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Xagusdlong

Silver testing major resistance, potential drop from here!Silver (XAGUSD) is testing major resistance at 16.63 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a strong reaction could occur at this level to push price down towards 16.38 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension). We can see our long term descending resistance line add a lot of bearish pressure to our idea. RSI (21) sees a long term corresponding descending resistance line hold price down really well too. Only a break above this descending resistance line would be a precursor to a larger recovery in silver. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver now testing strong support, watch for a potential bounce!Silver is now testing major support at 16.63 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 16.96 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support at 7% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
Silver is testing major resistance,watch for potential reversalSilver has been rising strong and is now testing major 50% resistance at 16.91 (Fibonacci retracement, Elliott wave structure, horizontal swing high resistance) and a strong reaction could occur at this level to push price all the way down to 16.48 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
2
Silver right on major resistance, watch for a potential reversal Silver is now testing major resistance at 16.56 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, Elliott wave corrective structure) and a strong reaction could occur at this level to push price all the way down to 16.19 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver testing major resistance, watch for bullish move Buy above 17.31. Stop loss at 17.16. Take profit at 17.48. Reason for the trading strategy (technically): Price is now testing major resistance at 17.31 (Fibonacci retracement, horizontal overlap resistance) and we require price to close nicely above this level before triggering a bullish move that should push price up to at least 17.48 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) sees an ascending support line hold up our bullish move really well.
FX:XAGUSDLong
by MEX_Exchange
Silver hovering right above major support,watch for bearish moveSell below 17.34. Stop loss at 17.48. Take profit at 17.11. Reason for the trading strategy (technically): Silver is now hovering above 17.34 major support (swing low support, Fibonacci retracement, ascending support) and a clean break of this level would trigger a bearish move to drive price down to at least 17.11 support (Fibonacci retracement, horizontal overlap support). RSI (34) sees an ascending support line hold price up really well correspondingly. A similar break of this support line would trigger a bearish move downwards.
FX:XAGUSDShort
by MEX_Exchange
4
Silver: Wave 3 of 3 after a major swing low XAGUSD I spotted the AB=CD correction pattern on the Silver chart and built out this idea around it. I will post some more images in the comments which give more context, but essentially it seems that we are about to being wave 3 of 3 (a powerful impulse wave) in a bullish wave cycle. This wave cycle seems to be moving away from a long-term low, so could end up being the start of a major new trend. Wave counts are very subjective and often catch you out, but I do really like the AB=CD correction, which you can see here highlighted with the Fib Trend Extension tool.
FX:XAGUSDLong
by jackjamesholmes
Silver testing major resistance, prepare for a potential reversaSilver continues to test major resistance at 17.03 (Fibonacci retracement, breakout area) and a potential reversal could occur at this level. We can see that price has made a bearish exit of our long term ascending support-turned-resistance line and coupled with a bearish divergence, this could be the setup for a strong drop. RSI (34) has made a bearish exit of our long term ascending support-turned-resistance line signaling that a reversal is impending. Coupled with the bearish divergence we’re seeing vs price, this could be the precursor of a major bearish move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, prepare potentially strong dropSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. The overall momentum remains overwhelmingly bearish. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). RSI (34) has made a similar break of its long term ascending support-turned-resistance line signaling that a change in momentum is expected. We are also seeing strong bearish divergence vs price which signals that a potential reversal is impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver on pullback resistance, possible re-entry pointSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
XAGUSD : NO FEAR - PART 2Hi traders, With the barrage of negative US data we been receiving, with gold showing that this run isn't over yet, with DXY showing overall weakness against all other majors.... I'm calling long from here. Also that previous wick tells us that the bear are in control. everything else is pointing the other way. We also have a nice bounce off FIB extension from here which gives a nice technical aspect to this trade. XAGUSD LONG ENTRY : 16.97 SL : 16.858 TP : 18.57 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
FX:XAGUSDLong
by ScottMescudiForex
4
Silver has broken major support, prepare for a possible drop!Silver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017. This has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver being squeezed for a major move!Silver is seeing major resistance below 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) while an ascending support line continues to hold price up and squeeze it against this major resistance. A major move can occur in both directions in such scenarios. If price manages to break and close below our ascending support line, this could trigger a strong drop towards our major support at 16.21 (Fibonacci retracement, horizontal breakout level). It is worth noting that Gold which is positively correlated with Silver is also similarly below major resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, watch for a reversal!Silver is testing major resistance at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reversal could potentially occur at this level to push price all the way down to 16.21 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 96% and a recent bearish exit signals that further downside movement could occur on price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, possible upcoming reversal! Silver has started to react strongly off a major resistance level at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reaction could possibly occur at this level to drive price down to at least 16.21 support (Fibonacci retracement horizontal breakout level). Our next major level of resistance is at 17.64 (78.6% Fibonacci retracement, breakout resistance level). Stochastic (34,5,3) is seeing major resistance at 96% and a corresponding reaction could occur at this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver approaching major level of resistance, keep an eye out!Silver is approaching a major level of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this price to push price down to support at 15.62 (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 16.63 (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing major level of resistance at 99% where a corresponding drop could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver approaching major resistance!Silver is seeing major resistance at 16.313 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. The next major level of resistance is at 16.639 (Long term 38.2% retracement, horizontal pullback resistance) and the next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is also seeing major resistance below our 99% level and stochastic could rise to that level before having a corresponding reaction. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill