Master Silver Trading: Profitable Price Action Strategies!
SILVER AlexgoldhunterPrice Action Analysis and Strategy
Key Levels and Zones
Support Levels:
28.500 USD: A crucial support level where the price has found buying interest before.
28.700 USD: Another significant support level indicating strong buying pressure.
Resistance Levels:
29.400 USD: A strong resistance level where the price has faced selling pressure.
30.480 USD: Another notable resistance level suggesting potential selling interest.
Break of Structure (BOS):
Multiple BOS annotations on the chart indicate significant shifts in market structure, highlighting potential areas of interest for traders.
Fibonacci Retracement Levels:
0.382 Level: 29.108248 USD
0.5 Level: 29.222 USD
0.618 Level: 29.33552 USD
0.705 Level: 29.4162 USD
0.786 Level: 29.497704 USD
Volume Analysis:
Volume spikes are visible, indicating periods of high trading activity, which can be used to confirm breakouts or reversals.
Buy Strategy
Entry Point:
Consider entering a buy position if the price breaks above the resistance level at 29.400 USD with strong volume confirmation.
Alternatively, look for a bounce from the support level at 28.500 USD with a bullish candlestick pattern and increasing volume.
Stop Loss:
Place a stop loss below the recent swing low or support level, for example, below 28.500 USD.
Take Profit:
Set take profit levels at the next resistance levels, such as 30.480 USD or use Fibonacci extension levels for further targets.
Sell Strategy
Entry Point:
Consider entering a sell position if the price breaks below the support level at 28.500 USD with strong volume confirmation.
Alternatively, look for a rejection from the resistance level at 29.400 USD with a bearish candlestick pattern and increasing volume.
Stop Loss:
Place a stop loss above the recent swing high or resistance level, for example, above 29.400 USD.
Take Profit:
Set take profit levels at the next support levels, such as 28.500 USD or use Fibonacci retracement levels for further targets.
Simple VIP Signal
ENTRY: 28.500 USD
TP1: 29.108248 USD
TP2: 29.497704 USD
SL: 28.500 USD
Conclusion
This chart shows a detailed technical analysis of Silver (XAG/USD) using price action techniques, highlighting key support and resistance levels, break of structure points, and Fibonacci retracement levels. These elements can be used to develop a buy and sell strategy based on market behavior and volume analysis.
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Alex Gold Hunter
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.