XAGUSDG trade ideas
Silver UP move after completing 3 Waves CorrectionOn Weekly Basis:
Silver completed its correction from USD 12 to 29 in its Grand Wave. There is a support at 23.35 and 22.15 on weekly charts. Grand Correction Wave A, B and C is over in Silver which started in August 2021. B Wave got over in Feb'22 and C Wave got over in August,22. One can be cautiously optimistic and it provides a good choice to buy at 23 or current level with a target of 34 which becomes a strong buy from long term point of view. There is a golden cross over at 200 DMA, happened in December'22. It has come out of oversold position to neutral zone. RSI was deeply oversold in July'22 before showing the signs of bottoming out in October'22. Now it has broken the downward trendline and correcting sideways at 23.50 to 24.50 levels.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.
SILVER BUY trade SignalSILVER BUY trade Signal
SILVER has broken the Resistance trendline and closed above waiting to retrace the support area if the market retest the support area then it will be a good opportunity for a long with very good risk-reward
Always trade with Stop Loss
Silver Breakout the Major Resistance LVLSilver is currently in bullish mode & Major Resistance Breakout and now resistance lvl will be make it as currently support lvl.
it can be retest the current support support lvl and it will be a possible to touch the upper trend line near $24+
Use strigtly sl below the current support lvl.
SILVERSILVER TREND showing BEARISH, as of now after very long BULLISH trend, a Retracement can be expected.
Notice : Who is on LONG positional square off, re enter after Retracement.
SILVER possible bearishWave 5 seems to be completed can expect wave A downward can give about 6.3% , SL is necessary which can be kept 1.17% above.
Silver Trading Plan - 30/Nov/2022Hello Traders,
Hope you all are doing good!!
I expect SILVER to go Down after finishing this correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
Bullish on SilverAfter slight retracement, silver will make new high. My target is $25.
I am not a financial advisor, This analysis is only for educational purpose.
$XAGUSD Short 17.56$Silver Daily Tapped in Bearish Rising Wedge Possible Fall Til 17.56
Wait For The Conformation Breakout And Retest Also Head Snd Shoulder Expecting Let's See The Reaction
SILVER52-Week High 27.500
14 Day RSI at 80% 25.112
Pivot Point 3rd Level Resistance 24.219
23.890 3-10 Day MACD Oscillator Stalls
Pivot Point 2nd Level Resistance 23.719
23.642 61.8% Retracement from the 52 Week Low
Pivot Point 1st Resistance Point 23.379
High 23.220 High
1-Month High 23.220
13-Week High 23.220
Last 23.038s Last
14 Day RSI at 70% 22.958
22.879 Pivot Point
22.696 14-3 Day Raw Stochastic at 80%
Previous Close 22.637 Previous Close
$silver Short 1919!! $Silver Daily Candle Rejection To Trend-line Retest also Done Possible to Fall Till 19.19
Silver short term bearishsilver can come down in short term, but need to be cautious wait for conformation to make lower - low or to break the lower trend line to break and one can initiate in short trade.
Silver Showing Bearish SignsSilver was uptrending in previous weeks but it has faced rejection at crucial levels and currently there is breakdown of support in silver with RSI below 60 levels.
Silver is kind of swing instrument which means it will swing between resistance and supports and as a trader we should sell at resistance and buy at support.
Silver is trading below 5 EMA with RSI below 60 levels which shows it is corrective phase which may form A-B-C wave as per elliot wave principle.
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 17.520, resumption of uptrend is expected.
We make sure when the resistance at 22.417 breaks.
If the support at 17.520 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 22.245 on 11/15/2022, so more losses to support(s) 20.621, 19.939, 19.525 and minimum to Major Support (17.520) 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 56.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
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Silver to resume Bear Market rallyOn Weekly Basis:
Silver completed its 50% correction from USD 26 to 18. There are several resistance pivots at 22.15 on weekly charts. Wave A, B, C and D is over in Silver and Wave E should resume anytime now. Short sell is a good choice at 22 level with a target of 14 which becomes a strong buy from long term point of view. 200 DMA is also at 21.45 where price below the level would confirm the bear market rally. It has come out of oversold position to neutral zone.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.
Silver short 18.3200As we see Silver is not breakout that trend-line so I'm expecting silver will touch 18.3200 let's see till target HIT..
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 17.520, beginning of uptrend is expected.
We make sure when the resistance at 21.200 breaks.
If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) 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 64.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
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💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
