Silver Price Poised for Breakout: Key Levels and Strategies
Updated
SILVER Silver Price Poised for Breakout: Key Levels and StrategiesAnalysis:
Price Action Strategy:
Support and Resistance Levels:
The chart shows significant support around 29.4000 and resistance around 30.0000.
The price is currently testing the FVG (Fair Value Gap) level at 29.8016, indicating potential for a breakout.
Volume Profile:
High volume around the 29.6368 level suggests strong interest and potential reversal zones.
Trend Analysis:
The current trend is bullish, with higher highs and higher lows.
Potential for continuation if the price breaks above the FVG level with strong volume confirmation.
Smart Money Concepts (SMC):
Order Block (OB):
A bullish order block is identified around 29.6368, indicating potential buy zones.
The CHoCH (Change of Character) confirms a bullish trend continuation.
Liquidity Zones:
Liquidity observed around the 29.4000 level indicates potential support.
ICT (Inner Circle Trader) Strategy:
Fibonacci Retracement Levels:
Key levels to watch are 0.382 (29.83553), 0.5 (30.0025), and 0.618 (30.16947).
Optimal Trade Entry (OTE):
The OTE zone aligns with the FVG and OB levels, indicating strong potential for a long entry.
Indicators:
RSI: Currently around 60.41, indicating neutral to slightly bullish sentiment.
MACD: Shows a bullish crossover, suggesting potential upward momentum.
Buy Signal:
entry: 29.6368
tp1: 29.8016
tp2: 30.0000
sl: 29.4000
Sell Signal:
entry: 29.8016
tp1: 29.6368
tp2: 29.4000
sl: 30.0000
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Sell Signal:
entry: 29.8016
Trade closed: target reached
ALL TP DONE GREAT JOB 
Alex Gold Hunter
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