H1 : We are currently in the h1 demand are
15MIN : and created a new 15min. demand zone
TP1 : 1:1
TP2: Trail till hourly resistance above
Good luck!
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i wait 0.618 for days but i missed the chance.
so.. patience sometimes brings me perfect entry, but sometimes i just missed it.
But I still prefer to be patient because I always believe it will be a second chance, and i am not gonna open a position until it's the best point.
For those who missed my previous post on silver where i described a head and shoulders pattern, we now have another opportunity for going short. Price has retraced in a corrective structure after breaking out the neckline of the pattern and is now testing the 0.618 fib retracement level of the impulse that broke out the pattern. That's a very nice level to sell silver.
We are in second wave of deeper correction in 1W chart, since 80s. we may see huge weakness and falling dollar in F16-F17. here 92.5 and 88 is crucial barrier for medium term range.
FX_IDC:XAGUSD
We may go in correction from here depending upon the dollar strength if it finds to bounce back.
Not a good place to short.
Wait for correction and look for upward wave formation
Buying dips would be wise.
Silver had a flat correction in wave 2. Then a huge wave 3 up is ongoing for these days. Will wave 4 be a sharp correction? Let's see how alteration rule play.
Good luck for everyone!
Good morning traders,
A short term bearish setup is ready for Silver , with a target at round figure 17 and SL above 17.6 on a daily close
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6 Trading Rules :
1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a...
Although overall we look for buy setups in silver, we now have a very good potential sell setup. Looking the daily chart we have a deep crab pattern completion with price having already reversed from that 1.618 fib level. In a lower timeframe we see that price has broken below CD wave and it's now correcting. We have a pending head & shoulders pattern which can be...
Following in the shadow of Gold, Silver is just a few cent short of making a new highs here.
Expect $17.5~18.5 in the following days ahead.
Nice bottoming overall...
Quick update in gold..
Price action have been holding up ridiculously well for the past month despite the record pace of rallying in the stock market.
SPY:
However, the divergence between USDJPY continues which does not bode well for stocks.
USDJPY:
On the lower timeframe perspective of gold (4~ 12 hour), it does seems that we have made a higher...
Silver is under bearish pressure at least in the shorter term. Bearish convergence has been created on the H1 chart and now the pair is consolidating. We can go short with the break of the lower trend line on the M15 chart aiming 17.30 as first target and 17.00 as second one.
