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Xagusdlong

A second Chance to Buy in SilverMidterm forecast: 15.60 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: The RSI bounced from the support #1 at 48 and it prevented price from more losses. A trough is formed in daily chart at 14.89 on 07/05/2019, so more gains to resistance(s) 17.20, 18.10 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 67. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (15.60). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT , you have a second chance to buy above the suggested support line (15.60). Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Trade Setup: We opened 6 BUY trade(s) @ 15.21 based on 'Valley' entry method at 2019.07.10. Total Profit: 492 pip Closed trade(s): 144 pip Profit Open trade(s): 348 pip Profit Closed Profit: TP1 @ 15.30 touched at 2019.07.11 with 8 pip Profit. TP2 @ 15.60 touched at 2019.07.16 with 38 pip Profit. TP3 @ 16.20 touched at 2019.07.18 with 98 pip Profit. 8 + 38 + 98 = 144 pip Open Profit: Profit for one trade is 16.38(current price) - 15.21(open price) = 116 pip 3 trade(s) still open, therefore total profit for open trade(s) is 116 x 3 = 348 pip All SLs moved to Break-even point. Take Profits: TP4= @ 17.20 TP5= @ 18.10 TP6= Free
FOREXCOM:XAGUSDLong
by ForecastCity
2
Silver Elliott Wave View: Impulse Move Favoring More UpsideSilver rally from May 28, 2019 low is unfolding as an impulse Elliott wave structure favoring more upside to take place. The near-term pullback to $14.87 low ended wave ((ii)). Up from there, the metal made a strong rally to the upside and ended wave ((iii)) at $16.58 high. The internals of that rally unfolded in lesser degree 5 waves structure where wave (i) ended at $15.31 high. Wave (ii) pullback ended at $15.03 low, wave (iii) ended at $16.46 high. Then pullback to $16.22 low ended wave (iv) and a rally to $16.58 high ended wave (v). Down from there, the 3 swings pullback to $16.04 low ended wave ((iv)). While above there, wave ((v)) remain in progress looking to extend higher 1 more time before wave 3 ends & pullback in wave 4 takes place in 3, 7 or 11 swings. The minimum extension area for wave ((v)) of 3 i.e inverse 1.236%-1.618% extension area comes at $16.72-$16.93. From where the metal can potentially see a pullback in 3, 7 or 11 swings before more upside can be seen. We don’t like selling the stock & expect intraday buyers to appear in 3, 7 or 11 swings within wave 4 pullback at a later stage. As far as a pivot from $14.88 low stays intact.
FX_IDC:XAGUSDLong
by Elliottwave-Forecast
2
SILVER - Easy RiderWhile Gold printed a big rally in May and June, Silver was just lagging. The XAUXAG ratio near to all time highs. I think it's time for Silver to catch up and make a huge rally in the second daily cycle of this precious metal intermediate cycle. Silver's ICL occured on the 20th of May while Gold's ICL was on the 2nd of May, so it printed the ICL 3 weeks later than Gold. It seems the DCL was just a flag on the Silver chart. The XAUXAG ratio should drop down to 86 in the following weeks. Silver might test the 17-17,5$ zone by September overperforming Gold in this second daily cycle.
FX:XAGUSDLong
by chartwatchers
5
WHAT THE HELL IS WRONG WITH SILVER?The bull run in the precious metals complex which officially ended in Oct 2011 dragged the prices of the white metal to up to 50USD per ounce. That was a staggering 393% growth which took the prices from 10USD to 50USD however from there we have seen more than 70% correction in silver prices. The interesting part is even when gold is able to break it's 6 years long term resistance which stands at $1400, the Silver chart still looking dead and the gold-silver ratio is currently trading at 93 which is the highest in 30 years, so the question is what is really happening with silver? 1-We have already informed you that silver is known as a proxy for gold. Silver is known to be much more volatile than gold that's why it often is seen that when gold becomes expensive more and more investors tend to invest in silver in order to gain significant profit due to its high volatile nature however Recent report suggests that many investors are now looking towards alternative currencies such as bitcoin. 2-when you try to look at the 100-year historical chart of Gold vs silver prices you will be able to find two major bulls runs within the precious metal sector. The first one happened in 1971 which is known as a Nixon shock. The Nixon shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, in response to increasing inflation, Nixon Shock is a phrase used to describe the aftereffect of a set of economic policies touted by former President Richard Nixon in 1971. Most notably, the policies eventually led to the collapse of the Bretton Woods system of fixed exchange rates that went into effect after World War II. From 1971 to 1973 The gold prices surged in a significant manner(36USD per ounce to 130USD per ounce) however silver underperformed gold within the years and rose only from 1.40USD per ounce to 2.01USD per ounce, It took almost 2 years for silver to outperform gold when new money flooded into the silver market. After that Silver prices rose from 1.40USD to 36USD which was an astonishing growth compared to the yellow metal. Second major bull run occurred after housing market crisis on 2007, It took few years for silver to outperform gold as we have witnessed in 1971 however the only difference this time was that outperformance of silver was significantly higher compared to 1971. Please note-We have not mentioned Jp morgan manipulation in the silver market as that would imply writing a book in itself Ending this article with a quote-“History doesn’t repeat itself but it often rhymes,”
OANDA:XAGUSD
by GoldSilverAnalyst