Silver Micro trade setupIt is rising wage pattern a bearish continuation pattern. Most probablity is to break down side and continue bearish trend.
SILVER1! trade ideas
SI D1: buy by market on MO TP 22.50Silver is going to demonstrate more bullishness unlike Gold to set a long-run top prior the further drop till the end of Nov. Thus, this bullish trade might be considered as a hedge for the further strategic bearish positions. Note, that the end of this week is the final dates to set this local high.
SI1!8. 26. 22 Follow up on silver... Working its way towards the target. Homework: Review the first chart, Look at this chart.... draw the lines; Take notes on some of the major points.
Silver Beginning Minor Wave CSilver has completed minor wave B, bouncing off the 0.786 Fibonacci level on Monday, August 22. We should now be in minor wave C.
There are a few possible highly clustered targets for wave C.
21.560: the minimum target. This is where wave C would equal wave A.
21.635: the 0.382 Fibonacci level.
22.565: the minor wave 4 extreme.
22.755: the 0.5 Fibonacci level.
While wave C can go above the 22.755 level without breaking any Elliott rules, it will most likely terminate in the 21.560-22.755 range.
Follow up on oil and silver8.22.22 It's important to think like a buyer and the seller all the time. You need to be aware of support and resistance. This is follow up on oil from earlier today, and silver that was posted yesterday.
Not a silver lining.Silver is special as it is both an industrial and precious metal. So, let’s look at Silver from both points of view to identify what seems to be dimming the shine on this metal.
As a precious metal, we can compare silver with the dollar and yield as both affect the demand for precious metals. Dollar and silver are generally negatively correlated, with a stronger dollar leading to weaker silver. In the chart below, we see this relationship at play until the start of February 2022, when it started to weaken. It seems the effect of a rapidly strengthening dollar has not been reflected in the prices of silver and we expect this gap to close, resulting in lower silver prices.
The 10-year yield also provides us with a reference to understand where silver might trade at. A high yield environment is often considered headwind for precious metals as investors prefer holding yield-generating assets in such periods. In the chart below, we see can observe the roughly negative relationship between yields and silver, with periods of lower rates showing higher silver prices and vice versa.
With the Federal Reserve indicating that they are still not done with the rate hikes to combat inflation, silver might take a dent in upcoming rate hikes.
Secondly, we can look at business and consumer confidence to gauge the potential demand for silver as an industrial metal. Generally, higher business and consumer confidence indicate expansionary periods, which translate to higher demand for industrial metals. With the University of Michigan consumer confidence index at a low and United States Business Confidence Index turning lower, such negative outlook will slow demand for silver as a form of industrial metal, potentially adding resistance to prices.
On the technical front, silver is sitting right on the 19-dollar level, which has acted as a key support & resistance level over the past 10 years. An attempt to breach this level a few weeks ago was rejected and prices are now back to retest this support. On a shorter timeframe, we also see silver in a descending channel pattern indicating a downwards continuation pattern.
With the dollar strengthening, higher yields, and downbeat business and consumer confidence, the macro backdrop for silver does not look rosy. Overlaying that with the bearish technical price action, we think Silver is likely to struggle.
Entry at 18.960, stops at 20.160. Targets at 16.620.
The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
Disclaimer:
The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
remove fear Are you feeling paralyzed by the silver price action?
See how I removed noise by adding additional evidence.
#silver #gold #spx #fintwit #northstarbadcharts
Silver Weekly Futures - Commitment of Traders ReviewSilver's commitment of traders review.
Total non-reporting small speculator longs are in an area where bottoms can be formed.
Still, need to wait for the actual breakout on the silver chart.
Silver Trading The Corrective SequenceIn this update we review the recent price action in the Silver futures contract and identify the next high probability trading pattern and price objectives to target
Ready for a breakout?A great pattern is developing. If you want to be in at the low...now is the time to buy.!!!!!!
Silver is forming the bearish triangle. The silver chart is forming triangle pattern that have potential to go down. RSI is also indicating the reverse sign. Now I am waiting only lower time frame bearish pattern to enter this trade.
Silver 2020 (March Madness)Who else is noticing silver's fractal move playing out like the March 2020 turn around?
Who else remembers the melt-up move following that turn around?
#fintwit #silver
Silver Futures - potential setupsCOMEX:SI1!
👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate.
👉 2. Price goes BELOW the selected range. below. Short positions to activate.
⚠️ Important Notes:
1. Follow your risk management rules.
2. Timeframes: up to H4
Silver Finishing Minuette Wave 3Silver is currently in subminuette wave 5 of minuette wave 3 down. After finishing minute wave A, silver should experience a tiny rally during minute wave B.
Silver chart analysisThe price of silver retreated from yesterday's high of $20.83 to this morning's low of $20.35. We now have support there, and we could rise above the $20.50 level again. Then we would have a chance to visit the $20.75 level once again and try to move on to $21.00, the next higher target. For a bearish option, we need a negative consolidation and pullback of prices to the $20.25 level. Additional support at that point is in the MA200 moving average. The price break below takes us down to $20.00. After that, if the bearish pressure continues, the price of silver could fall even lower. Potential lower targets are $19.75 and $19.50 levels.
Silver Has Begun Minor Wave BSilver has finished minor wave A up and is starting minor wave B down. Minor wave B will most likely take the form of a zigzag.
✅SILVER RISKY SHORT🔥
✅After the retest of the of horizontal resistance
It makes sense to expect a bearish correction
As SILVER is overbought the market players
Will be taking profit from the level
Fueling a selling wave
SHORT🔥
✅Like and subscribe to never miss a new idea!✅
Silver: I Like to Move It, Move It!I like to move it, move it,
I like to move it, move it,
I like to move it, move it,
We like to move it !
You were bouncing along – admit it! Silver, at any rate, is shaking its booty to the beat, while continuing to move upwards. It should keep up the party mood and hop above the resistance at $20.84 to enter the upper turquoise zone between $20.94 and $22.42, where it should finish wave v in turquoise as well as wave 3 in green. After the subsequent countermovement in the course of wave 4 in green, silver should resume the overarching ascent.
However, there still is a 40% chance that silver could lose its rhythm and drop below the support at $18.88, which would then result in a detour below the next support at $18.01 and through the orange zone between $17.46 and $15.33.
Silver Entry Points For A 21.80 TestIn this update we review the recent price action in the Silver futures contract and identify the next high probability trade locations and price objectives to target
Silver M - Wave CHourly 1 2 3 4 5 wave complete
A B also seems done
Wave C in progress
Strong support area 58600-700
Buy at lows
Possible Tgts 60250-62800
WEEKLY 7th AUGUST SILVER PRICE ANALYSISSILVER is 27% down from its high of last year. we can see bullish marubozu candle at resistance of 54000 range. Silver has value both as a precious metal and as an industrial one. silver demand has been overwhelmingly tilted toward its industrial side, silver is used in various other industries apart from jewellery. As a result, there is a good demand for this metal in the market. You can make the best use of this situation and invest in silver for your future.
There is some tension in the geopolitical situation and this can lead to an economic slowdown in the future. Apart from that, many countries are in a financial crisis and they have too much debt that can lead to problems at a later stage. Considering all these things, you should always safeguard your investment in the market and invest some part of your funds in silver. This will help you to hedge your other investments and your money will be safe even if the stock market downfall
SILVERBEES......ICICISILVE are some of the etf where you can buy easily.
