave E may be slightly short, so may have some more lower go, but that is not necessary. In any case a break of the upper trendline B-D should indicate a powerful upmove will begin.
This has been a long winding sideways move so the direction of breakout may be sustained move in that direction. Probability is now to the upside, but it will be wise to jump in only on confirmation
silver a fight between bulls and bears ... a fught between bulls and bears over the upper trendline of the downfall
my personal view since 4 years is that silver has to reach 1 00 000 rs per kilogram ...
the outcome for this fight might be anything as of now , but it is surely hitting the skies ....
Currently the downtrend is being tested and prices are sustaining around the trendline ...
I guess this month of June 2021 might be choppy and sideways in nature ....
will keep updated ..
Our premium traders are given trades no matter what the condition is .
Silver triangle pattern and on supportSilver chandi hi chandi karne wala hai.. triangle pattern pls wait for breakout. *Study purpose*
Silver will touch 69200 levels this week?Is it a good time to take a long position in silver?
According to the previous data, it has breaks 2021's support trendline. But the price has bounced off from the 200 moving average. And it's not crossing the 0.886 value of retracement. Hence, at the present silver trading range is between 73222 - 69076 levels.
This week silver may collapse up to 0.786 ( TP: 70660 - 70000 - 69200 ). And hurdle is 73222 level.
74500 is importantNeed daily close above 74500 to negate this downward slope.
Disc : it's not an investment advice to buy or sell
Silver looks bullish#positional
Silver (CMP: 71740) if bounces from support trendline then long positions can be taken with previous swing low as sl. Keep this in your watchlist and trade as per that
going long only if breakout with big volumethere is 50 ma resistance even after breaking the main resistance , so you can either enter after 50ma breakout or book profit for once and re enter after it.
What's you perception ???Chart says everything. Silver has been taking supports over T1 and facing resistance against T2. Currently it is moving in an upward channel (T3 & T4) which may continue higher or crash till it gets another support over T1, depends upon the news and events. Long or short positions can be initiated as per the price action that will appear in upcoming days.
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SILVERMIC | Channel goes on and on - Lets try another 2000 ptsSILVERMIC | Channel goes on and on - Lets try another 2000 pts
CMP : 71900 (Can add another lot if we get dip near 71400)
SL : 71000
Target : 73900
1:2 risk reward setup
SILVERMIC | Again falling into the channel (Risky trade)SILVERMIC | Again falling into the channel (Risky trade)
CMP : 73200
SL : 73800
Target : 72500,72200
1:2 risk reward setup
ENDING DIAGIONAL .SILVER IN INFALATION The Ending Diagonal is a pattern the occurs
when the preceding move as Elliott puts it
has gone „to far too fast“.
This pattern is mostly found in the fifth wave,
at the end of an impulse. It can also happen
as a final Wave C in a ABC-Correction.
Rules:
• Wedge shape with contracting trendlines
• Wave 4 overlaps with Wave 1, but does not
go beyond the start of wave 2
• Wave 1 is the longest wave and wave 3
can’t be shorter than wave 5
• Structure is normally 3-3-3-3-3, each
waves subdivides into a ZigZag a-b-c or
w-x-y
It is also accompanied by divergences in RSI
or MACD indicator.
Ending Diagonal
❗ Watch out, often the fifth wave of the Ending Diagonal makes a fake breakout above the wedge
forming trendlines.
➔ Because Ending Diagonals only occur at the end of a move, the following trend change and new
direction of price action leads to great trade opportunities.
SILVERMIC | Taking good support at trendline- can see 2000+ ptsSILVERMIC | Taking good support at trendline- can see 2000+ pts
CMP : 71050
SL : 70000
Target : 72500, 73400
1:2 risk reward setup
Already we are holding a long call based on flag - just adding one more position to average
