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Gold relatively deep pullback..watchlisting it..Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Watching gold for it to hold the level. quite a deep pullback of 5%. Let's see how it hold out. If it holds I think i would prefer a long on Silver USD instead. Let's see how it plays out. Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
FX_IDC:XAUUSD
by Shadowing_The_Big_Boys
Strifor || GOLD-24/05/2024Preferred direction: BUY Comment: Metals after the corrective movement are considered for medium-term long. There is no need to talk about the short term yet. The most likely scenario for gold is growth from the level of 2343.869 (scenario №1). To do this, it is necessary to close above the level of 2343.869 , thereby forming a false breakout after such an aggressive approach to the specified support level. Scenario №2 assumes growth after a deeper correction towards the level of 2300 . In this area, using a similar format, according to scenario №1 , one can expect growth towards the target at the level of 2431.590. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAUUSDLong
by Strifor
1
Strifor || AUDUSD-23/05/2024Preferred direction: SELL Comment: We did not see another short-term growth in the Australian dollar , as a result of which we had to abandon this idea, and today it is most likely better to consider this instrument more from the seller’s point of view. The most likely maneuver in favor of the seller will most likely develop from the level of 0.66460 , which will most likely become resistance again (scenario №1) . However, a close above this level, especially on the daily chart, will immediately restore confidence in buying, and selling will have to wait. Scenario №2 is more conservative, according to which you should look for a sale near the level of 0.67500 , after updating the local maximum. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
1
Strifor || GBPUSD-23/05/2024Preferred direction: SELL Comment: Today is quite an interesting day from the point of view of the publication of economic events, and, most likely, there will be volatility in both the European and American sessions . Against this background, it makes sense, based on a number of important technical factors, to begin to consider selling priority for a number of major currency pairs. Among them is the British pound. It should be noted that this is not a short-term trade, and here we will consider two scenarios. Scenario №1 assumes a fall today, especially against the backdrop of those important economic indicators whose publication we expect today. Scenario №2 is a more conservative, but at the same time less likely, maneuver. In both cases, we consider the target at the level of 1.26500. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Short
by Strifor
3
UPDATE: Silver trajectory remains up with target at $37If you place the regression channel you'll see Silver has been on an uptrend for the last few months. We have had a Reverse Cup and Handle and the price has been above both 20 and 200MA... So with the Zig Zags, the price will continue to move up until it reaches the first target at around $37.25. Silver is the second type of safe haven that is common for investors to buy during risky market conditions. Simlar to gold - but is generally on a slower path up.
COMEX:SI1!Long
by Timonrosso
XAGUSD. Weekly trading levels 20 - 24.05.2024Not much has changed on Silver. We were above 10 years ago; there is no data on volumes for such a period. If we go higher, we can clarify the levels in Daily publications. During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
FOREXCOM:XAGUSD
by Forex_Hoby
Strifor || GOLD-Week StartingPreferred direction: BUY Comment: For metals , all our previous targets were hit with a plus, both for gold and silver . If we talk about gold , we are trading near the historical high, which is always a key moment for any instrument. Against this background, it is largely better to refrain from trades and monitor. Most likely, the metal will try to renew itself to the maximum, but this will most likely require a pause or a preliminary rollback (scenario №1). In case of an unsuccessful breakdown of this maximum, one can count on growth, but closer to the level of 2343.869 (scenario №2). Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
OANDA:XAUUSD
by Strifor
1
SILVER Will Fall! Short! Here is our detailed technical review for SILVER. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 31.547. Taking into consideration the structure & trend analysis, I believe that the market will reach 28.697 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. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAGUSDShort
