XAGUSDG trade ideas
Bull flag break out on silver Silver is expected to continue the bullish trend after breaking out of the bull flag pattern which is often interpreted as a trend continuation.
SILVER: Local Correction Ahead! Buy!
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 upside. So we are locally bullish biased and the target for the long trade is 34.36803$
Wish you good luck in trading to you all!
SILVER BEARS ARE STRONG HERE|SHORT
Hello, Friends!
SILVER is making a bullish rebound on the 8H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 32.380 level.
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SILVER (XAGUSD): Significant BreakoutSilver has the potential to rise further after breaking a major resistance level during intraday trading.
The previously breached structure now acts as support, indicating a possible move up towards 34.92.
SILVER (XAGUSD): Important Breakout📈Silver has the potential to increase in value after breaking through a significant resistance level during intraday trading.
The previously broken structure is now acting as support, indicating a potential upward movement towards 34.92.
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 🚀
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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Rebound Silver up. H4. 29.10.2024Rebound Silver up 📈
In silver, the price corrected rather weakly and went further up to rebound to the strategic resistance at 35.50. After that I expect a downward correction, but not a major reversal. Judging by the options, the strategic expectations are around 37.50 and that is where a major reversal down may come. Now 35.50 looks like an intermediate correction.
CAPITALCOM:SILVER
Erasing the sellsThe white metal may erase the sells that were dominant the past few days. Nearby resistance barriers we'll be the targets. However, failure to go up and a drop below 33.000 we'll likely continue the bearish move.
SILVER (XAGUSD): Bullish Continuation After News
Today's news are certainly bullish for Gold and Silver.
XAGUSD formed a confirmed Change of Character CHoCH
on a 4h time frame, signifying a completion of a local correction.
The price will text a current high now.
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Limited supply of silver with surging demand.Metals markets analyst Steve St. Angelo estimates that in the first half of 2024, the total weighted average cost of production among the leading silver miners rose to at least $26 per ounce.
Silver prices have surged over 6%, surpassing $33.6 per ounce. This rise poses a risk of significant financial losses for five U.S. banks holding large short positions in the metal.
The Commodity Futures Trading Commission (CFTC) reports that open interest in silver futures has reached 141,580 contracts, each representing 5,000 ounces. This totals about 707.9 million ounces, nearly matching a year’s global silver production, concentrated among these five banks.(Source: yahoo)
so if the banks decided to cover short, then the silver will explode.
Green energy means more silver demand.
Europe expects to install 260 GW of new wind power capacity over 2024-2030. The EU-27 should install 200 GW of this – 29 GW a year on average. (Source: Windeurope) which will have 50% more capacity in 2023, and the demand for silver will continue to rise since atypical wind turbines may contain around 0.5 to 1 kilogram (500 to 1,000 grams) of silver for its electrical components, including brushes and other conductive parts.
EVs mean more silver demand.
Average vehicle silver loadings, estimated at 15-28 grams (g) per internal combustion engine (ICE) light vehicle, have risen over the past few decades. Silver use is higher in hybrid cars at around 18-34g per light vehicle, while battery electric vehicles (BEVs) are believed to consume 25-50g of silver per vehicle. It is estimated that nearly 90 million ounces (Moz) of silver will be absorbed annually into the automotive industry by 2025.
Technical
a round bottom, looking for silver to test 50 and likely surpass the resistance.
SILVER: Move Down Expected! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 33,92164$
Wish you good luck in trading to you all!
Morning star weekly detected... 4H time frame Silver ...Its time to go UP next target 36 , geopolitical 42 this week...
SILVER Will Go Lower! Short!
Please, check our technical outlook for SILVER.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 34.071.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 33.443 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Silver price channel 35According to the positive correlation with gold and the American election conditions, and on the other hand, the war conditions in the Middle East increased during the last month and formed a new increasing channel. According to the analysis, this increase can continue with 3 goals, the first to the third goals respectively. The price of 34, 34.5, 35, which has the possibility of increasing to these 3 targets in the coming days
Silver H1 | Potential bearish reversalSilver (XAG/USD) is rising towards a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 34.23 which is a swing-high resistance.
Stop loss is at 34.72 which is a level that sits above the 127.2% Fibonacci extension level and a pullback resistance.
Take profit is at 33.16 which is a swing-low support.
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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.
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
Could the Silver reverse from here?The price is rising towards the pivot which is a pullback resistance and could reverse the 1st support level which has been identified as a pullback support.
