XAGUSD possile long by demand zoneDaily bullish order block formed on 21st March. 22.40-15 strong demand zone for long, stop loss may place below 22.15. Target: 24.80. this setup will take time may few days even weeks.
Silverlong
XAGUSD Spot SilverSilver had been on a downtrend for two weeks before hitting its pivot low on 5/18/23 and
reversing. The Hull suite indicator has changed from red to green while the zero lag MACD
indicator bounced on the zero line and is now uptrending. Importantly, on the way down
price dropped quickly through a low volume area of the volume profile marked out on the
the two hour chart. This area had the highest bearish momentum meaning the most negative
price action over the least time. If price can regain $ 24.25, the inverse could occur being
a burst of bullish momentum propelling the price through the low volume area described.
Contributing to this could be a squeeze if those who are short liquidate and buy to cover.
Finally, the predictive algo Echo indicator suggests a rise in price to begin the trading week
up to but bouncing down from that $24.25 target being the bottom of the volume void.
I will place a long trade with the target in mind. If price can break it, I expect an explosive
move perhaps equal and opposite to the 4% downward move earier this week. Also
contemplated are equity trades in SLV. AGQ and ZSL depending on the price progress underway.
Silver to 223After a strong bearish movement, we could see a bullish movement!
Entrance= 22.24
SL=23.33
TP=21.5
XAGUSD Trading Plan - 16/May/2023Hello Traders,
Hope you all are doing good!!
I expect XAGUSD to go Down after finishing the 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.
XAGUSD Spot Silver - Is it ready to reverse up?Spot Silver dropped this past week about 6.5 % from its high early in the week. On the
15-minute chart the drop occurred over three days. XAUUSD is now underneath the POC line
of the volume profile as well as the negative bands of the mean anchored VWAP. The Mass
Indicator and faster / slower MA ratio indicator are both near the zero line showing that
bearish momentum has subsided and a reversal may be underway. Overall, I expect a reversal
with XAGUSD seeking the mean. The first target is the POC line confluent with VWAP so
25.08 while the final target is 25.55 being the redline demarcating the top of the high volume
area. I expect this to be a 1-2 day trade with high potential reward especially if leveraged
on forex.
SILVER (XAG) - Bearish SETUPHi there,
For me , on daily chart this is looking very bearish, but i will not entry now with a short because we still need to wait for a break line ( red line ) and also, a Price action confirmation, afther that , if we close under the red line, i will short this .
But i think will be a nice trade with a good profit .
SILVER - Weekly AnalysisA breakout from the down channel in play is evident.
What im looking for is a bullish breakout to the horizontal double top point plotted. (circles)
Green curve encompasses the entire structure
A Silver Cup and Handle The chart speaks for itself.
With some luck we could break above the top of cup resistance line and find support on it between here and 2024/25. That is a good move, but id love to be sitting in profit then with the option of riding the longer trend.
Potential Double Top Forming on SI Daily ChartSilver touching major resistance area and potentially forming a double top if it can't break above 26.50.
I also noticed a double bottom that's playing out on the 15 minute chart that I missed while being away.
Could go either way, but I think fundamentals support bulls.
Bull Silver24.90 remains a strong 4 Hr support level. RSI touched my divergence trendline perfectly before price bounced right back up. Waiting for price to cool off a bit before entering long again.
Double Top Silver?Looks like a double-top on 4 hour SI chart.
Price broke below 50EMA
If price losses the upper trendline of the descending triangle expect price to push to bottom trendline of triangle at least.
Will it tap the upper trendline all the way down until the break up?
Silver Pulling BackNot perfect, but big shooting star on SI daily chart along with break below the 50EMA on the 4 hour chart makes me think Silver may pullback to major support from 24.00-24.60 before shooting back up. Could the star really be the 2nd top of a double-top? Time will tell. Holding steady for now.
2nd Chance Pullback - SI Bullish RSI DivergenceI'm seeing that 4 of the last 6 times that this pattern has played out over the past 4 years, at the first major pullback the RSI continues to put in a higher low.
