A Short Leg The bullish momentum for silver is weakening, making a downward move likely. This decline could bring the price down to around 31 temporarily before a potential rebound. We closely monitor the strength of the downward movement and analyze candlestick patterns before considering a long position at the support line.
SILVERCFD trade ideas
Silver Long but expecting a pullback at 31.8-32.Will History repeat itself,? a pull back before the impulse is anticipated based on the previous weeks market behavior.
We are expecting a short position from friday's last 1H candle going around 31.8-32. Then bounced back from there.
Let's see how it play today.
Happy trading.
www.tradingview.com
"Silver is on the brink of entering a bearish wave!"On the daily timeframe, silver, after completing five upward waves, is likely to enter an ABC corrective phase. Only if the resistance levels of 32.500 and 33.700 are maintained, we can expect silver to move towards wave C, with a target around 28.000.
Slivers tipping pointBullish Channel Holding
For Now Silver remains in a bullish trend, respecting the channel structure. However, the 50% retracement level has acted as strong resistance, leading to a bearish engulfing candle as the week closed both on the daily and 4 hr timeframes.
Potential Pullback Incoming?
A bounce may be seen this week, at the channel trend and support.
A possible Head and Shoulders pattern is forming at the peak, alongside trendline resistance and a bearish engulfing candle on the right shoulder. This suggests a short-term retracement before the next move.
Support Holding? If support holds, at the current poi we can look for bullish continuation confirmations.
The trendline and engulfing zone will be the first reaction area to watch. If rejected, shorts into the next demand zone and previous monthly high could play out.
Break and Retest?
Failing to hold support within the channel could confirm a market structure shift. A break and retest of the support zone would confirm a stronger bearish continuation.
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Silver UpdatePrice is getting blocked out by the mean and a growth in sellers is looking to turn price back to $31.60
If that level fails we can see price pulling towards the high volume area to test lower liquidity/trendline support.
Price action is also at a lower high showing weakness in buyers at this main pivot.
XAU_USDSilver price is trading in a symmetrical triangle pattern and not able to break the $33 resistance zone.
Price looks bearish temporarily because it has broken our first major Trendline support but I believe the bulls to hold the next major Trendline support and keep silver in the uptrend otherwise.
But for now price has to retest the Trendline and $33 resistance zone once again to know if the breakdown will continue or if it was just a shakeout consolidation.
Fingers crossed. Any Direction it goes I'll be sure to keep you updated 💪💯
SILVER corrective pullbackThe Silver (XAGUSD) price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The price action is creating a sequence of higher highs and higher lows. The recent consolidation appears to be a corrective pullback.
The key trading level is at 3197, which is the current swing low. A corrective pullback from the current levels and a bullish bounce back from the 3197 level could target the upside resistance at 3253 followed by the 3285 and 3316 levels over the longer timeframe.
Alternatively, a confirmed loss of 3197 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 3166 support level followed by 3130.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Silver H8 AnalysisBuyers were very much in charge of the market until October 2024 last year when we saw Silver peak around $34.85
From there we saw a decline as sellers took price to $28.76 over the next few months into December 2024.
With price having now broken out of the triangular correction and respecting a bullish trendline, buyers are now firmly in charge until further notice.
Silver INTRADAY bullish continuation energy build up The Silver (XAGUSD) price action sentiment appears bullish, supported by the longer-term prevailing uptrend.
The key trading level is at 3244, swing low. A corrective pullback from the current levels and a bullish bounce back from the 3244 level could target the upside resistance at 3340 followed by the 3400 and 3450 levels over the longer timeframe.
Alternatively, a confirmed loss of 3244 support and a daily close below that level would negate the bullish outlook opening a way for a further retracement and a retest of 3227 support level followed by 3197 and 3140.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
SILVER: Three days breakout traders long in the marketHello everyone and welcome back to my channel! Please do not forget to support my analysis, leave me a comment and feel free to share your opinion, critics are always well accepted if not offensive!
Silver, a market that I don't typically trade that much, but sometimes it setups perfectly for interesting trades. Currently this template can lead to a strong short move if reacts how I could expect.
Before going deeper inside the analysis, as always, this is not a forecast, guessing the direction is pretty much 50/50, especially with the trading instruments we have. What I do and my "forecasting", is about the setup I'm interested in, if setup correctly.
"Chasing market movements and position yourself in a market that is potentially going to explode, are two completely different things", hope it makes sense!
Silver it's may be building a great pump and dump scenario, which can fail during the major red news today, 9:45am NYT USD PMI, or during the upcoming week, but let's see the logic behind.
Previous week, the last Tuesday placed the low, Friday placed the high, weekly and monthly level, creating as well a "box" where I'm interested to see the behaviour of price once will reach the extreme.
Monday was pretty much a narrow range, nothing special really happened, a part for triggering short breakout traders in the market.
Tuesday, Wednesday and Thursday the market proceeded breaking higher and higher, triggering breakout long traders in the market for 3 days in a row. Apparently we have still bullish strength, but don't forget that we are still inside a monthly "box".
Today, I would say the market is in "narrow range" as well, but it's a classic situation when major red news are on schedule, however, a great bulk of volume looks like be trapped up high.
Thesis...
My main thesis is a short move, not necessarily today, but understand that major red news PMI can drastically be volatile and complete the move (in this scenario I may won't have a good fill to join this short)
As well, what I could expect, is the market pumping back up into the current monthly high, failing the breakout and starting the bearish backside process during the upcoming days, eventually reinforcing the thesis with a first red day signal.
I will definitely be following and keep this market in watchlist.
But what about a bullish move?
The only bullish setup I'm willing to take, is a scalp long back into the monthly high, if a buy low setup can be identified, targeting at maximum that level, with no huge size considering I would be buying almost into the high, but still a scalp, well managed, can be a lucrative opportunity.
During the NY session and upcoming days I will be updating this post, so don't miss it!
Gianni