Silver Surge: Master Price Action for Explosive TradesFXOPEN:XAGUSD AlexGoldHunter Technical Analysis Using Price Action Techniques
Key Levels and Patterns
Support Levels:
Current Support: 30.5314
Lower Support: Around 29.5000
Resistance Levels:
Current Resistance: 31.3102
Swing High: Around 32.0000
Strong High: Around 32.5000
Fibonacci Retracement Levels:
0.786: 31.8839374
0.705: 31.714095
0.618: 31.5385462
0.5: 31.29595
0.382: 31.0535386
Order Blocks (OB):
Specific OB levels are not provided, but they are marked on the chart.
Fair Value Gap (FVG):
Specific FVG levels are not provided, but they are marked on the chart.
Change of Character (ChoCH):
Multiple ChoCH points indicate shifts in market sentiment.
Break of Structure (BOS):
Multiple BOS points indicate significant changes in market structure, suggesting potential trend reversals or continuations.
Buy Strategy
Entry:
Look for a bullish reversal signal near the support level at 30.5314 or within the FVG zone.
Confirmation with a bullish candlestick pattern (e.g., engulfing, hammer) near the support level or FVG.
Stop Loss:
Place below the recent swing low or below the support level at 30.5314.
Take Profit:
Initial target at the previous high (31.1978 - p1D High).
Further targets at 31.3102 (current resistance) and 31.5385462 (0.618 Fibonacci level).
Sell Strategy
Entry:
Look for a bearish reversal signal near the resistance level at 31.3102 or within the OB zone.
Confirmation with a bearish candlestick pattern (e.g., shooting star, bearish engulfing) near the resistance level or OB.
Stop Loss:
Place above the recent swing high or above the resistance level at 31.3102.
Take Profit:
Initial target at the support level at 30.5314.
Further targets at 30.0000 (psychological level) and 29.5000 (next support level).
By using these price action techniques, you can identify potential buy and sell opportunities based on key support and resistance levels, trend analysis, and indicator confirmation. Remember to practice good risk management and stay updated with market conditions. Happy trading! 📈📉
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