🔸Hello traders, today let's review the 16 hour price chart of gold, nice
bull market in progress since October 2022. almost 25% gains off the lows,
however looks overbought/overextended currently.
🔸This market structure in progress resembles cup and handle pattern, so
it's possible that we get a decent/strong pullback near 2000/2050 USD
to complete the handle...
Silver, aka as Cinderella Gold.
Can it outperform Gold?
as Dollar takes loses?
Can it come clkose to it's close to 50$ All time highs?
To be found out soon and all this depends on the Feds.
One Love,
THE FXPROFESSOR
Short-term idea:
We might undergo a head and shoulders scenario on XAGUSD if 22.21 breaks.
This idea is invalid if the price goes above 22.71 before breaking 22.21 or hits the stop loss at 22.6 after breaking 22.21 and before reaching the target zone.
This idea is valid only a H1 gives a closing price below 22.21.
If this idea validates:
Stop loss is at...
I am expecting shorts squeeze in #xagusd, a massive bull run to start within few weeks, must buy in major pullbacks.
Buying range $22.900 to $21.000
Comfirm Targets: $25, $28, $31 and $42 again.
HEADER - So this is almost the same as DRAFT 5-4 with some important details.
SUMMARY - This is all the work that went into DRAFTS 3, 4, 5-1, -2, -3, and -4 including all of NOTES in each DRAFT. You can see them individually for background in links below. This is what price action should look like through 04/20/23. I have demonstrated how it is derived each...
HEADER - This is what I got after adjusting for 11-min and 22-min bars, BUT BEFORE CROSS EXAMINATION WITH TWO MORE SETTINGS.
SUMMARY - This is basically 5-2 zoomed in to THE NEXT 30 DAYS ONLY.
DETAILS - See previous drafts for background.
NOTES 1 - It's hard to make these boxes more accurate than this.
a) It basically requires updating ONCE A DAY FOR ALL SETS...
50% Retracement @ 21.09
200 Day MA @ 20.98
200 Week MA @ 21.43
Strong horizontal support between 21.30 and 21.10
Broken Downtrend (blue line) @ 20.97
Weekly 6 RSI @ 31
Daily 6 RSI @ 16
There is so much support in this area. RSI on daily and weekly has room to run. Looking for a long from here to ~28.50
HEADER - This is just tighter chart posted at the end of DRAFT 5-1. We will continue from here.
SUMMARY - While I haven't demonstrated the "cross-examination" I spoke up of in notes for DRAFT 5-1, I have completed enough of it on my own time to post this set of boxes running to end of April.
DETAILS - See previous drafts for background.
NOTES 1 - CONTINUING...
HEADER - This is an incomplete draft of PART 5, hence I labeled 5-1.
SUMMARY - The blue and red boxes are color coded for separate ratios of curves. I need to repeat this 2 more times, then I will re-average for finished draft.
DETAILS - We closed Friday at 1988. This changes things a little but not necessarily what you'd expect. First, the retrace floor...
Daily/4h time frames analysis on Silver.
Price action analysis.
Key levels & candlestick analysis.
Trading recommendations.
Thoughts.
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In this update we review the recent price action in the Silver futures contract and identify the next high probability trading opportunity and price objectives to target
Hold your horses! Silver looks as if its ready for a squeeze ! I predict an impulse movement creating silvers ATH any day now. 80 dollars, however i do not think it will sustain there long, most likely finding a bottom of 43 dollars. Then up to 111 dollars peaking impulse around mid-to-late June.
Silver is moving REALLY SMOOTH & easy to understand in terms of market structure. We saw market create its first impulse move to the upside in October 2022 (similar to Gold), which was then followed by a downside correction from January this year.
Silver didn't go below its last major low & last week created a bullish engulfing candle on the weekly TF, showing...
XAGUSD has completed the formation of a head and shoulders pattern with divergence on momentum indicators, and has made an initial break of the neckline. I prefer to wait for confirmation of the breakout before entering a sell position targeting 21.19. However, with the current global crisis in American and European banks, conditions may change at any moment, so...
HEADER - Things are moving quickly, no time to explain.
SUMMARY/DETAILS - From my laptop, more detailed than PART 3. See very recent related posts from last few days for more background.
NOTES - Will add later.
✅SILVER is going up currently
And the price broke the key structure level
Which is now a support, and after the pullback
And the retest, I think the price will go up
LONG🚀
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Hello,Traders!
SILVER broke the key
Horizontal level and
The breakout is confirmed
So after some correction
The target above is
Likely to be retested
Buy!
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See other ideas below too!
