XAGUSD trade ideas
#SILVER #XAGUSD may have completed its fall in wave CSilver seems to have completed its 5 wave fall and should settle at this level or slightly lower before it moves up from the current levels. We are near the end of wave 4 at a primary degree and should move to new highs if it gets support at these levels
Silver still looking weakSilver should retest its yesterday lows and may also create a new low. Trade with caution as market is oversold and there may be a sharp reversal.
XAGUSD - Silver is Ready To Boom !!! :)Currently it is incomplete converging triangle (abcde) and completed combined (wxy) correction. . .
Silver entering bear marketSilver has broken out of the triangle formation and continues to look weak. a close below 26.5 is necessary to reinforce the trend
SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 25.65, resumption of uptrend is expected.
We make sure when the resistance at 29.85 breaks.
If the support at 25.65 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
While the RSI support #2 at 52 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 28.85 on 09/01/2020, so more losses to support(s) 26.20 and minimum to Major Support (25.65) 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 53.
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XAGUSD also known as SilverLet the price come out of flag pattern for breakout. 238% levels in fibonacci are not available on Tradingview but silver is taking support from that level 25.6 USD. SL should be kept at 25.6 USD.
Views are for educational purpose only
Silver - XAGUSD, A walk through.Price retesting the previous resistance levels, if closes above the immediate high then it will definitely reaches the next resistance level 35.
Alternate path for Silver #XAGUSD #ZigzagToo many posts tracking the triangle breakout - This shows there is only a onesided view, the alternate path Silver can take is given in the red labeling - this could turn out as a A_B_C zigzag before it moves up catching the triangle watchers unaware. Be on the watchout for the alternate path for Silver. At this point traingle is under threat unless it moves up immediately
Blue labels - Triangle
Red labels - Zig Zag
Silver #XAGUSD #Elliotwave short term #15minchartLook to get in on the dip in C wave in the next couple of hours before the upward resolution out of the triangle resumes to the upside
look for the long term view in the previous tweet
Silver #XAGUSD should break out of the triangle to the upsideSilver #XAGUSD should break out of the triangle to the upside in the next day or two.
Risk level will be 26.82
A separate short term view will be published following this - watch out for it.
SILVER (XAGUSD) - 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.
T echnical 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 26.00 on 08/21/2020, so more gains to resistance(s) 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 60.
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Silver USD/OzAfter a bull run now pausing for direction. Sym. triangle Breakout/Breakdown expected. Trade as per the levels given in the chart.
SILVER COMEX TRENDSILVER COMEX is on the verge of Breakout of Range, Today if SILVER COMEX Sustains above 27.30$ we can see upward swing in Silver in the next few trading session. Keep a close Eye on SILVER COMEX for the Trading opportunity. 👍
Silver poised for Rally 2.0Silver looks to get needed support at trendline. And volume looks to be positive for heading to $30. Gold movement can help again.
MCX- Trade Idea to take Silver Micro. and keep adding at lower levels till $25 is protected.
