timwest
Long

SILVER - XAGUSD - Weekly Triangle - Sitting on the Apex Price

FX:XAGUSD   Silver/U.S. Dollar
Weekly Bars and Profiles of the moves up and down across the range here from 14 to 18.50.

The contracting range across the Dec-January initial range is a sign the market is waiting for news.

The recent green uptrend (boxed in green) is still intact but it sitting on support. The rally has had 3 weeks where the price range EXPANDED on the upside where the market ADVANCED GREATER THAN THE PREVIOUS WEEK'S RANGE, which is a very bullish phenomenon. It is a sign the buyers are aggressive and the sellers are weak. The decline off of the recent high at 17.75 is a smaller range and again this week is a smaller range still, which is a sign that sellers are weak. The buyers are there, but they are patient for the time being. But this is the place to be buying against with the lowest risk and most upside potential. Once another rally starts, you can add to your position.

Another bullish development is that the rally made a new, higher low in this leg of the rally than the March rally.

Tim 8:40AM-9:02 EST - May 29, 2015 16.714 last XAGUSD            
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
moneymaking
2 years ago
Hey Tim, Thank you for sharing. Love your ideas. Good Luck :)
+1 Reply
timwest PRO moneymaking
2 years ago
Thanks @moneymaking - I appreciate your comment.
Reply
MARCHEKI timwest
a year ago
Hello Tim,
Thanks for the outlook, do you have any recent analysis on Silver?
Reply
Justiceisfalse
2 years ago
A very interesting perspective. Definitely worth keeping an eye open.
Reply
Very nice profile view, makes the price action really transparent without any ambiguous patterns and whatnot.
Great chart Tim, thanks for sharing.
Reply
GcNaif MOD IvanLabrie
2 years ago
yes Ivan this is neat,clean and simple , Great Chart
+1 Reply
ChamsJabberi
2 years ago
hhhhh
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out