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Xagusdshort

Silver Sets To Complete A Five-wave Impulse PatternKindly support this analysis with your likes and comments! The Silver 4 hourly chart reveals an incomplete Elliot Wave impulse sequence from wave (b) high on the chart. It's labeled i-ii-iii-iv-v. Wave iii is the longest wave and its sub-wave of wave iii is also visible. According to EW theory, once the corrective phase in wave iv is completed an impulse move will follow it in wave v . In Silver's case, the correction unfolded as a double zigzag and also terminated around 50% Fib level. Yesterday daily price action also close as a bearish engulfing bar. With all the confluence, we can expect Silver to head lower in the short-term. The setup will be considered invalid if the red line on the chart is breached. What's your view on Silver? Let me know in the comment! Good luck on the chart, Veejahbee.
OANDA:XAGUSDShort
by Veejahbee
2
Silver - At the request of the publicSilver is not an easy market. It depends of many factors. Precious metal so most of the time follows gold. Industrial metal so it follows stocks as well. And as most assets the dollar determines its movement. Right now I think the significant part of silver damage in this intermediate decline is done. The decline started at 30$ and it dropped down to 22$. It was nearly 27% move. If you take a look at the XAUXAG ratio: you will notice that not so much left for XAUXAG to tag the 200 SMA. I don't think it will go much higher than that level. It might or might not tag the 200 SMA. For an outperforming silver decline we need the XAUXAG ratio trending higher . If it's going sideways or drops gold's decline will outperform silver's decline. That's the reason I suggested to switch from silver shorts to gold shorts. I think the gold drop from this point will be more severe ... Even if silver's drop slows down I still think we are going to tag the 200 SMA in October. There is also a good chance that silver will backtest the breakout level at 18.7$. Watching the weekly charts the maximum where this retrace can go is the 100 and 200 SMA at 17$. I don't see any realistic chance that silver will go lower than 17$ . JPM likes to cause a flash-crash in silver before the bull trend continues. If you have a short position I would set a take profit between 17 and 18$. If an overnight crash is coming better to take profit with the banksters...
OANDA:XAGUSDShort
by chartwatchers
4
Silver to FALL!After the steep fall Silver tested the Local Resistance , though was rejected at the 0.236 FIB level and after the slight pullback broke the line where we established the Local Support line. The price has recently been rejected by the Upward channel's midline and we can identify perfect Hanging Man pattern that suggest that the trend reverse hence FALL ↘️ will occur. The price is going to decline and in addition to the Local Support we have 100 EMA acting as one since the beginning of May! If you like the idea PLEASE don't forget to hit the LIKE🤍 🖤💙button and share your thoughts here in comment ⌨️! Appreciate your time and good luck!
FOREXCOM:XAGUSDShort
by Alexander_Harford
7
Silver Struggling at 100 Month SMA (quickpost)Pretty simple post, since June 2014 silver has struggled to reach the 100M SMA and every attempt or approach so far has sent the price action ultimately to the black trend line. Most recent was in spectacular fashion. The MACD histogram is becoming one of my favorite indicators because hidden bearish divergence helps to suggest that the MACD itself will have a cleaner break of the signal line or cross below zero (in the bearish scenario). Perhaps it is my optimism and greed here, but I am hoping for a busted falling wedge pattern where the price action falls below the trendline. Bulkowski considers that a great profit opportunity for when one goes long. thepatternsite.com As I mentioned elsewhere I am looking for improvements to my system to help me reduce by time in a trade till it performs and also looking to steady my hands once I am in a trade so I can let my winners run. The blue shows where the Volatility stop (calculated at the Daily open,not close) signaled a potential consolidation and support because there were no candle closes below the VSTOP. Likewise the orange areas show that the VSTOP is acting as resistance and we could be in distribution before leg down. I have done plenty of posts on price action and volume action and my general order of precedence is price action, then volume action, then other indicators. I have been in my short ETF for a couple of week now, somewhat patiently holding waiting for this trade to perform. As it stands currently, i would have been using the 100M SMA & VSTOP combo as my entry and not the entry I had use earlier. There is the MACD, which if I am correct would be having a failed cross. Looking for reversals is very high risk and I have the psychological scars to show for it. But there is also a great profit motive and I am getting really close to a workable system. If I am wrong I take my losses on a clear close above the VSTOP and 100M SMA and decide what to do then.
COMEX:SI1!Short
by This_Guhy
9
Silver Volume, Volatility Stops, and 9Season Rainbow.The silver volume action is clearly beginning to tighten since last July and while I would not recommend doing strict TA on the OBV with EMAS its clear that eventually this triangle with have to break one way or the other. the OBV going sideways is a theoretical option but with the price action struggling against the 400W simple moving average and the divergences I have gone over until I am sick of them, this formation needs to break one way or the other. My assumption is this will break to the downside and price action will consolidate for a while at the 1000W SMA as it did before on multiple occasions them we will proceed down to the 1,500. The linked post will show the macro and micro timeframes and situation leading to this move. I have run into the repeated issue where my charting has gotten better than my stop management and take profits and so while I have had some really great entries I have left lots of money on the table by not letting my winners run. Further that, timing is also an issue, especialy with leveraged ETFS as the underlying asset can chop sideways but the derivitive chops in a downward direction. You cannot just accumulate a leveraged short ETF. To help myself with that I have demoted myself to using some dummy indicators which require no more effort than just picking a time frame and punching the numbers into my stop loss. The trade is on DSLV. The 9 seasons rainbow uses some sorta analysis to set a color based on different time frames. blue shows that a floor is being set (if you see fuscia it meas the floor became a trap floor, oops). The light read shows a weak bear market. lower time frames being blue or light read mean I should look for reversal. I am in my trade. I have been looking at getting my entry on near 24.7 assets like futures or crypto on the 12h chart, but looking for my exit on the 1D chart. I like me some swing trades. If DSLV returns to its resistance trend line I should be able to pull a 4.5x out of this trade here shortly. Fingers crossed. I will flip from a trading point of view to an investor when I see silver against this decade long trend line with monthly VStops beneith it. I'll be accumulating then, that is for sure.
COMEX:SI1!Short
by This_Guhy
5