Potential buys on SILVERLooking on daily TF, I see nothing that helps, but on 4h TF. I see break and RETEST of structure. Going to smaller TF I see conformations
XAGUSD trade ideas
Short Term Elliott Wave in Silver (XAGUSD) Looking to Turn HigheShort Term Elliott Wave View in Silver (XAGUSD) suggests cycle from 8.8.2024 low is in progress as a 5 waves impulse. Up from 8.8.2024 low, wave 1 ended at 30.18 and dips in wave 2 ended at 27.69. Wave 3 higher ended at 32.95 and pullback in wave 4 ended at 30.12. The metal extends higher in wave 5. Up from wave 4, wave (i) ended at 32.17 and wave (ii) pullback ended at 31.29. Wave (iii) higher ended at 34.26 and pullback in wave (iv) ended at 33.44. Final leg wave (v) ended at 34.86 which completed wave ((i)) of 5 in higher degree.
Wave ((ii)) pullback is in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave ((i)), wave i ended at 34.43 and wave ii ended at 34.83. Wave iii lower ended at 33.41 and wave iv ended at 34.29. Final wave v lower ended at 33.07 which completed wave (a). Bounce in wave (b) completed at 34.54 as a zigzag structure. Down from wave (b), wave i ended at 33.39 and wave ii ended at 33.97. Wave iii lower ended at 32.48. Expect wave iv rally and another marginal wave v lower to complete wave (c) of ((ii)) before the metal resumes higher. Near term, as far as pivot at 30.1 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.
XAGUSD VIew!!SPDR Gold shares turned negative in late trading, falling 0.1%. Despite losing momentum throughout the day, recent strength has come as investors add gold positions. "The retail investors have started following central banks and are increasing their allocations as evidenced by the inflow into ETFs and their increasing demand for physical gold," says Alex Ebkarian of Allegiance Gold in a note. Earlier this week, the World Gold Council confirmed increased buying of gold ETFs among western investors. Front-month gold futures finished the day down 0.1% to $2,738.60 an ounce. (kirk.maltais@wsj.com)
Silver Technical AnalysisFxNews— Silver is trading in a bull market, above the 100-period simple moving average, while the Stochastic indicator signals an oversold condition. This provides a solid bid for bulls to enter the market.
Immediate resistance rests at $33.10. The uptrend will likely resume if bulls close above this level. If this scenario unfolds, the next bullish target could be the October 21 high of $34.25.
Please note that a break below the immediate support at $33.35 would invalidate the bullish outlook.
Bearish on SilverLooking at the 4-hour chart, if we get a close below the recent HL (Wednesday, 30 Oct), I'll be going short with a SL at the Previous LH. This was attempted last Friday and failed. However, since then, it's put in an LH, so it looks more likely this time.
Keep in mind we are still in an Bullish Trend channel which I am expecting to break down in the near term as silver is well overbought atm.
If this does close below the 4hr its likley tomorrow the Daily MACD will also be crossed to the downside.
Ill have a risk to reward of around 1:2
Trade safe all!
Silver Faces Heavy Resistance: Time to Consider a Short?The price of Silver recently reached a key weekly demand zone from 2012, a level that has historically been significant in the market. Currently, the price appears to be following a similar reversal pattern to Gold, suggesting potential downside in the near term. For a clearer understanding of this correlation, check out my detailed analysis of Gold on my page, where I delve into its ongoing reversal pattern.
In the chart provided below, you’ll see my weekly analysis of Silver, highlighting this critical supply area:
View the chart here.
Market Sentiment and COT Insights
Market sentiment in Silver is still leaning bullish among retail traders, contrasting with the more developed reversal in Gold. The Commitment of Traders (COT) report continues to show strong bullish positioning among retail traders in Silver, which often signals a potential contrarian move. Meanwhile, the Forecast Indicator, which captures seasonal tendencies, is pointing towards a possible reversal in Silver during this part of the year.
Technical Outlook
From a technical perspective, Silver’s move into this weekly demand zone could mark the start of a more pronounced downtrend, aligning with the reversal patterns seen in Gold. Historically, this zone has acted as a strong resistance level, where price has struggled to break higher. As such, it’s a prime setup for a short position with a focus on capturing downside momentum.
