Silver (XAGUSD) Long Idea: Scaling Into a Bullish TrendHello TradingView Community,
This post outlines a bullish continuation strategy on the Silver / U.S. Dollar (XAGUSD) pair, based on the 15-minute timeframe. The chart demonstrates a method of scaling into a strong uptrend by adding to a position on successful retests of broken resistance.
Technical Analysis:
The chart is in a powerful uptrend, making a series of higher highs and higher lows. The strategy employed here is to identify key horizontal resistance levels, wait for a clear breakout, and then enter a long position on the pullback as the level flips to new support ("resistance-turned-support").
We can see this pattern has been successfully applied at multiple levels on the chart, with each breakout providing a new opportunity to enter or add to a long position.
Current Trade Setup:
The most recent trade setup is based on the breakout above the $52.370 level. The price has pushed above this former resistance, and the idea is to look for another long entry on a pullback to this new support zone.
The long position tool on the chart visualizes this latest trade plan:
Entry: Approximately $52.370 (at the retest of the new support).
Stop Loss: $51.403 (placed below the key support structure to invalidate the idea if the level fails to hold).
Take Profit: $55.272 (targeting a new higher high in the trend).
This setup provides a structured way to continue capitalizing on the existing bullish momentum.
Disclaimer: This analysis is for educational and discussion purposes only and should not be considered as financial advice. Trading commodities involves significant risk. Please conduct your own due diligence and manage your risk appropriately.
