CFDs on Silver (US$ / OZ)Updated Silver (XAG/USD) : Uptrend with Elliott Waves, SMC, and Volume
SILVER Silver (XAG/USD) : Uptrend with Elliott Waves, SMC, and Volume1. Identify Trends using Dow Theory
Primary Trend:
The current primary trend is an uptrend, characterized by higher highs and higher lows.
Volume Confirmation:
High-Volume Nodes (HVNs): Around the $30.22985 and $30.4049974 levels, indicating strong areas of support and resistance.
Low-Volume Nodes (LVNs): Identified below $30.0547026 and above $29.8053402, suggesting potential areas of rapid price movement.
2. Label Elliott Wave Structures
Impulse Waves (1-5):
Wave 1: From $30.9732 to $30.4049974
Wave 2: Correction to $30.22985
Wave 3: From $30.22985 to $30.7933
Wave 4: Correction to $30.4049974
Wave 5: From $30.4049974 to $30.4540 (current price)
Corrective Waves (A-B-C):
Wave A: From $30.7933 to $30.4049974
Wave B: Retracement upwards
Wave C: Continuation of the decline
Validation Using Fibonacci:
Key Fibonacci levels are marked at 0.382 ($30.4049974), 0.5 ($30.22985), 0.618 ($30.0547026), 0.705 ($29.9255685), and 0.786 ($29.8053402).
Volume Profile Integration:
Assess the strength of each wave by observing volume concentration during each wave.
3. Apply Smart Money Concepts (SMC)
Liquidity Zones:
Point of Control (POC): Around $30.4049974, indicating significant price acceptance.
Value Areas: Between $30.4049974 and $30.22985.
Break of Structure (BOS):
BOS noted at $30.4049974, indicating a potential trend shift.
Stop Hunts:
Possible stop hunts around the $30.4049974 level, where the price briefly dips below support.
Accumulation and Distribution:
Using Volume Profile to locate areas of accumulation and distribution.
4. Formulate Buy/Sell Strategies
Buy Strategy:
Entry: Around $30.4049974 (support level and potential stop hunt area).
TP1: $30.7933 (previous high).
TP2: $30.9732 (resistance level).
SL: Below $30.4049974 (e.g., $30.0547026).
Sell Strategy:
Entry: Around $30.9732 (resistance level and POC).
TP1: $30.4049974 (support level).
TP2: $30.22985 (previous support).
SL: Above $30.9732 (e.g., $31.1000).
follow Alexgoldhunter
This comprehensive analysis incorporates multiple advanced strategies to identify potential trading opportunities for Silver (XAG/USD), integrating Dow Theory, Elliott Wave Theory, Smart Money Concepts (SMC), and Volume Profile analysis. If you have any further questions or need more details, feel free to ask!
Trade active
Buy Strategy:
Entry: Around $30.4049974 (support level and potential stop hunt area).
Alex Gold Hunter
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Alex Gold Hunter
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.