Monthly Reverse H&S and Re-Entry on weekly break trend line Monthly Reverse H&S and Re-Entry on weekly break trend line
XAGUSD trade ideas
SILVER (XAGUSD): Bullish Rally Continues
Silver keeps rallying like crazy.
The price was rapidly growing the entire last week.
It managed to violate a significant horizontal daily resistance
and close above that on Friday.
With a high probability, the market will keep growing and reach 31.4 level soon.
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Not chasing silver higher given Fed may disappoint Silver looks bullish, breaking through downtrend resistance last Friday with ease as traders ramped up Fed rate cuts bets. However, with over 120 basis points priced in 2024, that leaves silver vulnerable to a reversal should the Fed not deliver on those expectations. Therefore, rather than buy the break, I’d rather see what the Fed does before entering a trade.
Should the price move back towards support between 30.157 and former downtrend, it will provide a decent level to build setups around.
If the zone were to hold, you could buy with a stop below the downtrend targeting $31.754 or multi-year high of $32.50 set in May. Alternatively, if it were to reverse through the zone, you could sell with a stop above the downtrend for protection. Potential targets include the 50DMA or $27.71.
Momentum remains higher with RSI (14) and MACD generating bullish signals. However, from a fundamental perspective, if US yields push higher before or after the Fed, it may lead to a stronger dollar and renewed headwinds for silver.
Good luck!
DS
XAGUSD, Elliott wave analysis■Outlook of XAGUSD on 3Days chart.
There have been no changes since the last update.
I think we are in sub-wave (3) of wave (iii).
If it can break through a channel line (Orange), it will probably become bullish, and wave (iii) will probably become a 3rd wave extension impulse.
Last time, my idea:
Aug 5, 2024. Middle-term analysis.
SILVER | THE BIGGEST CUP & HANDLE OF ALL TIME!Apple’s Cup and Handle pattern in the early 2000s is often cited as one of the most significant. After a prolonged downtrend, Apple formed a large cup with a handle from 2000 to 2005, which, after breaking out, has continued to appreciate to this very day. However, Apple's pattern is nothing compared to the current Cup & Handle pattern that exists in silver, whether in size or price.
I truly believe that silver is currently the most undervalued asset and will not only attain higher prices than most can imagine but will also rapidly begin to appreciate against gold, which currently has a ratio of 83.75 to 1. This ratio is irrational and unsustainable, as gold and silver are typically mined at a ratio of around 10 to 1. Even current U.S. Treasury Mint coins—Silver Eagles and Gold Eagles—have a current exchange rate of 50 to 1 at face value. Historically, under the gold standard and the Coinage Act of 1834, the ratio was set at 16 to 1.
Although this will not happen overnight and could take a decade or more to come to fruition, the unnatural and irrationally low price of silver is coming to an end. The overinflated gold-to-silver ratio will continue to fall as price manipulation ends and true price discovery begins.
Silver, weekly chartif this finally manages to get rid of the 30 usd, a good period is coming. FOREXCOM:XAGUSD
XAGUSD VIew!!Front-month gold futures rose 1.2% to a new record of $2,581.30 an ounce, and many analysts are now calling for a higher upside for gold prices than initially forecast. "Today's market action suggests a new upward leg for gold prices is underway," says Peter Cardillo of Spartan Capital Securities. Higher gold prices stem from the belief that a rate cut is coming next week--making non-interest bearing assets more attractive. SPDR Gold shares are also at a new high, with the contract up 1%. (kirk.maltais@wsj.com; @kirkmaltais)
SILVER The Target Is DOWN! SELL!
My dear friends,
Please, find my technical outlook for SILVER below:
The price is coiling around a solid key level - 30.720
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 29.587
Safe Stop Loss - 31.354
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
Silver updateExpect small corrections around 1.30 for possible more buying opportunity
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Top 5 Weekly Trade Ideas #2 | Silver Bull FlagSilver is another interest rate sensitive ticker with a bullish pattern heading into next week's fed decision. It has a nice bull flag on the 1D. It did have a fakeout below, but the lower trendline is still being respected and it closed at the top end of the flag last week. If it breaks above, I'd expect continuation to at least 32.50.
