Silverforecast
XAGUSD - 240 MINS TIME FRAMEThe Structure looks good to us, waiting for the this to correct and then give us these opportunities as shown on this instrument.
Note: its my view only and its for educational purpose only. only who has got knowledge in this strategy will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap.
we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves).
Just ride the bullish or bearish impulsive move.
buy low and sell high concept. buy at cheaper price and sell at expensive price.
Keep it simple, keep it Unique.
please keep your comments respectful.
Thanks for your support....
Current silver XAG resemble BTC 2018 pattern As the points numbered it has some resemblance between BTC and Silver (current price: $25.70) where points 1-5 has already touched an important trendline. To see what will happen to the future price action, we will have to see what is the price reaction at the trendline.
If it hovers around the top of the trendline a quite some time, go LONG when the price tighten and the spread is small seems to be a better probability.
If price get some kind of dramatic reaction especially to the down side of the trendline, expect a CAPITULATION event happening soon. Long term holders will have to place their stop loss lower than $7 mark. Short term holders can place orders around the $12-$9 mark and expect a bull run for 2-5 years afterwards.
Of course the timeframe for BTC is daily and silver is weekly however because BTC moves fast and large enough I consider them to offsetting each other. However if its outside this plan you should know where to place the stop losses with reasonable R:R ratio.
May the best plan wins!!
Right Angled Descending Broadening WedgeChart Story here is.. from a Ascending broadening wedge the bears took it down.. and there was a great chance that a Bullish divergence would appear.
It did... course went up and so a Descending triangle formation was there to bring the course down again. Because the price then widens a bit on the downside in a sideways move, I consider it a Right Angled Descending Broadening Wedge for now.
Besides this pattern, you could probably also make a W pattern out of it but the characteristic of the Broadening wedge is "often", that after hitting the top or bottom 2 or 3 times the price comes back halfway during a rise or fall and then breaks out.
these scenario's makes it possible to trade them but in times of macro economic uncertainties at the moment, caution is advised at all times. manage your risks at all times.
disclaimer: this is not a financial advise
DeGRAM | SILVER longA couple of weeks ago, we predicted that silver would most likely go down.
Price action went down and tested the support level.
We expect prices to go up since the market is in consolidation.
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Silver: CircuitousSilver seems to prefer things a bit more complicated, and thus has made a detour back above the mark at $21.25. However, as long as it stays below the resistance at $22.56, we still expect silver to directly continue the descent below $21.25 and into the lower orange zone between $18.78 and $16.88, where the overarching downward movement should end. There is a 38% chance, though, that silver could expand the detour above the resistance at $22.56. In that case, it should rise until the upper edge of the orange strip between $22.74 and $23.46 before resuming the descent.
DeGRAM | SILVER short!Silver is clear in the bearish trend.
Price action made a complex pullback and false break of the major resistance level.
A false break is a great signal and opportunity for a trend continuation trade.
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Silver: Whac-A-MoleYou know the arcade- and computer-game “Whac-A-Mole”, where you have to whack little mole-figures popping up randomly back into their holes? Quite similarly to these mole-figures, silver has repeatedly been popping up into the upper orange zone between $21.85 and $23.46. Now, we don’t want to whack it, as it still has some room in the upper orange zone to finish wave iv in orange. However, as soon as wave iv in orange is completed, silver should indeed move downwards to continue the overarching descent.
SILVER (XAGUSD) Update & Time to Fall 🪙
As you remember, we spotted a bearish breakout of a rising wedge pattern on Silver yesterday.
Today we see a retest.
Retesting a broken support of the wedge, the market formed a descending triangle formation on 1H time frame.
It is a solid confirmation and it may trigger a bearish continuation.
Initial target - 21.7
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My new silver idea...Based on the Fed's adamant nature on raising rates over the next two meetings, I see weakness in the silver price. But not much more.
I think the Fed pauses and possibly pivots to easing after August when the true nature of the coming recession reveals itself.
Following that I see a rapid rise in the price of silver, in a similar time frame between 2008 and 2011. However I do see silver will retaking $50/oz much quicker than it did the last time.
Then the price of silver is in no man's land and we must base our projects based on measurements of silver compared to other investments or commodities.
Silver could reverse from supportSince the 18th Aprile Silver's price has dropped almost in a straight line with a single significant green candle on the 4th of May.
Now the price is trading in the important 22 support zone and we can have a reversal at this point
The first resistance is just above 23 followed by important 24.
Buy dips under 22 can be a good strategy with negation if support falls.
Silver: JumpyWhile bears aren’t normally known to be jumpy, the bears on the silver market have just shown signs of scariness. They must have been so focused on their way downwards that they didn’t realize how close they had already come to the support at $21.98. Although they have shrunken back from this mark, we expect them to pick up courage again quickly – after all, they have been so strong and composed lately. So, the bears should push silver below $21.98 and towards the orange zone between $20.91 and $19.59, where wave iii in orange should end. Then, a countermovement should lead silver back above $21.98, where it should finish wave iv in orange before resuming the overarching downwards movement.
Silver: Tenacious B 🐻The rock band “Tenacious D” consisting of Jack Black and Kyle Gass must soon face competition, namely from “Tenacious B”. The bears on the silver market have rightfully earned this name by perseveringly dragging silver further down despite recurrent countermovement. The expression “to bear up” doesn’t exist for nothing, after all! We expect the bears to keep going and to lead silver below the support at $21.98 and into the lower orange zone between $21.39 and $20.27, where wave iii in orange should end. The following countermovement in wave iv in orange into the upper orange zone between $22.90 and $23.52 should serve as a booster for the greater downwards movement, which should then continue below $21.98.
SILVER | SHINNING RESISTANCE AHEADSILVER has bounced from its old support zone of 23.9 - 24.1, where buyers once again pushed the price higher breaking minor resistance of 24.52.
Currently price is trading above the 24.5 area and is heading towards the strong trendline resistance.
We are expecting the price to break this resistance this time and continue its upward journey towards 30 mark.
Trade your levels accordingly
Silver: Down, Boy!Silver is being a bit stubborn these days. After finishing wave (x) in blue at the lower edge of the orange zone between $27.39 and $28.66, it has generally been moving downwards. However, this movement has time and again been interspersed with upwards twitches, which have lately returned it to the mark at $25.49. Nevertheless, we still expect silver to continue its descent and to head for the support at $21.41 in the long run.
Silver has broken local trend lineSilver has broken the short-term trend line and is likely to drop as it is highly likely that this instrument will retest the weekly support before making any move to the upside.
Currently, 25.45 could give us a selling opportunity with a target @24.32
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