#SILVER... well market trade near to his major supporting area.
It was hold 3 timea in history, keep in mind guys this time it can be different.
Let see what will be done from market side.
If market hold them bounce expected from this are otherwise not.
So t hols your buying positions below this support line.
Trade wisely
Good luck
✅SILVER is trading in a
Downtrend and it has
Formed a parallel range
Where It consolidated
For a while but is now
Trying to make a bearish
Breakout and IF it happens
Then we can go short
On Silver with the target
Being the demand level
Below at around 22.5$
SHORT🔥
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Pair : XAGUSD ( Silver / U.S Dollar )
Description :
Consolidation Phase at the Previous Strong Support Zone , If it Breaks the Upper Trend Line then Buy and If Breaks Lower Trend Line then Sell it is Rejecting from the Fibonacci Level - 78.60% with Strong Divergence
Preferred direction: SELL
Comment: Today is quite an important day, since during the American session, data on the US CPI will be published. These are some of the most volatile moments in the market, so in the event of significant deviations, high volatility in the market should not be a surprise to anyone. For gold in particular, we also expect downward...
Unlike Gold, which dropped under support yesterday, Silver managed to keep the range intact and is still trading above the newly found support.
However, when it comes to precious metals, the pressure seems to be on the sell side and Silver could also drop under range's support.
A drop under this level could lead to a 500 pips drop to the next important support at 22.25
Silver / XAGUSD is trading near the bottom of 15 month Channel Up with the 1day MA50 and MA200 on a parallel move.
The 1day RSI is on a Channel Up / Bullish divergence since May 25th and it is much like the bottom trade at the start of the Channel Up.
Buy and target 25.900 (bottom of Resistance A).
Previous chart:
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Preferred direction: SELL
Comment: The metal completed the first goal of a short trade and the price reached the level of 1912. Today there were especially good entry points for short intraday gold, giving a potential move of 1 to 3 and higher. However, the decline is unlikely to stop there. There is a possibility of a fall to 1900, which we noted as the...
Preferred direction: SELL
Comment: The short trading idea for the British pound, published last week, has also been working out perfectly and is already at a breaking point. In the very near future, local lows will be updated and against the background this will most likely be a short-term downward impulse.
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Last week, we already bought Silver, following the test of a key daily structure support.
We spotted one more bullish confirmation on a 4H time frame on a live session with my students today.
The price formed a double bottom pattern and broke and closed above its neckline.
It increases the probabilities that the market will keep growing.
Goals: 23.45 /...
Preferred direction: SELL
Comment: The Australian surprisingly shows potential buying priority, however, the medium-term outlook is still on the side of sellers, and it is better to stick to it. There is potential for growth to the upper limit of the current balance at the level of 0.65141. During this month, a decline to 0.63500 and below is expected.
Thank...
Silver (XAGUSD) gave a solid rejection at the top of the long-term Channel Up (see chart below) when we last looked into it on July 21 2023:
The price hit on Thursday the 1W MA50 (red trend-line), which gave the previous short-term rally in mid-August. As long as it holds (closes weekly candles above it), we expect a similar rebound, thus turning bullish...
Hello traders so XAGUSD Formed a Classic bullish reversal pattern the double bottom
so we might expect a bullish reaction.
OUR BULLISH CLUES :
-the price formed a double bottom on a key support level (M30-M15 TF)
-RSI BULLISH DIVERGENCE
the breakout and retest of the neckline will be our confirmation .
leave a like and follow if you found this helpful i...
SILVER
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long SILVER
Entry Point - 22.929
Stop Loss - 22.411
Take Profit - 23.974
Our Risk - 1%
Start protection of your profits from lower levels
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Those who trade the market opening, watch Silver on 30m time frame.
The price reached a solid support and formed a tiny double bottom on that.
If the market breaks and closes above 22.94 minor resistance,
I will expect a bullish movement all the way up to 23.1 level.
Safe stop loss will be below a green support.
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My dear friends,
SILVER looks like it will make a good move, and here are the details:
The market is trading on 23.0510 pivot level.
Bias -Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 23.8639
Recommended Stop Loss - 22.6538
About Used...
Preferred direction: SELL
Comment: There was no supposed downward impulse for gold either; the price recovered slightly, but the overall picture remained the same in favour of the seller. The same sell-deals are being considered towards the level of 1912 with the potential for a fall to 1900.
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