Final target will be around the 37 area based on the flag pole length depending on where the breakout occurs. I'll look to enter longs on a break, or ideally a retest after. Stop loss will be back below the upper trendline if it breaks above.
Lower rates means Silver to 40?The US dollar is trending lower.
Rates are expected to be lowered.
Unemployment number rising.
Presidential election has candidates talking about give aways.
War is still happening.
China is in deflation.
Banks are seeing credit card delinquency's rise.
There are 2 "technical" patterns implying a 40 ish silver price if we continue to break out. And remember all times highs are at 50 ish.
The recent weeks price action is encouraging and is implying breakout higher.
twitter/x is full of "silver squeeze" chatter again. good to see the buzz start up again.
Be safe.
XAGUSD: A Bullish Perspective and Top-Down AnalysisSilver (XAG/USD) is showing a bullish trend, supported by several key fundamentals. The ongoing global economic uncertainty and geopolitical tensions are driving investors towards safe-haven assets like silver.
Additionally, the increasing industrial demand for silver, particularly in the renewable energy sector and electronics industry, is contributing to its positive outlook. The weakening US dollar is also playing a role in boosting silver prices, as the precious metal becomes more attractive to international buyers.
I'm utilizing probabilities on my charts to get positioned into longs for Silver.
Let’s get into the details of my analysis.
6M:
1W:
1H:
SILVER Resistance Ahead! Sell!
Hello,Traders!
SILVER keeps growing
And it is now locally
Overbought so after
The price hits the horizontal
Resistance of 31.75$
We will be expecting a
Local move down
Sell!
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Check out other forecasts below too!
SILVER (XAGUSD): Bullish Rally Confirmed
Silver will continue next week after a confirmed breakout of a
key daily horizontal resistance and a candle close above that.
The price is now heading towards 31.24 resistance.
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SILVER RISKY SHORT|
✅SILVER is going up now
But a strong resistance level is ahead at 31.77$
Thus I am expecting a pullback
And a move down towards the target at 30.45$
SHORT🔥
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SILVER: Local Correction Ahead! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 30.33672$
Wish you good luck in trading to you all!
RUN UP THE SILVER & GOLD BUYRetail traders are retail traders
Nothing much to say. I get shadow banned regardless cause I'm always too on time. TT
XAGUSD / BREAKING DESCENDING CHANNEL - 4HXAGUSD / 4H TIME FRAME
HELLO TRADERS
overall , under downward pressure as long as trading below supply zone .
as long as remain below supply zone between 31.01 and 31.41 , it suggest decline to reach 30.57 , then breaking and stabilizing below it by open 4h candle expected further decline to 30.09 .
however , stabilizing above 31.41 , it indicates still continues rising to reach 31.74 and 31.96 , then stabilizing above it reach a ATH at 32.50 .
Turning Level : 31.01 and 31.41
SILVER - LongSilver is showing great upward momentum at the moment and has broken a downward move that it was moving in for a few days. The stochastic, MACD and EMA's are confirming the potential upward move.
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XAGUSDPair : XAGUSD ( Silver / U.S Dollar )
Description :
Completed " 12345 " Impulsive Waves and " ABC " Corrective Waves
Break of Structure
RSI - Divergence
Demand Zone
Fibonacci Level - 61.80%
Sell OpportunityThe pair presents an enticing Sell opportunity at the price of 30.100, with favorable potential for profit.
Targets:
Primary Target: 28.900
Secondary Target:27.650
Breakout Scenario:
In the event of a breach above the Resistance level of 30.475, indicative of a bullish breakout, the target price is anticipated to ascend towards 31.000.
Technical analysis indicates a notable Selling sentiment prevailing in the market at the present price level.
Fundamental factors align with the proposed Sell strategy, suggesting upward pressure on the Silver pair.
Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements.
