XAGUSD trade ideas
SILVER will there be further growth?As we can see, SILVER has been showing growth since March. 5 times he tried to break through the $ 28 resistance level, but to no avail, there were only false breakouts. Now the price has approached the resistance level again and is trying to test it. If the price breaks through the resistance level and consolidates, then growth is possible. If again there is a false breakout or the price bounces, then the price may even fall.
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XAGUSD - BULLISHDescription:
The counter XAGUSD is moving upwards in the support trend line from 06th May. The support trend line has been tested thrice at the prices 25.68, 27.18 and 27.55. The price is still maintaining above the support trend line and there is no indication for a breakout. The buying pressure of the market may pull the price even more upwards. The existing bullish trend is expected to continue for this condition. The upward movement of the MACD indicator curves gives additional support to the description.
The major levels for this counter are
R2 – 28.32
R1 – 28.10
PP – 27.74
S1 – 27.53
S2 – 27.16
Silver ready for new upmoveDaily closing above $28 will provide required momentum and once closes above $31, we might be in for new ATHs in Silver. Plan and trade accordingly.
Disclaimer: idea only for educational purpose. No recommendation to buy/sell.
XAGUSD - Silver - Hourly Analysis CMP 27.678 $ SHort below 27.XAGUSD - Silver - Hourly Analysis
CMP 27.678 $
SHort below 27.5$ - 1 hour Candle closing basis
or 27.8-27.7$
SL above 28.05 - (1 hour candle closing basis)
Targets 27.26- 27- 26.78- 26.5+
Target
💡SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
25.75 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 25.75 is broken.
Technical analysis:
A peak is formed in daily chart at 28.75 on 05/18/2021, so more losses to support(s) 26.60 and minimum to Major Support (25.75) 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 58.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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Silver DailyLooks like we have completed 5 Wave Advance and it is leading diagonal. Wait for Wave C trading opportunities. We can take decisions based on price actions .
XAGUSDeasy way to get a buy, just get the supply zone formed by a pin bar, we got the gold zone fib 50-61 + pinbar singal buy + ratio more than 1/2 +
Silver - Short-term DownSide till 26.65Head & Shoulders seen in 5 mins chart of 0.75 points in Silver, Short silver for a target of 26.65 Sl 27.48
XAGUSD SHORT WE CAN GO FOR SHORT IN SIDE THE PATTERN WITH SMALL SL.
AS PER DOW Theory we have lower low now and pullback so short possibel
XAGUSDTrading Scenario:
We Expect Silver to retest 25.75 region and take a rocket shift to 27.5 in a couple of weeks. If it breaks 25.00 region, lets wait for confirmations to short XAGUSD.
Fundamentally, As COVID - 19 cases are increasing we expect commodities to rise up. Let's see what happens
