SILVER LONG TRADE PLANTVC:SILVER
TVC:SILVER is primed to POP and eyeing next levels.
As Always, NFA & DYOR.
Silverusd
"Silver's 44-Year Cup and Handle Formation"Silver: 44-Year Cup and Handle Formation Points to Bullish Continuation
Silver, a timeless asset with a rich history, is capturing the attention of investors as it forms a 44-year cup and handle pattern, signaling potential bullish continuation. The current compression of the handle, coupled with a bullish pennant setup, suggests that a breakout could herald the onset of the next major bull cycle. Let's explore the dynamics of silver and the promising prospects it holds for investors.
Understanding Silver's Cup and Handle Formation
Silver's cup and handle formation is a classic technical pattern characterized by a rounded bottom (the cup) followed by a consolidation period (the handle). This pattern typically signifies a period of accumulation and sets the stage for a potential breakout to higher levels. With the cup spanning 44 years, the formation holds significant historical significance and suggests a prolonged period of bullish sentiment.
Compression of the Handle and Bullish Pennant Setup
Currently, silver's handle is undergoing compression, indicating a tightening range of price movement. This consolidation phase is often accompanied by diminishing trading volumes, reflecting indecision among market participants. Additionally, the formation of a bullish pennant within the handle further reinforces the bullish bias, as it typically precedes a continuation of the prevailing uptrend.
Breakout Signal for the Next Major Bull Cycle
A breakout from the handle's compression zone is anticipated to signal the beginning of the next major bull cycle for silver. This breakout would validate the cup and handle pattern, confirming the bullish continuation thesis and potentially unleashing a significant upward move in silver prices. Traders and investors alike are closely monitoring key resistance levels for signs of a decisive breakout, which could mark a pivotal moment for silver markets.
Conclusion: Positioning for Bullish Momentum in Silver
In conclusion, silver's 44-year cup and handle formation, coupled with the compression of the handle and bullish pennant setup, suggest that the precious metal is poised for bullish continuation. As traders await a breakout signal for the next major bull cycle, strategic positioning and prudent risk management are essential for capitalizing on the potential upside in silver markets. With the historical significance of the pattern and the technical indicators aligning, silver enthusiasts are eagerly anticipating the next chapter in its enduring journey as a sought-after asset.
Upside in Silver is Coming! Long Setup UpdateEarlier, I took an early long position on Silver as we were getting a trendline and 4 hourly resistance breakout.
Long from 22.79 or now.
Target 1 - 23.30 - Set stop loss to break even once T1 has been hit.
Target 2 - 24.05
Target 3 - 24.50
Extreme Target - 25.49
Stop loss - 21.80
Upside for Silver is Coming! Long Setup!I am taking an early long position on Silver as we are getting a trendline and 4 hourly resistance breakout.
Long from 22.79 or as close as possible.
Target 1 - 23.30 - Set stop loss to break even once T1 has been hit.
Target 2 - 24.05
Target 3 - 24.50
Extreme Target - 25.49
Stop loss - 21.80
Inverse Head & Shoulders for Silver in-playThe 4 hourly Silver chart is showing initial signs of a potential inverse head and shoulders pattern. With confirmation of this pattern, I will be looking for a long position at 22.50. My target will be a long position towards the 23.50 resistance and supply zone.
📈💪 Silver Secures Support: Gearing Up for $24.5 Sprint! 🏃♂️It seems that silver has found triple bottom support on the RSI, while DXY is showing signs of a strong bear. This suggests that commodity prices may rise, which in turn could send silver to test $24.5 once again. However, if silver fails to clear this area, it could potentially lead to a permanent collapse of silver prices.
But for now, this chart is bullish. Enjoy the trend!
SILVER (XAGUSD): The Growth Will Continue 🪙
Silver set a new higher high higher close, violating a key horizontal resistance on a daily.
It is an important sign of strength of the buyers.
The market will most likely keep growing.
Next goal - 25.0
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SILVER - BULLISH MOVE 📈Hello Traders !
The Silver Price is Trading in an Ascending Channel 📈
The Price Reached a 0.6 fibonacci retracement level,
and Failed To Break The Support Line.
So, I Predict a Bullish Move 📈
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TARGET: 25.35000🎯
#SILVER: A strong sell off expected! Dear Traders,
OANDA:XAGUSD a strong sell off is expected on silver this week. Firstly because recently price have been overbought and there is going to be ' a strong bearish impulse' due to adjusting he market equilibrium. Secondly, the NFP and other strong news that can affect the silver future price significantly.
We will have to keep close eye on the price action if price does not respect our zone then the idea will be automatically invalidated. we will update on this as we progress.
Silver trying to break 12year old trendline.Silver trying to break 12year old trendline.
This is a long term chart. Based on history, big trend lines
shifts the long term trend.
With all the inflation going on people historicaly buy silver and gold
to protect them self from inflation and preserve their puchasing power
while their currencies fall.
On of my favourite copper/silver stocks that is leveraged for rising prices.
is Brixton Metals corp /symbl: BBB
SILVER (XAGUSD): Technical Outlook & Trading Plan 🪙
Silver is currently trading within a narrow horizontal range on a daily.
23.20 – 23.43 is the support of the range.
23.93 – 24.14 is the resistance of the range.
Bullish breakout of the upper boundary of the range will give you a strong bullish signal.
Daily candle close above will confirm the violation.
A bullish continuation will be expected to 24.70 then.
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Wave 1 is complete!! How much will the second wave be corrected?Greetings, dear friends. I hope you are having a productive week.
I am happy to assist you in ensuring that all previous analyses are attached to each corresponding analysis. This will provide a comprehensive overview and help you make well-informed decisions. Please do not hesitate to let me know if there is anything else I can do to assist you further.
