XAG USD ( Silver / US Dollar)
The ART of sitting ON YOUR HANDSI was not always a bear... but my arms are tired of holding these Silver Bags for over a decade. I am still bullish! In the long long term ( ;
I am still holding a longterm SILJ short position ( see previous post ) but the immediate future is not clear. Will we get an explosive rally leading up to... during... or after the FOMC? I would not bet on it. The truth is however that nobody knows. As Ray Dalio says, "He who lives by the crystal ball will eat shattered glass"
The next few weeks will provide a challenge for market timers and speculators. I expect plenty of whipsaw and broken hearts before a trend is established (bullish or bearish).
I am waiting for a break of 29.83 to become a Bull and enter Long
I am waiting for a break of 26.67 to become a Bear (a big one) and enter Short
I strongly recommend waiting for a daily close over these levels before getting to comfortable unless you are prepared to keep a tight stop and run for the hills if either of these breaks turn out to be a trap.
Until then this range (in between the two levels will provide plenty of juicy scalping opportunities for cowboys like myself. I am using the .382 Fib level 28.10 (derived from the Oct 23 Low to the High in May 24) as my guiding light and BABB (Bullish above Bearish below) in the interim with TPs at my key break levels. They will be formidable resistance/support zones until broken and proven otherwise. Happy trading!
XAGUSD / BREAKING DESCENDING CHANNEL - 4HXAGUSD / 4H TIME FRAME
HELLO TRADERS
overall , under downward pressure as long as trading below supply zone .
as long as remain below supply zone between 31.01 and 31.41 , it suggest decline to reach 30.57 , then breaking and stabilizing below it by open 4h candle expected further decline to 30.09 .
however , stabilizing above 31.41 , it indicates still continues rising to reach 31.74 and 31.96 , then stabilizing above it reach a ATH at 32.50 .
Turning Level : 31.01 and 31.41
Markets Finding Equilibrium Before FOMCAll major indexes and broad market advancing today with the US CPI/PPI combo causing some big recoveries since the post Labor Day selloff.
Momentum goes to the bulls for now until price proves otherwise. FED likely to cut 25 bps next week with more to come by end of year. It's amazing how quickly sentiment can shift like it did with Aug 1-5 and after, and again Sep 3-6 and after.
I hope you enjoy today's video. Friday's close for the day and week will be important and perhaps it's all quiet on the western front heading into FOMC next week where price can be excitable and volatile, but we'll do our best to navigate everything.
Thanks for watching!!! See you in the markets.
SILVER Risky Short! Sell!
Hello,Traders!
SILVER made a strong
Move up and Silver is now
Locally overbought so after
It hits the horizontal resistance
Above at 30.20$ we will be
Expecting a local bearish correction
Sell!
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Check out other forecasts below too!
Silver Analysis. H4 12.09.2024Silver Analysis. H4 12.09.2024
An interesting situation is fprming in silver. I haven't reviewed it for a while, but a cool pattern is forming now. The price is forming an exit to the upper boundary of the range and fixing near the margin. On the way we made accumulation and buyers' zone 28.50-28.85 in case of correction to which we can buy with targets to renew the highs. The main volumes remained at the bottom and will be a support for the price.
SILVER - Macro and Micro Outlook for 2024/2025I think we are seeing a new run in Silver about to happen on higher timeframes to be honest and I intend to be long on this when the opportunities arise. We should see next level up at $35. It has been chilling sideways for the better part of about 3.5 years I think? What a good consolidation period honestly.
Intraday - Im liking the PA we got so far in Aug/Sept and I think we can find some bullishness into Q4 and ride that. If it turns it turns, dont hang onto a dead trade obviously but the odds are in favor of upside
INVALIDATION -Breakdown below anything significant will be my invalidation and we will shelf this for another decade lmao
XAGUSD One final Low remaining.Silver (XAGUSD) has been trading within a 2-year Channel Up pattern and since its last Higher High (top) on the week of May 20 2024, it has been declining on the new Bearish Leg. The price already broke below the 1D MA100 (red trend-line) and so far seems to be replicating the Bearish Leg (Channel Down) of May - September 2023.
With the 1D RSI sequences between the two fractals also similar, we expect Silver to make one final Low just below the 1W MA50 and above the 0.618 Fibonacci level, before bottoming and rebound. Our Target is 26.500.
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Silver H4 | Overlap resistance at 50% Fibonacci retracementSilver (XAG/USD) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 28.96 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 29.87 which is a level that sits above the 78.6% Fibonacci retracement level and an overlap resistance.
Take profit is at 27.77 which is a multi-swing-low support that aligns close to the 61.8% Fibonacci retracement level.
