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Preciousmetals

Silver's wicked Dragonfly DojiAfter, over 500 days of a series of lower highs and lower lows, Silver has printed a text book dragonfly doji on the 1 month chart. This is a Bullish reversal candle when found at the bottom of a down trend but there are a few rules to a Dragonfly Doji: ✅ The candle closes & opens at or damn near the same price. Preferably at the exact same level, but it’s not 100% necessary. ✅ The lower wick (shadow) is very long. ✅ The upper wick is absent or close to non-existing. Looking at chart, all 3 boxes are checked perfectly but thats not always enough. We need confluence in order to reduce false signals. Trading a candlestick pattern alone can give poor results to your trades. Dojis pair well with volatility indicators such as Bollinger Bands or the ADX DI, when reacting to support, moving averages and even FIB levels. If you put the 50MA on the chart you will notice that sellers pushed the price down into market structure where it held, and price action wicked back above the 50MA to close as support. Silver also found support on the lower Bollinger Band. On a side note, Silver had closed 12 of the last 14 weekly candles as red but also printed a MASSIVE Bullish Engulfing candle on the weekly. If the next candle closes below the low of the Dragonfly, this invalidates the signal. When using the Dragonfly Doji to trade, enter at the close of the candle for confirmation, look for the next resistance level to take profit and move your stop loss up as the trade grows. As stated in a previous post, I do not trade paper metals, I simply use the charts to try and time better entires to stack physical metals. Which I did at 18.65 :) With the state of the market and economy, Pm's may be in for quite the rally once the world is willing to admit we are in a recession. Im stoked on this pattern and cant wait to see how the August candle closes. Do you trade or stack silver?
TVC:SILVERLong
by jlouvierobv
Silver analysis: bear market rally and what lies aheadSilver has risen by 11% in the last two weeks. This performance comes after losing about 30% since March 8, indicating a so-called bear-market rally. The main macro driver behind the silver price recovery has been a sharp drop in US bond yields, with the 1 0-year yield falling to 3-month lows at 2.6%, its lowest level since April, as the market now expects the Fed to be more dovish because of the recession. From a technical standpoint, silver is approaching an important area of technical resistance in the $20.5-20.6 range, which includes the 50-day moving average, which has been trading above the metal's prices for more than three months. This area was also the support level in May, which was then breached in late June, resulting in a sharp selloff. The significant rebound from the lower line of the major descending channel indicates a positive short-term price momentum for silver , with the RSI breaking above 50 for the first time since April 20th. An overshoot above $20.7, and then above the psychological level of $21, would provide the bulls with additional confidence. Then, $22-22.3 (May/June resistance & February-April support) provides an important resistance area, where some stronger seller pressure could appear. However, as long as prices do not decisively exceed the 50% Fibonacci retracement level at $22.6 and the 200-dma at $22.9, the broader silver's picture remains tilted to the bearish side. Looking ahead, silver's strong correlation with safe-haven gold – which is currently close to one – is a positive factor if recession fears continue to fuel speculation on a dovish Fed. In contrast, if the Fed continues to tighten monetary policy despite the recession, this might keep silver prices relatively contained (below $22.5) for longer. Analysis by Capital.com's forex and metals analyst Piero Cingari
TVC:SILVER
by Capitalcom
Silver possible will Bull soon Hey guys, this is part of my post earlier explaining the bigger picture and what we could be seeing till the end of the year into 2023. Gold and silver are both bouncing on previous support lines and after the next sell-off in the equity markets, we could see a double bottom solidifying the bottom for now and see precious metals bull hard maybe back up to the highs of this year before the next inflation cycle downturn early next year. This idea is supported by the pattern with the AUD - USD, if you compare Silver with AUD they track perfectly so is a great indicator of precious metals markets (chart below). DXY and yields falling also support this idea.
TVC:SILVERLong
by jackwheeler
DXYHTF weekly chart analysis shows that W3 is likely in at my $109.50 target posted 3-4 weeks ago in my group channel & here on TV as well. The extended 3rd wave is actually structurally perfect. W3 hits the 1.618% fib extension as in most strong bullish momentum charts and forms a bearish hammer top on the weekly showing that the top of wave 3 is likely now in. This being said W4 can hit the 618% fib retracement level around $97.32 or the 50% at $99.60 or even the 382% around $101.88. As of now there's no way to be sure how wave 4 plays out but I expect Wave 4 to hit $98 and during this TF of the DXY W4 the stock market & crypto markets should outperform vs the DXY and possibly we finally get the big blow off top to the SP500 around 6,000 and $78k BTC. After that W5 will come fast and destroy any risk assets.
