Silver- 26 is strong resistance nowAfter dropping around 18% from last week s top, Silver found support on Monday at 24.30 and started to rise.
The rise is clearly corrective in nature and it looks like a flag.
I expect gains to be very well capped around 26 resistance and we can expect a new wave of sales from here.
A good target for sellers can be 24.50
Silvershort
SILVER short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together.
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GWBFX
SILVER XAGUSD - To The Moon? Watch To See..Silver XAGUSD has been a very profitable trade for us within the month of December where we forecasted a big rally on the back of more stimulus, annual inflation and seasonality.
In terms of Silver we have to be extremely careful in our trading and "scale in" instead of going "all in", for next week we are aiming for a quick take profit level of 26.22 and we will either add more orders or protect our positions based on the reaction of the market off that level.
Silver can be extremely profitable for you, but you need an approach to trading that combines data + key levels to be consistently profitable. If you are finding yourself losing money trading, make sure to give us a like and follow to keep learning the best strategies for profitable trading.
SILVER downtrend setupprice direction: DOWNTREND
potential target price: 22.90
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
Silver could dropIn yesterday's comment I said that 24.40-24.50 is the line in the sand for Silver and as we can see from the chart, XagUsd stopped its ascent just under this level.
Similar to Gold we can have a correction also here and a drop under 24 should clarify things.
23.50 and 23.00 could be good targets for bears with 1:3 R:R in the case you target the later.
On the other hand, a break above 24.50 would call for a 25 zone test (trend line)
XAGUSD Silver Welcome back guys
Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not Financial Advice.
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Previous 3 Months silver in a channel path you can see that in the graph, if not break the resistance red line on the channel, you can take the sell shot
SILVER
STOP LOSS 26.00
SELL LIMIT 25.40
TAKE PROFIT1 24.30
TAKE PROFIT2 23.30
TAKE PROFIT3 23.30
Good Luck,
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Enjoy The Trading Guys
Silver- should be sold above 25Like its bigger brother, Gold, Silver took a punch last Monday and the price dropped more than 10% in just one day.
Once it hit the ascending trend line Silver started to recover and managed to close the week above 24.30-24.50 congestion.
XagUsd remains heavy though, and I expect a new leg down soon.
I will look to sell rallies above 25 zone and only a daily close above 26 would change my bearish outlook
Silver- under 20 till year's end?Like gold, silver fell aggressively Monday after the vaccine was announced.
The price stopped falling just under 24 and into the uptrend line support, recovered some of the losses after and now is consolidating.
The chart structure is very bearish as long as the price stays under 25 and I expect it to break under support.
Such a break could drastically accelerate losses and we can see Silver dropping under 20 figure.
A sell trade with a SL above 25 could have a GREAT R:R of at least 1:5
SILVER testing the 0.382 fib level 🦐SILVER after hitting and attempt to break the daily resistance area at 25.5000 created a sharp bearish leg.
The price hit the lower trendline of the minor ascending channel and started a retracement move.
Now the market hit the 0.382 fib level and IF the price will break and close below the support structure and consequently break the channel, we will set a nice short order according to Plancton strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.