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Silvershort

19/10/2020 Silver - Expect down day today Based on price action, lots of resistance for silver. Thus my system points me to going short for today, though not discounting that we might see buyers at lower price levels. Price now at 24.22. Price could sell from here or pullback to 24.41 zone which offers better R:R for shorting. Expect 24.68 to cap high of day - low risk sell level. Lower targets are 23.948 and 23.766 with 23.5 as cap of low of day - low risk buy level.
OANDA:XAGUSDShort
by FadeMeIfYouCan
XAGUSD Major trend line was broken along with a DojiXAGUSD Has following the same path as GOLD as its got some rejection around 1.25560 a Bearish engulfing candle was formed and felled towards 23.879 a s the USD got some major BID in recent days. The major redline was broken on October 13 with strong bearish candle along with a doji candle. The price was bounced from 23.875 and approached towards 24.600 level which is a .618 Fibonacci level and in morning session even XAUUSD felled below the .786 Fibonacci level as its currently trading in a range we may expect downward play as The stimulus talks are getting weaker day by day which will strengthen the USD and in turn XAGUSD will fall. And the downside target would be 23.414 which is a 1.272 Fibonacci level 💌 Leave your valuable comments and suggestions related to this idea in the comment section. Thanks for your time. Good day guys 💝
OANDA:XAGUSDShort
by forexorbit
Silver Sets To Complete A Five-wave Impulse PatternKindly support this analysis with your likes and comments! The Silver 4 hourly chart reveals an incomplete Elliot Wave impulse sequence from wave (b) high on the chart. It's labeled i-ii-iii-iv-v. Wave iii is the longest wave and its sub-wave of wave iii is also visible. According to EW theory, once the corrective phase in wave iv is completed an impulse move will follow it in wave v . In Silver's case, the correction unfolded as a double zigzag and also terminated around 50% Fib level. Yesterday daily price action also close as a bearish engulfing bar. With all the confluence, we can expect Silver to head lower in the short-term. The setup will be considered invalid if the red line on the chart is breached. What's your view on Silver? Let me know in the comment! Good luck on the chart, Veejahbee.
OANDA:XAGUSDShort
by Veejahbee
2
Silver Should Fall Further Lower Before Bulls ResumeSupport this analysis with your LIKES and COMMENTS :) The rapid sell-off on Silver from wave (b) high is taking the shape of Elliot Wave five-wave impulse pattern. Price has already completed the first three waves and currently in wave iv. Wave iii is the longest impulse and its sub-waves are also visible. Once wave iv finds resistance, which is most likely around the 38.2 Fib level and base trendline we can expect another impulse down to complete the five-wave structure. The break of the green line will confirm the bears have resumed. Once the price breach the green line our invalidation level will be above 38.2 Fib line. Targets below wave iii low is plausible in days ahead. Once the five-wave pattern is completed, we can expect a strong rally in silver. What's your view on this precious metal? Let me know in the comment. Thanks, Veejahbee.
OANDA:XAGUSDShort
by Veejahbee
2