XAGUSD_LMAX trade ideas
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
💡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 trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 and more heights 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:
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 lies at top of the Channel likely to move downSilver lies at top of the Channel likely to move down, trade with Discipline sell only when price breaks 27.170 and if price sustain below 27.170 likely to move towards 26.500 levels.
Long - Silver - $30 - (~1 Month)Silver bounced of the 200 DMA and broke a downward channel .
Target: $30
Entry: $25.26
SL: $25
Note- Strong Resistance at $30 & $26.43.
XAGUSD - MOVE FOR THE DAY EXPECTEDWE EXPECT IT TO RETRACE BACK to 25.75 AND expect to MOVE TILL 26.3
IF IT BREAKS BELOW 25.75 ZONE, wait for confirmations to SELL
Silver - Long - Short Term (~4 days)Possible break out in Silver towards the $26 level, can move further based on volumes over the next 2 days. Depreciation in dollar should add to the momentum however rising bond yields may cause rough waters.
Target 1 - ~$26
Targer 2 - $26.45
Entry: Once the resistance at ~26.53 is taken out with decent volumes, and then possibly retested.
XAGUSD - Silver - Falling wedge patternPrice forming falling wedge pattern and it should break up. Already one can sense the strong move from the bottom and this should continue to break up and move further.
silver Flag or Bounce Back ??we caputre 1:3 on silver earlier.
now again silver is on move on key level whats ur interpretation.
LEARN TO EARN.
Silver US/OZ Buy CMP 24.07 for Target - 24.2- 24.3- 24.5- 24.6Silver US/OZ Buy CMP 24.07
for Target - 24.2- 24.3- 24.5- 24.65 - 24.9+
SL below 23.7 - 15 min candle closing basis
SILVERWill it take support near 25$ ? Only time will tell. If it is taking support there then it will be sweet buy point for target of 27++
