TheSignalyst

SILVER - Potential Bullish Reversal!

Long
FOREXCOM:XAGUSD   Silver / U.S. Dollar
Hello everyone, if you like the idea, do not forget to support with a like and follow.

SILVER is approaching strong daily support in green so we will be looking for buy setups.

Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?

on H4: SILVER is forming a channel in blue but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

Meanwhile, until the buy is activated, SILVER would be overall bearish and can still trade lower.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

TheSignalyst lollobchara1
@lollobchara1, thanks a lot Elioo
Reply
Nice. I am bullish on both silver and gold. But I have to admit that silver is somewhat unnerving (but I suppose it is always like that). So far your prediction unravels nicely. Wish you good luck with your trade. If you want feel free to check my analysis on gold.

+1 Reply
TheSignalyst Tradersweekly
@Tradersweekly, thank you for sharing your thoughts brother! looks good
+1 Reply
Tradersweekly TheSignalyst
@TheSignalyst, Thank you too.
Reply
Great stuff, thanks for sharing! Here's our idea on gold

+1 Reply
TheSignalyst ForexTrendline
@ForexTrendline, thanks buddy
Reply
Thank you Sir
+1 Reply
@DBRuiters my pleasure DB
Reply
Simple and Perfect! Thanks
+1 Reply