SILVER1! trade ideas
Silver: Long Road Ahead! 🛣️🛣️🛣️For the beginning weekend, we would like to share our long-term outlook for the silver market. Here, we expect the price to fall all the way down between $18.62 - $13.70. The first major hurdle will be to leave the triangle at $25, as there is a 40% that the curve turns around there and starts the alternative breakout scenario which would bring the price up above $30.35.
Have a pleasant weekend!
Silver, are we getting ready to moon?I noticed a possible pattern in Silver's historical chart. My third yellow line at this point is just a guesstimate. GLTA!
Silver's Elliott Wave Suggests A Triangle is UnfoldingSilver's current Elliott wave pattern appears to be a triangle. Triangle's unfold in 5 waves and silver's triangle is near the end of the 5th wave. Prices may dip to $24.75 where a couple wave relationships exist. Silver does not have to dip and this would not be a tradeable move lower.
Parallel waves in the triangle tend to have 61.8% or 78.6% distance relationships. Wave C = .786 x Wave A. Also, Wave D = .618 x wave B.
Based on the general look of the structure and some geometry within the structure forming, it does appear we may be on the finishing stages of a triangle pattern.
If this triangle is the pattern, then silver may dip to $24.75 though it doesn't have to. This is a bullish chart to new highs
If silver runs up to new highs, this may suggest a weakening dollar which is what we've discussed on some of the forex pairs in the Elliott Wave Weekly Report.
Good luck!
Silver: Bearish Comeback! 🧸🧸🧸The bears have returned to the silver market and are finally working on realizing our primary scenario. We expect the silver price to drop under $24.04 and stabilize there before further moves down south are going to follow. In detail, we expect the price to fall between $18.62-$13.70.
Happy weekend!
SILVER forecast - went into correction mode and might extend furSilver is witnessing quite a huge dip today,
opened gap down below the support area, seeing further massive sell-off , this correction might extend further as i see a probability of cypher pattern on the daily chart and the support of cypher pattern also aligns with weekly support around 64810- 63000.
Hence , even if we se any rally in the coming trading session , it might get consumed in another selloff.
Conclusion : short term trend is definitely bearish, but intermediate and long and long term trend is still bullish, so as a investor one can wait for 65000 - 63000 levels as an investment zone.
Silver lacks momentum to break higher. Time to short?Silver has not been able to break through resistance level around $28 for more than a month now, which suggests that at the moment this may be the limit and a correction to $26-27 is highly possible. In the worst case, it could even reach $22-24. Short @ $28, TP $26-24-22, SL $29.
silver daily.All markets took a hit yesterday after fed announced something bearish.
Let's see which markets will continue lower.
Silver trading ideasBuy silver above 74222 and 80000+ trgt can come I see a triangle break above will give strong upmove.
