SILVER downtrend setupprice direction: DOWNTREND
potential target price: 22.90
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Silvershort
Silver could dropIn yesterday's comment I said that 24.40-24.50 is the line in the sand for Silver and as we can see from the chart, XagUsd stopped its ascent just under this level.
Similar to Gold we can have a correction also here and a drop under 24 should clarify things.
23.50 and 23.00 could be good targets for bears with 1:3 R:R in the case you target the later.
On the other hand, a break above 24.50 would call for a 25 zone test (trend line)
XAGUSD Silver Welcome back guys
Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not Financial Advice.
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Previous 3 Months silver in a channel path you can see that in the graph, if not break the resistance red line on the channel, you can take the sell shot
SILVER
STOP LOSS 26.00
SELL LIMIT 25.40
TAKE PROFIT1 24.30
TAKE PROFIT2 23.30
TAKE PROFIT3 23.30
Good Luck,
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Enjoy The Trading Guys
Silver- should be sold above 25Like its bigger brother, Gold, Silver took a punch last Monday and the price dropped more than 10% in just one day.
Once it hit the ascending trend line Silver started to recover and managed to close the week above 24.30-24.50 congestion.
XagUsd remains heavy though, and I expect a new leg down soon.
I will look to sell rallies above 25 zone and only a daily close above 26 would change my bearish outlook
Silver- under 20 till year's end?Like gold, silver fell aggressively Monday after the vaccine was announced.
The price stopped falling just under 24 and into the uptrend line support, recovered some of the losses after and now is consolidating.
The chart structure is very bearish as long as the price stays under 25 and I expect it to break under support.
Such a break could drastically accelerate losses and we can see Silver dropping under 20 figure.
A sell trade with a SL above 25 could have a GREAT R:R of at least 1:5
SILVER testing the 0.382 fib level 🦐SILVER after hitting and attempt to break the daily resistance area at 25.5000 created a sharp bearish leg.
The price hit the lower trendline of the minor ascending channel and started a retracement move.
Now the market hit the 0.382 fib level and IF the price will break and close below the support structure and consequently break the channel, we will set a nice short order according to Plancton strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
SILVER XAGUSD analysis 05 Nov 2020Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of SILVER
SILVER XAGUSD analysis 05 Nov 202 0
I hope my analysis will help you in your trading best of luck
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