The current setup aligns with both technical signals and the COT report’s insights, indicating that smart money may soon start to unwind long positions, adding to the potential for further declines in Silver.
Trade Setup
Given the current scenario, we’re keeping a close eye on Silver for a short setup. Key factors to watch for confirmation include:
-A sustained rejection at the current demand level.
-Divergence signals aligning with a downward move.
Further weakening in Gold, which could act as a leading indicator for Silver’s bearish movement.
Final Thoughts
The current analysis suggests that Silver could be entering a potential reversal phase, similar to what is already underway in Gold. However, it’s crucial to remain patient and wait for confirmation signals before committing to a short position.
I’d love to hear your thoughts on this analysis. Do you think Silver’s reversal is imminent, or is there more room for upside before a potential downturn? Let me know in the comments below!
SILVER Support Ahead! Buy!
Hello,Traders!
SILVER went down sharply
In a nice bearish correction
But the price will soon hit
A horizontal support
Of 32.18$ from where
We will be expecting a
Bullish rebound
Buy!
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Check out other forecasts below too!
Silver Major Support TestThis is the best thing I see in the market today. High probability that silver bounces here at least once. It's the previous swing high which has provided significant movement on prior tests. Tight stop below with a target of the recent high.
SILVER: Bullish Continuation is Expected! Here is Why:
Looking at the chart of SILVER right now we are seeing some interesting price action on the lower timeframes. Thus a local move up seems to be quite likely.
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XAGUSD LONG-ScalpingThis is a high-risk trade setup. While I believe silver has more room for a rally, I expect it may need a significant drop first—that's what my instincts say. However, based on the charts, I’ve decided to go long as the price action has been resilient and seems poised to recover from yesterday's bearish whipsaw candle. Reminder: this is a high-risk trade with 0.50% capital at risk.
XAGUSDPair : XAGUSD ( Gold / U.S Dollar )
Description :
Completed " 12345 " Impulsive Waves
Demand Zone
Bearish Channel as an Corrective Pattern in Short Time Frame
Fibonacci Level - 50.00%
Break of Structure
Mamma Mia, look at that cup & handle! (1M XAGUSD)Just look at that beauty on monthly!
Probably one of the biggest C&H setup I've ever seen.
We're going 3-digits by 2026, probably much higher after that 🚀
SILVER Sellers In Panic! BUY!
My dear followers,
I analysed this chart on SILVER and concluded the following:
The market is trading on 32.966 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 33.538
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
———————————
WISH YOU ALL LUCK
BUY XAGUSD (SILVER) - trade explained in detailTrader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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Bullish Flag Emerges: Silver Gearing Up for the Next Rally?The bullish flag on Silver suggests that the market is in a temporary consolidation phase, with bulls gathering strength for the next push. A break above the pattern's resistance could trigger a continuation rally, while failure to do so may lead to further sideways movement.
SILVER_103 2024.11.01 02:04:05 Trading Signal BUYFrankPro Signal for SILVER_103
Type: Screen
Signal: BUY
TP: 33.504
SL: 32.514
Entry Price: 32.712
Analysis for SILVER
Forecast Overall(Short-Term, Long-Term): ST= Probably Up LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Same LT=Up
ST=Up LT=Up
ST=Up LT=Up
Analysis Method(0)
Based on the provided data, I will perform a separate analysis for short-term and long-term expectations.
**Short-term Analysis (Next 24-48 hours)**
* The recent price movements show a slight correction, with silver prices extending losses for the second consecutive day, currently trading around $33.60.
* However, the overall outlook remains firm due to uncertainty over the US presidential elections and potential inflationary policies.
* Technical indicators, such as the 14-day RSI, remain bullish, indicating active momentum.
* Support levels are plotted near $32.70, $32.50, and $31.90-$32.10, which may provide a cushion for the price.
**Short-term Expectation:** The price is expected to stay the same or experience a minor correction, potentially testing the support area near $32.70. However, the overall bullish momentum may help the price to rebound and maintain its current levels.