by SignalProvider
2
XAGUSD (Silver) Technical Analysis and Trade IdeaSilver (XAGUSD) has exhibited a robust bullish trend on the daily timeframe. We’re currently seeking a buy opportunity aligning with the trend continuation, assuming price action plays out as per the analysis presented in the video. The video covers essential aspects such as trend analysis, price action, market structure, and a potential trade idea. Remember to manage risk diligently when trading, and note that this information is purely educational and not financial advice. 📈👍
FOREXCOM:XAGUSDLong
by fxtraderanthony
4
$SLV ETF Inverse Head & Shoulders Pattern & Fibonacci ResistanceAMEX:SLV ETF Inverse Head & Shoulders Pattern & 50% Fibonacci Resistance. Silver will need to consolidate before it can break higher to the blue line. The Inverse Head & Shoulders (IHS) pattern is a bullish reversal pattern in technical analysis, typically appearing at the end of a downtrend. It is characterized by three distinct lows: 1. **Left Shoulder:** The initial low formed during the downtrend. 2. **Head:** A lower low, signifying a continuation of the downtrend but also a potential reversal point. 3. **Right Shoulder:** Another low, typically higher than the head, indicating weakening downward pressure. The neckline of the IHS pattern is a resistance level drawn by connecting the highs between the left shoulder and head, and the head and right shoulder. When the price breaks above this neckline, it confirms the pattern and signals a potential reversal to an uptrend. Traders often use the IHS pattern in conjunction with Fibonacci retracement levels to determine potential price targets. After the neckline breakout, the price is likely to retrace a portion of the initial move up before continuing higher. Common Fibonacci retracement levels used are 38.2%, 50%, and 61.8%. **Here's how the Inverse Head & Shoulders pattern and Fibonacci resistance work together:** 1. **Identify the IHS Pattern:** Locate the left shoulder, head, right shoulder, and neckline on a price chart. 2. **Confirm the Breakout:** Wait for the price to break decisively above the neckline on increasing volume. 3. **Apply Fibonacci Retracement:** Draw Fibonacci retracement levels from the low of the head to the high of the right shoulder. 4. **Set Price Targets:** Look for potential resistance and profit-taking opportunities at the 38.2%, 50%, and 61.8% retracement levels. **Key Points:** * The IHS pattern is a powerful bullish reversal signal. * Fibonacci retracement levels can help identify potential price targets after the breakout. * Traders should always combine the IHS pattern with other technical indicators and risk management strategies to improve their trading decisions. **Disclaimer:** Technical analysis is not a foolproof method for predicting price movements. It's essential to conduct thorough research and consider various factors before making any investment decisions.
AMEX:SLVLong
by AlgoTradeAlert
What's next for Silver and Gold?OANDA:XAGUSD OANDA:XAUUSD TVC:DXY Finally 😎 Silver broke through $30. So what's next? Long-term: I would say there is nothing on its way to go for $50. BUT, what would support Silver to go for $50? where's the demand for silver? How would supply change in the coming years? .... I would say, let's not get ahead of ourselves and focus on what's going on now, then I try to prepare a separate post for the reasons I have for staying bullish on silver in the coming years. Short-term: As you might have noticed, on 15 May, after the US Fed announced the CPI data, silver started its rally to $30. The recent CPI y/y data came out at the expected level of 3.4% and the CPI m/m was at 0.3% which was lower than the market expectations. So, Fed Chair Jerome Powell continued his recent interviews with a dovish tone which signals that we are very close to a rate cut **. For now, the first rate cut is expected to happen in September. Long story short, gold and silver are pricing in the rate cuts now as this sentiment pulling DXY down. So, in the short-term , I would like to see Silver between $33.6 - $36.4 and Gold entering the $2580 - $2650 area. In the meantime, DXY can reach to 103. I have highlighted these areas on the chart 😊. ** Watch out for unemployment numbers as the Fed shifts its focus on that. If you are a day trader, you can expect higher volatility around unemployment news than before and you expect this number to have a higher impact on the longer-term trends of DXY. ** Also, keep that in mind, if they want to normalize the 3% inflation rather than 2%, it means we can expect higher levels of interest rates for a longer period of time.
OANDA:XAUUSD
by SamanFx0