Over trend is bearish so far it seems to be respecting higher the trendlines based on higher timeframes, Still no major bearish action yet but this could be the start of a Downtrend Continuation SL's and TP are on the chart but please use risk management! Waiting for more lower highs indicating bearish price action and seeing how much it pulls back. Stop hunts...
Today I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70....
Today I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70....
Hi guys,
Today I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the 18.30 area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the...
Sell Silver with lowest lot possible. Look for bigger lot @18.19/20 (test of body high).
If the re-test won't happen the small lot will pay the best point's. Simple as that.
Look for a target of 17.00
FX_IDC:XAGUSD
We are in a critical point for gold and silver, tomorrow or Friday (NFP) we will have a clearer picture.
I believe the resistance will hold. If that's the case, gold and silver will go down. I think silver will be more rewarding among the 2.
Pay close attention to the 10Y behavior before taking any position.
Will update when we have a clear direction.
Silver seems to be forming a topping structure, there is a major supply zone around 18.40, if price can close below the trend line i would be short to around the next trend/200EMA.
The RSI is also losing momentum and showing a divergence with price.
Weaker than expected NFP could be the catalyst needed here.
Both a short term and long term position have been cast. I'm still trying to incorporate the fib circles to the charts, but beyond that, even more basic chartism seems to indicate this too.
Looks Bearish As i can clearly see bears selling at top and no sign of bulls here same for gold as well short at price around 18.050 is nice price as this is very expensive now and no one like to hold this trade on long side.
Good luck Muze(xag/usd)
I think silver is on its way to confirm the bottom that was set in december 2016. I don't think that is quite confirmed yet because silver is sill ranging in the downward trend since the peak in 2016-07-04. But I can see two potential inverse head and shoulder come into play.
First play: If silver closes over 17.20 these three coming trading days, I would expect...
This is the fifth time silver has found its self at this level. The previous times it failed miserably will this time be different? The Risk reward is very compelling! I would gladly take a lose if I am wrong on this one.
