Ready for a breakout Silver stuck in a triangle pattern. Either side breakout can give a good momentum
XAGUSDK trade ideas
Silver next resistance at 22Silver next resistance at 22
if it crosses the 22 mark, we can see a 3.9-8% upside move
EURUSD GBPUSD USDCAD GOLD SILVER Price action trading no indicators or technical analysis is being used.
EURUSD is at buyers pressure levels, above 1.0950 ideally stick to long
EURUSD buyers at 1.10 to 1.1010 and 1.1020, after 1.1030 to 1.1050
EUURSD sellers are no ideal at this levels, but will depend on tomorrow´s opening if we short below 1.0950 or not.
GBPUSD only buyers above 1.2380 and 1.24. Ideally stick to buyers at this levels. Sellers will have to wait for confirmations below 1.2350 levels to 1.2330 and 1.2320
USDCAD is very mixed. Sellers below 1.34. Scalping below 1.3350 to 1.3333. Then below 1.3330 to 1.3320. Then we wait.
XAUSD XAUUSD ideally waiting sellers, but not to short yet.
TREND QUALIFICATION WITH EXAMPLE OF SILVER
The building boxes give the fair idea of strength of trend. After a price correction, there has been a time correction. The time correction lasted from two to four days. Price retraced till the bottom of box giving opportunity to add or what they term as pyramiding.
Everytime market retraced my heart sank with pervading thoughts that I should have booked profits at the top. However this time my patience and perseverance paid and with heavy heart I held onto the Jun series silvermic futures. The factors for convincing myself were that never was previous box never violated and though at times such candles were momentum candles and that too with volumes. Even on four hour chart, I have found that volume is a big cheater. (Will Post on the subject separately with more research).
Surprising factor was that both approach & BO candles were momentum candles confirming the strength of trend less the last one. In the move to the last box the approach candle was missing and BO candle was good momentum candle.
Pitchfork Analysis clearly showed that price had reached the top edge of the pitchfork.
Confluence of factors for booking profits. Top edge of pitch fork, lack of apch candle(This aspect requires more study), large candles showing exhaustion, monthly trendline resistance. Hence booked profits capturing nearly ten thousand points(Though missed the top with some 500 points more, it is not always possible to catch the top & bottom but one should be able to capture major move and not regret few points here and there).
Studying trend qualification is important aspect both for holding and pyramiding and profit booking. How to identify whether it is a major or minor trend will post my study separately.
More than looking at the profits one was overtly satisfied that I had taken a “one good trade”(There is good book with same name by Mike Bellafiore of SMB Capital. It’s a good reading). Money is the consequence for one who adheres to the process, I think that’s what Lord Krishna said that don’t worry about fruits just keep doing your duty. If one adhere to ones setup (Process) and having implicit faith and conviction in oneself GOD rewards you with whatever you desire. What’s important is the process and not the fruits of desire. And of course the humility to be a willing seeker to learn from markets and others.
Views Welcome
Regards
SIlver Multiyear Breakout, Long tradeSilver broke out of multi year long Broadening channel, possible targets are 30$ and 50$ with small SL
silverpattern breakout confirm on daily basis now buy here target 31 silver comex new ath cup and handle also confirm this
SILVER- Inverted Head and Shoulders Breakout BUY!Attached: XAGUSD Daily Chart as of 17th March 2023
Price closed up 4.20% on Friday with a Bullish Marubozu Candle
At the same time also triggering a Bullish Inverted Head & Shoulder Pattern Breakout
Action Plan as follows:
Buy triggered with Friday's Closing✅
Stop Loss⚠️ below 21.25
Upside Target🎯= 25 + (which is also the measured move of the IHNS Pattern)
Silver has to catch up📈 with Gold as the Precious Metals Bull Run unfolds amidst a Banking Crisis, High Inflation and Rising Interest Rates
gold silevr spot or mcx breifly analysis blw yestrday gold made 2024$ now if hold abv 2010$ interday base soon tgt 2040$ in mcx 60700 if hold abv thna expect tgt 61400-500+++ if any dwn side than buy on dipsss with support sl---------- silver eys on 25.15 if stya abv thna nxt up side tgt 25.50 in 75200 if stya abv thna buy on dipss with sl 74810 tgt 75800--76600++++++++++ where come dwn or support 24.50 if hold abv m,kt bull zone readyyyy
SILVER- Relative Strength says Buy!XAGUSD
Another Bullish Signal for Silver🥈
Attached: XAGUSD/ Nifty 50 Weekly Chart as of 31st March 2023
- This Relative Strength Chart indicates that the Outperformance of Silver over Equity (Nifty 50) has started 📈
-It is similar to the Signal on Gold🥇 that I had shared on New Year's Day and you can see how fabulously well that Gold Buy Signal played out for us ‼️
- Expect the same for Silver as I have been saying that Silver has to catch up with Gold
So if Not Already in Silver,
Get In As Soon As Possible or you will miss the Move 🚀!
Note:
In my previous post on Silver, I highlighted an Inverted Head & Shoulder Breakout BUY SIGNAL
Since that post, Silver is up 6.60% and counting....
Silver on weekly resistance Silver on weekly resistance comex chart , looks for retrace on forthcoming weeks
silver entering resistance areasit is entering zone of resistance where it can feel heat and spend some time before breakout !
XAGUSDXAGUSD HEAD and Shoulder pattern observed . Expecting breakout from the current level and test the resistance level at 24 and 26. Need some news or event to go higher with good volume till we don't receive the news or any event occur till the time we are gonna consolidate at the current level .
Follow for more :)
Silver possible Elliot wave counts (Now down and then Up)Silver is now ready to dip down and to unfold wave 5 of (C)
and as per equality, Target of (C) equal to (A) is pegged at 19.963 and 1.618 is pegged at $ 18.350,
which can be stop loss for fresh long positions to be made below $ 20.
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
silver hold 21.70 blw soon 19.70 expect any rise sell sl 22.65 silver hold 21.70 blw soon 19.70 expect any rise sell sl 22.65 yes sl cls base as per trend analysis until close abv 22.65 no upward move in weekly charts rsi or candlestick formation bear favor
Head and Shoulders top in SilverSilver (XAGUSD) has formed a head and shoulders type rounding top on the 4h time frame. The price is still at the supply line. A breakdown below this line would be bearish for the commodity with measured move target of 21.75.
Price action at 23.15 to 23.50 zone is critical and would decide the next course of action.
silver 1 hr time frame - RSI divergence - Bullish above 22.40TVC:SILVER
silver 1 hr time frame - RSI divergence - Bullish above 22.40
BIG UPSIDE RALLY CAN POSSIBLE IN SILVER UPTO $29 - $33 IN MARCHAs per Elliott Wave Analysis , Big upside rally can possible in SILVER . On daily timeframe, waves 1,2,3 & 4 are completed. Wave 2 retraced more than 61.8% of wave 1 & shows Irregular Correction. Wave 4 retraced 38.2% of Wave 3 & shows Complex Correction ( Triple Zigzag Correction). Wave 3 is extended wave. Now, regular targets of 5th wave shall be $25.16, $25.95 & $27 . But, 5th wave having potential to make overall structure of "Double Extension Impulse Pattern ". If 5th wave makes overall structure of "Double Extension Impulse pattern" then the targets shall be very high upto $29.47 or $33 & these targets should come till March month end . This might sounds irrational at this time but it can happen according to Elliott Wave Analysis .
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
