Green area consists of:
1) Fibonacci Golden Ratio 62%
2) Fibonacci Extension 127%
3) Middle number 16.500
4) Daily & Weekly EMA200 are around the marked area.
5) 2X AB=CD!
6) Channel projection
7) Let the bullish price action around the green area guides you into the trade!
16.500 is the key level, wait for a smaller timeframe candlestick patterns after the...
My prediction for silver is a rally which will last until Spring 2020 where it will hit the early $20's/oz. This is based on the pretty perfect technical breakout we saw a month back, which has now back tested and is preparing for the next leg higher. This is all happened while the gold/silver ratio is weakening quite dramatically relative to gold.
Silver tends to move in a very specific way. It moves very fast for a few days, only to act very calm in the next several days. Silver already lost its downward momentum as its been calm for a few days now. This characteristic pattern is what we saw also when Silver completed a broad top (just as it did recently) earlier this year.
What does it all come to?
ANALYSIS ON XAGUSD (Silverdusd)
Welcome to my analysis
Interesting Point of interest In the XAGUSD pair.
- Price below 100/200 day EMA.
- Buy reversal.
- Expecting more Upward momentum.
- Watch 17.07500 - 17.43000 for take profit.
- MACD showing bullish divergence
Monthly supply range(blueish) held perfectly well and now we are due for a retest lower.
*16.60$ - was never re-tested after a breakout and now should be a point of interest for investors.
We should see it being re-tested very soon. MACD suggest that there's plenty of momentum left & $16.40 in November - very likely.
Next target is $23.
We see a typical downtrend-move formed by lower highs and lower lows. For confirmation we have 2 trendlines + fibonacci levels (pervious at 61.8 reversed and now at 38.2) + Doji forming at the current level which indicates weakness by the short-term uptrend so therefore we should see weakness => to the downside.
What do you think? Comments are welcome! :)
First a perfect reaction of the .382 swing high to swing low and now a rejection of the 618. Levels to watch are a possible triangle trendline but buying that trendline would be to risky. Better buy would breakout of the downtrend triangle with a retest. If we get back to the 382 at 17.4 we could either have a V-shape reaction or we could smash through, that would...
Silver in comparison with gold still has it's final word, even if gold will go up, it will not compare with silvers future gains. The structure of silver's pattern since 2011 permits for such a breakout. This will probably be last chance to make significant profit from gold and silver before final consolidation. Also the wave B in depicted ABC structure might last...
This is a screenshot of silver using my custom indicator. As you see the indicator paints bull (buy) and sell (bear) signals. Catching the majority of the uptrend and the downtrend to maximize profits.
Here are the key factors to keep in mind today for Silver trades:
New Zealand Performance of Services Index: The New Zealand Performance of Services Index for August was reported at 54.6. Forex traders can compare this to the New Zealand Performance of Services Index for July which was reported at 54.8.
UK Rightmove House Prices: UK Rightmove House Prices for...
Price below 21 EMA is considered to be the beginning of a downtrend , also as per the charts price has been rejected after hitting the Resistance
Note:- Do analyze the chart before opening a short position!!!
XAGUSD has made contact this week with its 1D Higher Low trend line (bold) where it has so far rebounded, as it made a Higher Low (1D Highs/Lows = 0.0000). With 1D holding marginally onto bullish levels (RSI = 56.268, MACD = 0.403, ADX = 44.272) it is likely to sustain this rise all the way to the 19.650 Resistance, as long as 17.780 holds. On a different occasion...