I want to share my market analysis ideas based on the Elliott Wave Principle with you.
I am a fan of this principle and follow all the rules and guidelines for analyzing the market.
However, please note that my ideas are based on my personal experience and may change over time.
If there is an error in my analysis, I am open to re-analyzing it from the beginning and learning from my mistakes.
It's important to understand that making an error in analysis is not a fault, but evading responsibility is.
No one can analyze financial markets with 100% accuracy, but it's remarkable how close we can get.
We analyze from multiple perspectives to consider all possibilities.
Let's mention a few opinions and ideas!
Based on mathematics.
I am still practicing to understand the Elliott Wave Principle better and hope to provide an even better analysis in the future.
Thank you for your continued support, and I look forward to our mutual success.
Best regards,
Mr. Nobody
Keep trying and never give up.
Good luck!
Five Wave Up Now Three Waves Corrective Degree? How Much CorrectGreetings, dear friends. I hope you are having a productive week.
I am happy to assist you in ensuring that all previous analyses are attached to each corresponding analysis. This will provide a comprehensive overview and help you make well-informed decisions. Please do not hesitate to let me know if there is anything else I can do to assist you further.
I want to share my market analysis ideas based on the Elliott Wave Principle with you.
I am a fan of this principle and follow all the rules and guidelines for analyzing the market.
However, please note that my ideas are based on my personal experience and may change over time.
If there is an error in my analysis, I am open to re-analyzing it from the beginning and learning from my mistakes.
It's important to understand that making an error in analysis is not a fault, but evading responsibility is.
No one can analyze financial markets with 100% accuracy, but it's remarkable how close we can get.
We analyze from multiple perspectives to consider all possibilities.
Let's mention a few opinions and ideas!
Based on mathematics.
I am still practicing to understand the Elliott Wave Principle better and hope to provide an even better analysis in the future.
Thank you for your continued support, and I look forward to our mutual success.
Best regards,
Mr. Nobody
Keep trying and never give up.
Good luck!
Silver has a big problem!
Let's take a look at silver pricing together. Silver has been consolidating for a long time in a range. Every time silver tried to go higher it was rejected. We are already at the end of the consolidation, where the bears are cutting every move up. I don't see any signs that the price is going to go higher again. it can be seen how the price was gradually rejected from the top and further from 0.6 Fib and 0.5 Fib. Subsequently, we soon expect a steep drop to a value of around 21d.
Silver is trading within descending channelFrom the start of the month may XAGUSD/Silver is in downward movement after forming a double top formation. Ever since this drop its forming clear descending channel. Within this bigger trend formation We can see some rising wedge formations which is indicating the upcoming bearish trend until this trend gonna breakout. The price is currently below 50% Fibonacci level. In Elliot wave analysis currently larger third way is under formation.
SILVER - Bearish Scenario 📉HI Traders !
On Friday 20 Oct, The Silver Price Reached a Resistance Level (23.77640 - 23.55650).
-The XAGUSD Failed To Create a New Higher High.
-The Price Formed a Triple TOP Pattern.
Currently, We have a Bearish Scenario:
If The Market Breaks The Neckline and Closes Below That,
We Will See a Huge Bearish Move 📉
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TARGET: 21.10000🎯
SILVER - The Neckline is Broken 📉
As We Talked in The Previous Analysis:
On Friday 20 Oct, The Silver Price Reached a Resistance Level (23.77640 - 23.55650).
-The XAGUSD Failed To Create a New Higher High.
-The Price Formed a Triple TOP Pattern.
Currently,
-The Neckline is Broken.
So I Expect a Bearish Move !
i'm waiting for retest...
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TARGET: 21.10000🎯
Silver I Potential upside Hello,Traders!
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XAGUSD (Silver) is trading in a downtrend on the daily and sitting
right below the 50 MA. After the recent decline and consecutive
rejection at 20.73, price has been pushing upward in an impulse,
correction phase. It is currently rejecting the 32% fib after the
impulse rise from 21.77. All signs are pointing to more upside at
the moment with a potential target to resistance 23.50
Trade safe and good luck!
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SILVER - BEARISH SCENARIO 📉Today, The Silver Price Reached a Strong Resistance Level (22.51100 - 22.11245) and 50% Fibonacci Retracement Level.
So We Have a Bearish Scenario:
If The market Breaks The Higher Low (21.72533 - 21.57400) and Closes Below That,
I will Sell on Retest...
TARGET: 20.10000🎯
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If you agree with this IDEA, please leave a LIKE, SUBSCRIBE, or COMMENT!
#silver #XAG Long Term StrategySilver has broke the trend line in the megaphone channel and will there will likely be a bearish retest. If price decline comes after retest, the silver price will probably go to find the megaphone channel dip. Mid / short time , this will be a bearish movement.
But in long term , after breaking this megaphone channel, silver will meet new ATHs in Q3 2024.
NOT FINANCIAL ADVICE. Do your own research and always decide with your knowledge not mine or anyone else.
Silver Breaking down: Symmetrical TriangleSilver (US$/Oz) Breaking drown from a long term support trendline (22.197 levels).
Crucial support levels to look for : 21.376, 20.7-20.52 and worst case 19.945. Although if macro factors support we can see a demand uprise and a subsequent pull back to 21.376 and rally upto previous long term trendline levels.
SILVER Bullish from trendlinehello traders ,
silver reached a trendline , a strong bullish impulse is expected from there.
its the last week of q3 trade safe
XAGUSD - Bearish Move 📉Hello Traders!
On The Daily Time Frame, The XAGUSD Price Reached A Resistance Trend Line and Supply Zone !
Currently, The Price Failed To Create a New Higher High 📈
So, I Expect a Bearish Move📉
i'm waiting for retest...
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TARGET: 22.45000🎯
___________
if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