**Long-term Analysis (Next few weeks/months)**
* The silver price surged to near $34.50 following weaker-than-expected US JOLTS Job Openings data, indicating a slowdown in labor demand.
* The horizontal support at $32.50 and the upward-sloping 20-day EMA near $32.70 suggest more upside ahead.
* The expectation for silver to recapture a fresh over 12-year high near $35.00 after breaking out of a three-day consolidation remains intact.
* Economic data, including the US Q3 GDP, PCE data, NFP, and ISM Manufacturing PMI, will influence the Federal Reserve's monetary policy and, in turn, affect silver prices.
**Long-term Expectation:** The price is expected to go up, potentially reaching a fresh over 12-year high near $35.00, driven by bullish technical indicators, supportive economic data, and uncertainty over the US presidential elections.
Result: ST=Same LT=Up
Analysis Method(1)
Based on the provided analysis, here are my conclusions for the short-term and long-term outlook for the XAG/USD (silver) price:
**Short-term Outlook (next few days to a week)**
* The price is expected to go up, but with a slight caution. The current price is struggling to clear the $34.00 resistance level, but the RSI is in bullish territory, indicating positive momentum.
* If the price breaks above $34.00, it could target the year-to-date high at $34.86 and then the October 2012 peak at $35.40.
* However, there are mixed signals from various technical indicators, and some forecasts suggest that silver might attempt to test the support area near $32.70.
**Long-term Outlook (weeks to months)**
* The price is expected to go up. Some forecasts suggest that the XAG/USD rate could rise significantly in the coming weeks and months, with a predicted price of $38.45 by the end of the week and $41.99 in the longer term.
* The overall sentiment in the XAG/USD market is estimated as bullish, with the 14-day RSI reading indicating overbought conditions.
* Geopolitical instability and fears of a recession can also drive silver prices up due to its safe-haven status, supporting the long-term bullish outlook.
Please note that these conclusions are based on the provided analysis and should not be considered as investment advice. The silver market can be volatile, and prices can fluctuate rapidly due to various market and economic factors.
Result: ST=Up LT=Up
Analysis Method(2)
Based on the provided analysis, here is my assessment of the expected price movement of Silver (XAG/USD) for both short-term and long-term:
**Short-term (next few days):**
* The recent surge in silver prices was followed by a two-day correction, which might be a normal pullback after a strong move.
* The technical analysis suggests that silver aims to recapture a fresh over 12-year high near $35.00, indicating a potential upside.
* However, the upcoming US economic data releases (US Q3 GDP, PCE, NFP, and ISM Manufacturing PMI) may cause short-term volatility and potentially impact the price.
* Given the current bullish momentum (14-day RSI in the 60.00-80.00 range) and the horizontal support at $32.50, I expect the price to stay around the current level ($33.60) or slightly increase in the short-term.
**Expected short-term price movement:** Slightly Up or Sideways
**Long-term (next few weeks/months):**
* The overall market sentiment remains firm, driven by uncertainty over the US presidential elections and the potential for protectionist policies and inflation.
* The expectation of former US President Donald Trump returning to power supports the demand for safe-haven assets like silver.
* The technical analysis suggests a potential breakout above $35.00, which could lead to further gains.
* Considering the long-term bullish trend and the supportive market sentiment, I expect the price to increase in the long-term.
**Expected long-term price movement:** Up
Result: ST=Up LT=Up
SILVER: Market Is Looking Down! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 33,21661$
Wish you good luck in trading to you all!
SILVER Buy Opportunity until 35!Hi Everyone!
Thisis Silver! And I have a buy there where you can see for a potential BULL RUN.
SILVER: Move Down Expected! 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 33,92164$
Wish you good luck in trading to you all!
Silver is Bearish.I am looking forward to see how this setup is going to unfold for i see a Sell to buy continuation structure.
Happy trading.
Silver Wants a TrampolineThe bright green is what I foresee. A solid reversal after a decent correction. I see $36 as the next average level for Silver. If the markets turn more bullish I see $38-45 as a very real possibility.
DYOR.
Trade Slick.
