Rupesh
Long

Buy Silver Target1 17 T2 17.20 STOP LOSS 16.50 (IF CLOSE BLOW )

FX:XAGUSD   Silver/U.S. Dollar
214 12 8
Technical outlook and chart setups:
Silver             tested lows around $16.50 yesterday again before pulling back sharply. The metal is trading around the level of $16.80 at the moment, trying to move higher towards fresh highs. Please note that the metal has bounced off its support trendline and also fibonacci 0.50 levels of the rally between $15.60 and $17.70. Immediate support is seen at $16.20 followed by $15.80, $15.30, and lower. Resistance is seen at $17.30 (interim) followed by $17.70, $18.40/50, and higher respectively.

Trading recommendations: Remain long, stop is at $16.20, a target is open. Good luck!

Rupesh
2 years ago
Silver is forming energy for counter attack
Reply
timwest PRO
2 years ago
I like your chart Rupesh. You have a stop loss, a target, trend lines, 0.50 retracement, and rising moving average (50 day). Well done. Is there anything else you could add to add even more flavor to the chart? Would you buy more right here?
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Rupesh
2 years ago
ALL GIVEN TARGETS ACHIEVED
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timwest PRO Rupesh
2 years ago
Awesome job ;-)
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Rupesh timwest
2 years ago
Thanks you sir
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timwest PRO Rupesh
2 years ago
"Resistance is seen at $17.30 (interim) followed by $17.70, $18.40/50, and higher respectively. " ... Well, there are some upside targets still on the table :-)
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nimish_arora
2 years ago
It's fallen from highs today can we add position here or liquidate?
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Rupesh nimish_arora
2 years ago
Dear,
Nimish, As define earlier All Given Targets are achieved.
For new fresh position wait for any new Trades.
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Rupesh Rupesh
2 years ago
We need more confirmations. As you saw yestarday silver not stable in his new high and closes near to its open. Thats means is daily candlestic is dozi. So we need more clear direction of silver.
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nimish_arora Rupesh
2 years ago
Thanks Rupesh, We can still maintain our longs with stop loss around $16.2 like you mentioned? I am not looking for a day trade my Target is to test around $18 mark by 20th of this month! Although yesterday it couldnt hold its gain due to the sudden rise in the Dollar index after better than expected ISLM Data, I feel today will be the day if we close around $17 mark may confirm the retest towards $18. Lets see I really liked your analysis.
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Rupesh nimish_arora
2 years ago
Today can see lower high from yestaday highs. So Please Be safe.
If Silver not reach higher high then I will be bearish and with the trend.
Silver already tested Upper Channel.
Reply
nimish_arora Rupesh
2 years ago
Cheers! Even with a weak Dollar index its failing to move up doesnt look good.
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