TVC:DXYShort
by Big_Mike716
$XAG - Keep an eye!$XAG - Keep an eye! Precious metals have had an ugly time within the market, when it comes to rate hikes decisions stronger dxy leading commodities to weaken further, but now we are at key areas when it comes to HT and that's interesting. As I always state HT = ST movement. Regarding support areas of $XAG if $18 doesn't hold we head further lower to $17 and that can easily be achieved but this area of support we've tested for yrs and that's why it really matters and sure we could look at metals miner we could even look further to get the best R/R for XAUXAG to seek out further validation. I'm personally on side line for now. There has been various headlines regarding, lot of buyers when it comes to physical precious metal buying for 'inflation' hedge... Have a great weekend TJ
OANDA:XAGUSD
by Trade_Journal
Trade Idea: Short setup in XAUUSD in case of a bearish scenario.In every new post, I always like to explain that my views are not a statement of "This will happen." Instead, my posts should be interpreted as "We never know what direction the price will take" However if the price movement becomes bearish, this is how I will trade the market. Another important element to highlight is that my setups have a 50% win rate. That means that over 30 setups, I have 15 stop losses. So how do I make money if half of the time I'm wrong? The answer is: "Thanks to Risk to reward ratios." So, my win rate is 50%; however, when I win, I make 2 times what I'm risking on average. And that's the key. You must be prepared to see deviations from the average. For example, on a strategy with a 50% win rate, you will sometimes observe 6 or 7 consecutive stop losses. That's called Standard deviation (but we will speak about that in another post). This long introduction is made to develop a realistic view of a setup or a strategy and, in this case, my strategy. -------------------------------------------------------------------------------------------- Bearish Technical Perspective: a) The price had been moving in a range since the top in August 2020. b) 1 year later, in August 2021, we observed the beginning of a new bullish trend defined by the white ascending trendline c) Almost 300 days later, the price broke that trendline, and we observed a corrective formation. (A pullback) d) I never trade a structure without having a clear pattern. In this case, I see the ABC pattern. e) Another important element is that I never take a setup that I can not prove that the same concept worked in the past with the same or similar context. (Like this scenario in 2013)(It's important that you look for more than one scenario) QUESTION : Is this a guarantee that the setup will be successful? ANSWER: NO, it's not guaranteed. Let's take a second to speak about a good principle in trading. You can find evidence that something should evolve in a certain way; you can see a perfect scenario, literally a 10/10, and still have a stop loss. You are working with statistics. But don't get disappointed; if you only focus on 10/10 setups, you will see over a good sample that there's a clear edge. Final details about the setup: I'm risking 3% of my capital on the stop loss and aiming to make 6% in case of a take profit. The setup duration is expected to be 30 to 45 days if everything goes as planned. If I have a stop loss, that's it. So let your stop-loss gently take you out of the market. If the order is not executed and we observe bullish movements, I will change my perspective to trade long. Thanks for reading!
OANDA:XAUUSDShort
by ThinkingAntsOk
5
XAUUSD buy position**SIMILAR OPPORTUNITY TO GBPUSD,so im just copying my insight :) Another buy opportunity for XAUUSD . From a massive drop after CPI , i see this as a chance to make profit. my end goal is to hit 1800++ level again as it was the initial price forXAUUSD , however, my first line of TP is 1750, then my original TP:1800, and hopefully it still reaches to 1850. Iv scalped back and forth the past few days slow move, however setting some long term positions for XAUUSD because I can see a great potential when this reverses.. Im prepared to have a few more positions if ever this continue to slide down. Let's see if this reverses back soon, andlet's see how this day rolls. Be careful in trading because like what they always say, your capital is at risk:)
OANDA:XAUUSD
by delrosariohanan
1
GOLD Daily TA Cautiously BearishGOLD Daily cautiously bearish. Recommended ratio: 25% Gold, 75% Cash. *The Head and Shoulders formation is currently completing as the 50 MA crosses under the 200 MA (Death Cross). Gold, Oil, USD, Treasuries, Crypto and Equities are all either up or flat; this is indicative of a broader reversal in market sentiment regarding recessionary fears. Both Fed Governor Christopher Waller and St. Louis Fed President James Bullard said they expect a 75bps rate hike in July followed by at least 50bps in September and then potentially 25bps thereafter because financial markets and the economy are both responding to the rates hikes appropriately thus far; they also both suggested that recession fears are overblown, which prompted almost all markets to rally. Considering that the Fed largely operates off of lagging data, it would be prudent to assume that inflation may not have peaked quite yet; that said, it's advised to continue to be vigilant as the bottom continues to be found.* Price is currently completing a H&S breakdown and is testing $1742 minor support after also breaking down out of the uptrend line from April 2020 (~$1800). Volume remains Moderate (high) and is currently on track to favor buyers for a second consecutive session if it can close today's session in the green. Parabolic SAR flips bullish at $1800, this margin is mildly bullish. RSI is currently trending up at 28 while testing 27 support; the next resistance is the uptrend line from April 2013 at 36. Stochastic is currently resisting a test of max bottom as it crosses over bullish at 25. MACD broke down below -11 support and is currently trending down at -25 with no signs of trough formation; the next support is at -39. ADX is currently trending up at 21 as Price continues to break down, this is mildly bullish. If Price is able to bounce here at $1742 and continue up, it will likely test $1784 resistance . However, if Price continues to break down here then it will likely retest $1684 major support . Mental Stop Loss: (two consecutive closes above) $1748.
G
by dailytaguy
Gold Fractals Align - Could See A HUGE Price Swing HigherCycles & Fractals are aligning for an aggressive move higher in Gold & Silver. If my research is correct, a similar fractal is setting up right now compared to the one from the GFC (2008-2011). I believe we are at a peak in the Gold/Silver ratio and we could see an aggressive move downward in this ratio over the next 6~18+ months - sending Gold and Silver MUCH HIGHER. Follow my research and learn to protect and grow your wealth. There are still decent stocks/ETFs to trade - but now is the time to be SUPER CAUTIOUS. Gold/Silver/Bonds should begin to move higher as FEAR takes over the markets.
COMEX:GC1!Long
by BradMatheny
2