Price then move higher.
DXY Weekly Head & ShouldersThis goes along with my ideas on Silver.
Weekly DXY Head & Shoulders helping to push up metal prices.
Silver Bullish RSI Divergence 4H ChartI'm seeing a bullish RSI divergence coupled with a descending triangle on the 4H silver chart. I see a similar setup 5 times in the past year and each time the price went up. Am I seeing this correctly?
Silver/USD AB=CD Bullish Reversal Pattern - 1hr time frameAB = CD Harmonic Pattern formation has been observed which indicates an increase in the Silver Price (USD).
You can buy at 25.150 price point. Place a Stop Loss at 24.760.
Take Profit 1 @ 1:1 risk/reward will be 25.509 and Take Profit 2 @ 1:2 risk/reward, will be 25.890.
SILVER BULLISH OUTLOOKSilver is gaining momentum, similar to the other precious metal, Gold. But their purposes are different: while Gold is used as protection against inflation from investors, silver has a lot more industrial uses, especially in the green energy sector. This makes the metal a lot more sought after.
Both MACD and RSI are confirming the bullish trend, and if it continues, targets of 27.5 and even 29.1 can be expected.
On the opposite scenario, as a pivot point, 23 might be considered, and if silver surpasses that level, further down movement to levels of 21.9 can be observed.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses
SILVER (XAGUSD) One More Bullish Wave Coming?! 🪙
After a strong bullish impulse, Silver was accumulating for some time within an ascending
triangle formation on 4H time frame.
Its neckline was broken during the Asian session.
We see its retest now.
It looks to me that the market may bounce one more time.
Next goal for buyers - 25.7
❤️Please, support my work with like, thank you!❤️
SLV ETF is screaming with a BUY signalSilver may outperform gold for the short term as SLV is screaming for attention. It just had a recent golden cross along with a by-signal measured by Aroon up. So don't miss out on this one at all! I'm also testing the same theory with other highly liquid ETFs as well for tomorrow's trading day.
Silver Rounding Bottom just gave us a strong buy signalRounding Bottom has formed on Silver and the price has just broken strongly out of the resistance (neckline).
The indicators are also showing good upside momentum.
7>21>200
RSI>50
Target 28.70
Silver (XAGUSD): Important Breakout & What is Next 🪙
Bulls keep pushing Silver for the last 3 weeks.
The market managed to break multiple key daily structures.
Last week, the price successfully violated 23.98 - 24.64 supply cluster.
The broken structure turned into a demand zone.
Because the market is currently quite overbought, I will expect the accumulation of buying volumes
within the underlined area and a consequent bullish continuation to 25.85 level.
❤️Please, support my work with like, thank you!❤️
Silver set to explode. According to my Elliott wave analysis, Silver is in the early stages of a third impulsive wave, which is part of a larger third impulsive wave. This is the most explosive wave, with significant price gains expected. The recent breakthrough of a crucial Fibonacci resistance level at $24.66 confirms this outlook. With this level breached, silver now has a clear path to reach $45 in the coming months, with a potential fifth impulse wave pushing it to around $83.
Brace for some serious excitement in the coming months!
SILVER - Good Opportunity Hi, this is my new update for Silver. Finally today we have broken one of the biggest trendline in the history of Silver. In the past 2 years we have been stuck under this trendline and after testing it for the 6th time we finally see a good breakout, but not everything is certain right now. Two months ago I told you guys that we are in a "bullish expanding triangle" and I expect we are going to see a breakout and now it is time to see if this breakout holds.
First we have to test the resistance between 25.80 - 26.50$ and at the same time we are testing the 70.2% Fibonacci retracement level. I expect after we have tested those levels we are going to backtest the trendline and the support level around 24.30$ and if these levels holds that indicates the we have a valid bullish expanding triangle and we are going much higher.
At the same time we are in an overbought area in RSI chart and if everything I explained above happens I think we are going to see the RSI test the bullish area of 40 levels and it is going to bounce from that area.
Also good to see that we are getting back bullish momentum on weekly and monthly timeframes.
