SILVER LINING marked on the chart ( green line ) we have a key support level on the monthly, weekly and daily timeframe, we can see this been re tested again as price has made a nice bearish run the past week.
So we will be in a sell until we get to this level, you have to have patience in this game otherwise it will beat you up ( I am talking from experience haha )
Xagusdlong
XAGUSD approaching resistance, potential drop! XAGUSD is approaching our first resistance at 16.50 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 15.87 (horizontal pullback support, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
XAGUSD approaching resistance, potential drop! XAGUSD is approaching our first resistance at 16.259 (Horizontal pullback resistance, 61.8% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 15.577(horizontal swing low support, 61.8% fibonacci retracement).
Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
SILVER TRADING PLAN $$$Good evening guys, I hope you are well.
On the week commencing 18th February, along with GOLD I will also be looking at SILVER for a trading opportunity.
The price has jumped marginally off the SUP2 dotted line and the rising trend-line. This confirms a potential uptrend continuation.
I will be looking at RES1 to see if the price breaks above this line or repels.
TP @ RES2 SL @15.6
Silver's time to rally!Analysis
-XAGUSD looking bullish after showing signs of reversal wherein sellers pushed price down into support and buyers stepped in and pushed price up before the daily candle close.
-The price action resulted in a daily candle pinbar setup AT SUPPORT which is a bullish sign.
-On the 1H time frame, price just broke a downtrend to the upside.
-There is also bullish RSI divergence on the 1H time frame which further eludes to price possibly reversing to the upside.
Entry, Stops and Targets
-Long Entry: 15.632
-Stop Loss: 15.491 (Set stop below the low of the daily reversal candle)
-Take Profit: 15.886 (Set target at a minimum of 1.8 times your stop depending on entry)
*Always practice good risk management and know your limit!*
XAGUSD approaching resistance, potential drop! XAGUSD is approaching our first resistance at 15.64 (horizontal pullback resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 15.55 (horizontal swing low support).
RSI (34) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
XAGUSD - Bullish Minot 5 - February Wave Counts - Part 3SILVER (XAGUSD) labeled in a bullish impulsive sequence in Intermediate (C) (blue), with Minor 1 and 2 (green) complete.
Bullish Minor 3 (green) should now commence and should be powerful.
If you like my work, please support me with a like.
More details in my signature.
Many pips ahead!
XAGUSD Approaching Support, Potential BounceXAGUSD is approaching its support at 14.89 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 15.34 (50% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its support at 1.4% where a corresponding bounce could occur.
XAGUSD approaching resistance, potential bounce! XAGUSD is approaching our first resistance at 16.10 (Horizontal overlap resistance, 50% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 15.49 (Horizontal swing low support, 23.6% fibonacci retracement , 61.8% fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
long xagusdlong xagusd
entry: 15.7
stop loss: 15.4
tp :15.95
timeframe: swing
Dear all previous metals bulls,
Lets all make a guess, is gold reaching 1300 first or silver hitting 16 ? my odds are on gold of cuz, nevertheless , for those who wanna slowplay previous metals, you can try bulling silver as an alternative to gold.
As both metals has a very high correlation coefficient for last 2 months, it is wise to long either one of them , but you may try silver as it is more undervalued than gold. ( in recent months)
Do note that that silver is just hit a 3 years low of sub 14 dollars levels in as recent as nov 2018
As for the reason why I long previous metals, you can read my other post longing gold published on the same day
Best of luck in trading 2019
XAGUSD Testing Resistance, Potential ReversalXAUUSD is testing its resistance at 15.59 (50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 14.96 (38.2% Fibonacci retracement, horizontal swing low support) may occur.
Stochastic (55, 5, 3) has reversed off its resistance at 98% where a corresponding drop may occur.
XAGUSD approaching resistance, potential drop!XAGUSD is approaching our first resistance at 15.6584 (horizontal pullback resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 14.9941 (horizontal pullback support, 61.8% Fibonacci extension, 38.2% Fibonacci extension).
Stochastic (55,5,3) is also approaching our resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
XAGUSD approaching support, potential bounce!XAGUSD is approaching our first support at 15.00 (horizontal pullback support, 23.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 15.62 (horizontal swing high resistance, 50% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (34) is also seeing a bullish exit where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
XAGUSD testing resistance, potential drop! Price is testing our first resistance at 15.21 (horizontal pullback resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong reaction could occur below this level pushing price down to our major support at 14.78 (horizontal pullback support, 100% fibonacci extension, 38.2% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
XAGUSD approaching resistance, potential drop!XAGUSD is approaching our first resistance at 15.16 (horizontal pullback resistance, 38.2% fibonacci retracement, 100% fibonacci extension, Elliot wave structure) and a strong drop might occur below this level pushing price down to our major support at 14.69 (38.2% fibonacci retracement, 100% fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.