Welcome back, guys! 👋I'm Skeptic, and today we're diving into an analysis of Silver (XAG/USD) on the 1-hour time frame to spot potential long and short triggers.
🔮Daily Time Frame Insight
XAG/USD remains bullish on the daily chart as we’re consistently printing higher lows, maintaining the overall uptrend. Given the current economic and geopolitical tensions, caution is essential, but the bullish structure remains intact, so we can still anticipate further upward movement.
📈1-Hour Time Frame & Long Trigger
In the 1-hour time frame, the bullish momentum is clearly visible. Pullbacks are lengthy with large candles, while uptrends are sharp with smaller, more concentrated candles. This pattern indicates strong buying interest when momentum picks up.
Our primary long trigger will be a break above the 4-hour resistance at 33.00237. Additionally, if the RSI re-enters the overbought zone during the breakout, it will add more confirmation and confidence to the long position, allowing us to increase our risk slightly.
📉Short Trigger
For short setups, I’ll wait for a clear break of the support at 31.92637, which also coincides with the previous low. If the downward move is sharp and decisive, this could signal a potential short entry. Until then, I’ll stay on the sidelines for shorts, as the overall trend remains bullish.
Let me know your thoughts and ideas on XAG/USD! 💬 Drop any questions in the comments, and I’ll be happy to discuss them. Let’s grow together, not alone! 🔥
🔮Daily Time Frame Insight
XAG/USD remains bullish on the daily chart as we’re consistently printing higher lows, maintaining the overall uptrend. Given the current economic and geopolitical tensions, caution is essential, but the bullish structure remains intact, so we can still anticipate further upward movement.
📈1-Hour Time Frame & Long Trigger
In the 1-hour time frame, the bullish momentum is clearly visible. Pullbacks are lengthy with large candles, while uptrends are sharp with smaller, more concentrated candles. This pattern indicates strong buying interest when momentum picks up.
Our primary long trigger will be a break above the 4-hour resistance at 33.00237. Additionally, if the RSI re-enters the overbought zone during the breakout, it will add more confirmation and confidence to the long position, allowing us to increase our risk slightly.
📉Short Trigger
For short setups, I’ll wait for a clear break of the support at 31.92637, which also coincides with the previous low. If the downward move is sharp and decisive, this could signal a potential short entry. Until then, I’ll stay on the sidelines for shorts, as the overall trend remains bullish.
Let me know your thoughts and ideas on XAG/USD! 💬 Drop any questions in the comments, and I’ll be happy to discuss them. Let’s grow together, not alone! 🔥
Trade closed: target reached
Hey guys! 🚀✔ The trigger we gave on silver activated after breaking resistance at 33.00237 with a breakout candle, and with strong momentum, it managed to grow by 2.6%, moving with an R/R of 3 (if your stop loss was tighter, it’s probably over 7 by now).
🔍This area we’ve reached is a good spot to secure profits.
🔮 Currently, it’s not an ideal entry point for new positions, but if we range around here or see a rejection candle, the 33.93037 zone will become important for a potential re-entry.
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.
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.