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XAGUSD / TRADING IN THE DOWNWARD ZONE - 4H TIME FRAMEXAGUSD / 4H TIME FRAME
HELLO TRADERS
Current Market Analysis:
The market is trading below the turning level of 29.07 , and below the channel trend line at 29.38.This means the price action is currently bearish , with a downward bias , The immediate expectation is that unless the price breaks above these levels, the market could continue to decline.
Downward Conditions:
If the price remains below 29.38, it suggests that the market will continue to trend downward, Initial target for the decline: 28.10 , If 28.10 is broken, the next target would be 27.63.
The downward trend remains valid as long as the price doesn't break and stabilize above 29.38.
Upward Conditions:
If the price breaks and stabilizes above 29.38, this would indicate the beginning of a bullish reversal , The first upward target is 29.82 , If 29.82 is broken, the market could aim for the next target at 30.51 , This upward movement would only be valid if the price successfully breaches the channel trend resistance and holds above it.
UPWARD TARGET :
29.82 , 30.51.
DOWNWARD TARGET :
28.10 , 27.63.
Overlap resistance ahead?The Silver (XAG/USD) is rising towards the pivot and could reverse to the 1st support level which has been identified as a pullback support.
Pivot: 28.93
1st Support: 27.72
1st Resistance: 29.61
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XAGUSD - Silver on the rise?Silver is below the EMA200 and EMA50 in the 4H timeframe and is trading in its descending channel
If the drawn upward channel is maintained and its valid failure is not achieved, silver's upward path will be possible up to $29
If silver rises and falls within the specified supply zone, we can look for silver sell position
Silver H4 | Potential bullish reversalSilver (XAG/USD) is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher.
Buy entry is at 27.77 which is a multi-swing-low support.
Stop loss is at 27.00 which is a level that lies underneath an overlap support and the 78.6% Fibonacci retracement level.
Take profit is at 28.96 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
SILVER (XAGUSD): Long From Support
I see a nice buying opportunity on Silver.
The test of a key intraday/daily structure support triggered a strong bullish reaction.
A double bottom was formed, and we see a bullish movement above the neckline
this morning.
I think that the price will keep growing at least to 28.61
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XAUUSD potential Buy trade after the breakout of the channelXAUUSD has bounced off a support level and reached the key price level of 2500. On the daily timeframe, two long-tailed bars have formed, indicating a strong double rejection of the support. If upcoming news does not negatively impact gold, the market could be positioned to test its all-time highs. On the 1H chart, the price action has broken and closed above the downward channel, suggesting that the recent movement was a pullback and signalling a possible end to it. The market may retest the swap zone before pushing to higher levels. The target is the resistance at 2527
Silver Major Price Levels and Trend InsightsWelcome to my latest Silver (XAG/USD) technical analysis using Gann grid lines! If you're new to Gann analysis, don’t worry—I'll break it down in simple terms.
What Is Gann Analysis?
Gann analysis is a method developed by legendary trader W.D. Gann. It combines geometry, time, and price to identify key levels in the market where price action is likely to react. In essence, Gann theory suggests that markets move in predictable cycles and that certain price levels are more significant than others.
How Does This Gann Chart Work?
In the chart you see above, I've applied Gann grid lines, which create a web of horizontal, vertical, and diagonal lines across the chart. These lines represent price-time relationships and help identify critical levels where Silver’s price might find support or resistance.
Each horizontal line corresponds to specific price levels (in US dollars), while the diagonal lines help capture the trend and potential pivot points.
Key Price Levels
Here’s a breakdown of the most significant levels that you can see marked on the chart:
Resistance Levels:
427.5° = $33.49 (Strong overhead resistance).
405° = $32.05.
382.5° = $30.66.
360° = $29.29.
Support Levels:
337.5° = $27.95 (Current level, a key area to watch).
315° = $26.64.
292.5° = $25.37.
270° = $24.13 (Major support zone).
The numbers next to these levels represent angles or "degrees" in Gann theory, which are important for measuring cycles of price and time.
What Do These Levels Mean for Silver?
Currently, Silver is trading around the 337.5° level ($27.95). This level could act as strong support, and we could see a potential bounce if buyers step in. However, if the price breaks below this, the next significant support level is at 315° ($26.64).
If Silver holds the 337.5° level: We might see a move back up towards $29.29 (360°), followed by $30.66 (382.5°) if the bullish momentum continues.
If Silver fails to hold 337.5°: The price could drop towards $26.64 (315°), which is another strong support zone.
Diagonal Trendlines and Time Cycles
The diagonal lines crossing the chart represent Gann angles, which help forecast turning points in the trend. For example, when price interacts with these lines, it often leads to shifts in direction or momentum. These angles can give clues as to when a price change might occur in relation to both price and time.
Conclusion
In summary, Silver is at a key inflection point. A bounce from current levels could take the price higher toward $29 and beyond, while a break below $27.95 might lead to further downside. Using Gann analysis helps traders understand not only key price levels but also the timing of potential moves, giving a more complete picture of market dynamics.