Pivot: 34.27
1st Support: 32.93
1st Resistance: 34.85
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Watch Me Make $600,642 Backtesting in 20 MinutesMastering Backtesting with TradingView's Replay Feature: Your Target Practice for Trading Success
In the world of trading, practice makes perfect, and one of the best ways to hone your skills is through backtesting. TradingView’s replay feature serves as an invaluable tool for traders looking to test strategies, refine their skills, and improve their overall performance. Think of it as target practice—a way to simulate real market conditions without the pressure of live trading. This article will delve into how to effectively use the replay feature, challenge yourself, and why practice is essential for every trader.
The Power of Backtesting
Backtesting is the process of testing a trading strategy on historical data to determine its viability. It’s like a dress rehearsal for traders, allowing you to assess how a strategy would have performed in different market conditions. With TradingView’s replay feature, you can step back in time and play out the price movements of any market you choose.
Using TradingView's Replay Feature
Setting Up the Replay Feature:
Open TradingView and select the asset you want to backtest.
On the chart, locate the “Replay” button in the toolbar (usually represented by a play icon).
Click the button and select the date from which you want to start your replay. You can drag the slider to move through the historical data at your own pace.
Simulating Live Trading Conditions:
As the replay plays out, you can apply your trading strategy just as you would in real-time. Take note of price action, support and resistance levels, and your entry and exit points.
Use this opportunity to test different indicators and strategies, adjusting parameters as you see fit.
Documenting Your Trades:
Keep a journal of your trades during the replay. Note what worked, what didn’t, and any adjustments you made. This reflection is crucial for developing your trading skills.
Target Practice: Challenging Yourself
To truly benefit from backtesting with the replay feature, consider implementing challenges that simulate the pressure of live trading. Here are some ways to push yourself:
1. Risk Management Challenges:
Decide on a specific risk amount for each trade—say $1,000. After reaching a target profit, like $15,000, challenge yourself to avoid losing a predetermined amount, such as $2,500.
This mimics real-life scenarios where maintaining profits can be just as challenging as making them. It forces you to practice discipline and stick to your risk management rules.
2. Trade Frequency Goals:
Set a target for the number of trades you want to execute during the replay. For example, aim to make 10 trades in a single session. This encourages you to be decisive and consistent with your strategy.
3. Time Constraints:
Limit yourself to a specific time frame when executing trades. For instance, challenge yourself to make all trades within a 30-minute window during the replay. This helps you practice decision-making under pressure, enhancing your ability to react quickly in real-market situations.
The Importance of Practice for Traders
As traders, we must remember that consistent practice is key to mastery. The replay feature allows you to simulate different scenarios without the risk of real money, giving you the freedom to learn from your mistakes. Here’s why practice is crucial:
Building Confidence:
The more you practice your strategy in a controlled environment, the more confident you’ll become in your abilities. This confidence translates into more decisive actions when trading live.
Identifying Strengths and Weaknesses:
Regularly backtesting enables you to pinpoint areas where your strategy excels and where it falters. This awareness allows you to adapt and evolve your approach over time.
Understanding Market Dynamics:
Each market behaves differently. By practicing across various assets and timeframes, you’ll develop a deeper understanding of market dynamics, helping you make better-informed decisions.
TradingView’s replay feature is a powerful tool for backtesting and honing your trading strategies. By treating this process as target practice, you can simulate real trading scenarios, test your strategies, and build the skills necessary for successful trading. Don’t shy away from challenging yourself with risk management goals, trade frequency targets, and time constraints. Remember, consistent practice is the pathway to mastery, and with the right tools and mindset, you can elevate your trading game to new heights. So dive into that replay feature, test your strategies, and watch your trading skills flourish!
U may be right? I may be crazy, But Silver is going upIf you pull up the 5 year chart on silver, I believe I've found a cup and handle that points to $55 silver. I also remember that the yield curve has un-inverted. That means we have 2 - 4 months (based on a 3-6 month average) on time frame between un-inversion and recession. Thirdly, everything has a correlation of 1. Everything is going up together, and hence it will all fall together. So, my thesis, this explosive move will most likely occur before end of year. Oil, the dollar, check out UUP. You see $50-$55 silver, sell everything. I mean everything. Not just your silver, everything. Silver is always one the very last things to run in a bull market.
Good Luck,
Cheers
