Analysis of the XAGUSD by the Mallicast team.Silver, however, has higher price levels ahead, and we can expect its upward movement to continue until reaching the price of 31.773.
XAGUSDG trade ideas
Analysis of the XAGUSD by the Mallicast team.Silver, however, has higher price levels ahead, and we can expect its upward movement to continue until reaching the price of 31.773.
SilverPair : XAGUSD ( Silver / U.S Dollar )
Description :
Completed " 12345 " Impulsive Waves and " A - wxyx " Corrective Waves
Break of Structure
CHoCH
Bullish Channel as an Corrective Pattern in Short Time Frame
RSI - Divergence
SILVER (XAGUSD): More Growth is Coming?!
I see a confirmed structure breakout on Silver.
The price broke and closed above a key daily resistance.
We see its retest at the moment.
Presumably, the broken structure turned into support now.
The market may continue growth at least to 30.3 resistance.
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XAGUSD bullish analysisBullish analysis for XAGUSD has price in wave 5 of (3), with price target of 47.441 for wave (3).
Why silver needs to break 29.80 today Wednesday 21st August
The Gold price has recovered well today. See my analysis on Gold on my other thread.
I need to see Silver continue to rally above 29.80 and take out the right shoulders on bearish H & S's patterns on the 5m, 15m, 30m and 60 minutes charts.
I do see bullishness for Silver as the Gold price recently showed strength thanks to a bullish H & S's on the 1m, 2m and 3m.
Cheers,
Chris
* Please don't rely solely on my investment advice. Learn as much as you can.
Silver is in the bullish trend after testing supportHello Traders
In This Chart XAGUSD HOURLY Forex Forecast By FOREX PLANET
today XAGUSD analysis 👆
🟢This Chart includes_ (XAGUSD market update)
🟢What is The Next Opportunity on XAGUSD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
SILVER Is Very Bullish! Long!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 29.576.
Taking into consideration the structure & trend analysis, I believe that the market will reach 31.792 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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End of pullback????After making a major trend reversal on top, XAUUSD now pullback to upper line of his channel and heavy to goes higher.
On my view, Bear can take control again and push price lower.
Trade safe.
Good luck.
SILVER (XAGUSD): Important BreakoutSilver has the potential to increase in value after breaking through a significant daily resistance level.
The previously broken structure is now acting as support, indicating a potential bullish movement towards $30.00.
SILVER, very bullish outlookHello everyone,
I like to provide you a detailed elliot wave analysis on silver. In my opinion we are in the middle of a higher degree fifth wave. The elliot wave rules I use:
Standard:
- Wave 3 has to be the longest
- Wave 4 can not overlap with wave 1
Advanced:
- Target levels are 1,5 to 1,618 (wave 3) and 2.272 to 2.618 (wave 5)
- Wave 3 needs to show a change of character to wave 1 (usually steeper)
XAGUSD - Aggressive Bullish Play To $29.21.If this doesn't play out before i finish this post, next week i will be scoping out juicy longs to poach the long term higher timeframe highs located @ $29.21.
Overall bias is long, going into the daily Sellside imbalance buyside inefficiency between 29.433 - 29.757 for this week.
All-time highs being booked in OANDA:XAUUSD also aids this long bias as these two commodities tend to move in tandem
SILVER (LONG)As per daily market structure .
Turtle soup Trading Strategy
The Turtle Soup strategy, however, flips the script, aiming to profit when those anticipated trend.Linda Raschke’s Turtle Soup strategy is a counter-trend trading approach that capitalizes on failed breakouts.
It takes inspiration from the famous Turtles trading experiment, where novices were trained on a trend-following system.
Silver's possible 'edge' over Gold (see chart)
The Gold price will continue to Surge this week imo, mainly on very USD weakness & traders and people from all over the world are coming 'from-out-of-the-wood-work' to speculate on Gold's next move when The-Fed moves on interest rates in Mid-September.
But the Silver price is still about 9.8% underneath it's high-price for 2024. Silver imo opinion has more volatility and price movement than Gold does, which is another reason I prefer to accrue or Trade the Silver Price. Finally, Silver is not as overbought currently on the Stochastics & RSI weekly and monthly timeframes compared to Gold.
