Silver - Up, Up and Away!
Double bottom - been loving the long side of silver, any pull back is an opportunity towards 23 half areas imo and be careful as we still have nfp but even if get a pull back on nfp I am dripping in further silver and other pairs.
XGAUSD / 1D
Hello traders, welcome back to another market breakdown.
Silver has been trading in a down trend. However, the target for bears as measured leg down has been met. The price seems to be in a period of accumulation. Where traders should look to get out from shorts and get on longs.
Checkout the chart for what I'm waiting for.
something very bad is about to happen to gold
I am witnessing a lot of confluence; there is hidden bearish divergence in gold on daily plus I think dxy is going to make one more up with EURUSD to one more down
Alright guys, call it USA Midterm Election impact or whatever, but we just had an inverted head and shoulder on silver which calls out for a possible full time bullish reversal on the XAGUSD. The pattern successfully hit the middle and first target zone between 21.9-22.5, tagging a price of 22.05. Now, there are two situations:
1- Retracement occurs and silver...
While the price is above the support 17.520, resumption of uptrend is expected.
We make sure when the resistance at 22.417 breaks.
If the support at 17.520 is broken, the short-term forecast -resumption of uptrend- will be invalid.
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is...
Comparing the last 50 years of the Silver chart along with the 80's market top along with the 2011 market top. We can see a clear cup and handle 42 years in the making.
Price action is laid over 2 indicators
The Extended Golden Ratio Multiplier
The CM Ultimate MA MTF
The focus of this chart is the pink fib line of the Multiplier and the green & red CM ...
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XAGUSD backtested twice the previously broken violet downtrendline (zoom out) and it held as support. Price recently bounced up and now breaking the falling wedge. If the break is successful then we could see price rising to...
While the price is above the support 17.520, beginning of uptrend is expected.
We make sure when the resistance at 21.200 breaks.
If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is...
In March 2020, we saw Silver shoot up in excess of 150%. Since then, we've been in a major correction for 2 years.
A correction usually consists of 3 waves with wave C having 5 waves and following the impulse schematic. We can see that we're currently in wave 4 and approaching the wave 4 invalidation level. This allows us to have a clear area for sells and...