Hello Everyone, The XAG/USD pair is currently showing signs of upward momentum, with a significant resistance level at 29.078. Our focus is now on observing whether the strong 1Y resistance point at 27.222 can potentially serve as a support level if retested in the future. TradeWithTheTrend3344
I still think lower but it's just a matter of time to see if it shows me if it is going lower or not, there's a possible 25% increase left in it so I'm still undecided, clear liquidity to take buyside though.
Silver 4-hour wave count: The correction of the green fourth wave ended on the evening of last Thursday, the 26th. On Monday, we have already started the rise of the green fifth wave. Currently, gold is being led by silver, with silver being stronger. The target for the green fifth wave is 34.
Hello everyone I have 2 scenario for gold and I guess That silver will achieve the first place among other precious metals very soon and lead all attentions to itself. For now it is struggling in a big range area from 2020 and so my bullish confirmation is whenever silver penetrate this purple channel and run away from this purple range zone to start its...
The market is currently in a correction pattern and is reacting to a possible level of structure. Let's see if this the move that we are expecting to move price up. Feel free to share your views
Earlier today gold was, like US stock indices, continuing to trade in a relatively narrow range. But unlike the indices, it was consolidating at lower levels following a sell-off, rather than at higher levels after a rally. Despite this, gold was managing to hold above $2,300. But there was no immediate indication that momentum, as measured by the MACD, had found...
Silver has been in a downward pointing "shape" with a resistance on the top as a force pointing down, while being supported in a "cup" shaped support that can become resistance on the up if it is broken down. The levels in this project are potential support/resistance zones in the future, where potential pivot points can occur (marked examples in the past)....
#sell_positon #4h We have a supply area. Divergence in the RSI indicator. The previous demand area has been penetrated by the price and the price tends to continue the previous downtrend.
Silver made a harmonic pattern ABCD. And as we know D is the reversal point and after reaching point D the silver start making higher highs and higher lows (Dow theory)
Trade ideas linking liquidity + P/D arrays. Understanding liquidity is tricky as people said that liquidity is everywhere in the market e.g. lows, highs, fvg, trendlines, stoploss etc... I found that in my trading with P/D arrays something was missing, why is it that some P/D arrays work and others fail. The answer is liquidity. The perfect scenario; Price...
Set the Sell Pending Orders at: R1: 27.72200 (SL: 27.82200 | TP: 27.52200 ) R2: 28.05900 (SL: 28.15900 | TP: 27.65900 ) Set the Buy Pending Orders at: S1: 27.26500 (SL: 27.16500 | TP: 27.46500 ) S2: 26.98300 (SL: 26.88300 | TP: 27.38300)
Preferred direction: BUY Comment: As noted at the beginning of the week, the prospects for metals are quite vague, but it is still possible to make more assumptions about growth. The nearest serious resistance level is located at 28.69664 , where growth is considered. Both scenarios are depicted in the graph. Scenario №1 is the most likely, and here it is...
Silver prices have faced resistance at key technical levels and failed to break out, amid strengthening U.S. dollar and concerns over industrial demand. With economic data showing signs of improvement and risk appetite increasing, the bearish pressure on silver is likely to continue in the short term. Silver Market Bearish 📉 Date: May 9, 2024 Asset: Silver...
Here is our detailed technical review for SILVER. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 27.564. Taking into consideration the structure & trend analysis, I believe that the market will reach 27.047 level soon. P.S The term oversold refers to a...
Silver technical analysis: Regular readers will know that I have been awaiting for gold prices to pop higher over the past week. Whilst there's no cigar, the bias remains bullish until bearish momentum returns to the daily timeframe. However, silver may have the more compelling setup. Silver prices formed a strong rally in March through the first half of April,...
In my earlier analysis of OANDA:XAGUSD , I emphasized that bulls ought to monitor the price action closely, as Silver's correction might have concluded and previous resistance could now serve as support. As anticipated, following a double Pin Bar formation in that area, Silver's price began to ascend, currently trading at 27.60, around an interim resistance...
Silver (XAG/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 27.63 which is a pullback resistance. Stop loss is at 28.30 which is a level that sits above the 127.2% Fibonacci extension level and a pullback resistance. Take profit is at 26.83 which is an overlap support. High Risk...