It probably does not matter which precious metal you trade or buy, they are all incredibly bullish at the moment, yes particularly Gold & Silver.
GATO/ Silver Updated Technical Analysis for GATO and Silver
GATO (Gatos Silver, Inc.):
Current Technical Levels:
Support Levels: Around $12.80 and $11.50. These are key areas where the stock might find buyers if it pulls back.
Resistance Levels: The next significant resistance is around $13.50. If the stock breaks through this level, the next target could be around $14.50.
Technical Indicators:
The stock is currently in an uptrend, with the price trading above the 200-day moving average.
The Relative Strength Index (RSI) is approaching overbought territory, which could indicate a potential pullback or consolidation.
Silver Index-
Current Technical Levels:
Support Level: Near $28.60. This is a crucial level to watch if silver begins to decline.
Resistance Level: Around $29.60, which is being tested currently. A break above this level could lead to further gains in both silver and related stocks like GATO.
Technical Indicators:
Strategy Consideration
For GATO:
Hold your position as long as GATO stays above $12.80, and consider adding to your position if it breaks above $13.50 with strong volume.
If silver pulls back below $29.60, you may see a similar pullback in GATO, which could bring it back toward the $12.80 support.
For Silver:
Keep a close eye on the $29.60 level. A failure to break this resistance might signal a short-term pullback, which could affect GATO as well.
XAGUSD / GENERALLY PRICES UNDER BULLISH PRESSURE - 4HXAGUSD
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 28.58 .
Turning Level: The price is currently trading above this level around 28.58 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 27.80 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 28.58 . If the price reaches 27.80 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 27.08 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 26.44 .
Resistance Level (1): As long as the price remains above the turning level of 28.58 , it suggests a rising towards 29.56 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 30.75 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 31.64 .
Channel Trend: the prices trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 29.56 , 30.75 , 31.64 .
SUPPORT LEVEL : 27.80 , 27.08 , 26.44 .
Silver just broke out of a medium term downtrend - GOING UP!Buy analysis has kicked in for Silver.
We have seen it form a W Formation and recently, it's broken not only out of the Neckline but also the Downtrend (action line).
Nature: High probability analysis
Price>20 and 200MA
Target 33.79
Silver Rebounds at Key Demand Zone: A Bullish ImpulseSilver recently rebounded from a significant Demand area around $28.48, marking the start of what appears to be a new bullish impulse. This recovery comes at a crucial moment, as market participants closely monitor the movements of precious metals amid fluctuating economic indicators and shifting sentiment in the broader market.
From a technical standpoint, the surge in Silver's price following this rebound is notable. The metal has managed to find strong support at this key level, suggesting that buyers are stepping in, possibly positioning for a sustained upward move. This aligns well with the latest Commitment of Traders (COT) report, which reveals interesting dynamics among the major players in the market.
The COT report, which tracks the positions of commercial and non-commercial traders, indicates a favorable environment for further bullish momentum in Silver. Non-commercial traders, often seen as speculators, seem to be gradually increasing their long positions, reflecting a growing confidence in Silver's potential upside. Meanwhile, commercial traders, who typically use futures contracts to hedge their positions, may be signaling the underlying strength in Silver by reducing their short positions.
Applying our Supply and Demand strategy, the recent price action further supports the case for a long continuation in Silver. The demand area around $28.48 has proven to be a robust support zone, and as Silver continues to build on this foundation, we anticipate the possibility of higher prices in the near term. The current market conditions, combined with the insights from the COT report, suggest that Silver may be poised for a strong rally.
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XAGUSD - Silver will reach 30$?!Silver is above the EMA200 and EMA50 in the 4H timeframe and is trading in its descending channel
If the upward movement continues and silver is placed within the specified supply Zone, we can look for silver sales situations
Correction of silver towards the specified trend line, which is also in the intersection with the demand zone, will provide us with a good buying position in terms of reward to risk
SILVER BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
Previous week’s green candle means that for us the SILVER pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 27.919.
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SILVER LONG RESULTSSILVER
LONG
TARGETS 1 2 3 4 DONE
578% LEV X 100
115% LEV X 20
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