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Current silver XAG resemble BTC 2018 pattern As the points numbered it has some resemblance between BTC and Silver (current price: $25.70) where points 1-5 has already touched an important trendline. To see what will happen to the future price action, we will have to see what is the price reaction at the trendline. If it hovers around the top of the trendline a quite some time, go LONG when the price tighten and the spread is small seems to be a better probability. If price get some kind of dramatic reaction especially to the down side of the trendline, expect a CAPITULATION event happening soon. Long term holders will have to place their stop loss lower than $7 mark. Short term holders can place orders around the $12-$9 mark and expect a bull run for 2-5 years afterwards. Of course the timeframe for BTC is daily and silver is weekly however because BTC moves fast and large enough I consider them to offsetting each other. However if its outside this plan you should know where to place the stop losses with reasonable R:R ratio. May the best plan wins!!
by stantm23
Right Angled Descending Broadening WedgeChart Story here is.. from a Ascending broadening wedge the bears took it down.. and there was a great chance that a Bullish divergence would appear. It did... course went up and so a Descending triangle formation was there to bring the course down again. Because the price then widens a bit on the downside in a sideways move, I consider it a Right Angled Descending Broadening Wedge for now. Besides this pattern, you could probably also make a W pattern out of it but the characteristic of the Broadening wedge is "often", that after hitting the top or bottom 2 or 3 times the price comes back halfway during a rise or fall and then breaks out. these scenario's makes it possible to trade them but in times of macro economic uncertainties at the moment, caution is advised at all times. manage your risks at all times. disclaimer: this is not a financial advise
TVC:SILVER
by Tims.Technische.Analyse.
SILVER bullish outlookSILVER managed to break through its consolidation, which formed a triangle pattern on the daily graph, and now is heading for a price increase. Both indicators, MACD and RSI, are also confirming the bullish pattern. If this pattern continues, XAGUSD will probably test its previous high around 26.10 In the opposite scenario, the price might test its previous low at 20.58 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
FXOPEN:XAGUSDLong
by legacyFXofficial
2
My new silver idea...Based on the Fed's adamant nature on raising rates over the next two meetings, I see weakness in the silver price. But not much more. I think the Fed pauses and possibly pivots to easing after August when the true nature of the coming recession reveals itself. Following that I see a rapid rise in the price of silver, in a similar time frame between 2008 and 2011. However I do see silver will retaking $50/oz much quicker than it did the last time. Then the price of silver is in no man's land and we must base our projects based on measurements of silver compared to other investments or commodities.
TVC:SILVERLong
by WinstonWolfe
2
Updated Silver AnalysisLooks like my previous look on silver was wrong. Looks like it is still within a wedge and we are looking for a breakout within the next few months. After the breakout I'd fully expect to see at silver at a minimum of $50 an ounce. Personally, I'm seeing costs of goods go up higher than that currently, with the addition of increased labor rates, some raw materials are close to 3x what they were a year ago. It's only a matter of time before silver does the same.
TVC:SILVERLong
by thephysicsguy1
Silver: No Dormancy 🐻 🐻 🐻 Usually, at this time of year, bears would be snuggled up in a cozy cave or den for their annual dormancy. However, at the silver market, they are full of beans and hold onto the price fast. After agonizing about it for a while, the silver price has finally fallen below the resistance at $23.48. Thus, we consider the downward trend we predicted affirmed. If the bears can keep the price below $23.48, we expect it to go even lower and break through the next marks at $21.94 and $21.41. Still, there remains a 30% chance that the bulls could interfere and cause a change of direction. If they prevail and bring the price back above $23.48, they could even manage to shove it above the resistance at $25.49.
COMEX:SI1!Short
by MarketIntel