XAGUSD set up for long entry XAGUSD on the 120-minute chart is at the top of the high volume area on the profile. This
is a relative volume void above and a high volume area breakout is possible or even likely.
The TTM squeeze indicator has just triggered. The Price Momentum and Relative Trend
indicators appear bullish. I assert that spot silver is bullish right now and mining stocks
especially junior miners may be ready to take long positions as well. My immediate target
for spot silver is 25.75, the recent high pivot in March and then 25.95 the high pivot of
December, and then 26.5, the highs of Spring 2022. Played in a leveraged forex setting,
the profit potentials are significant.
Spotsilver
FSM a silver junior miner poised to profit on silver's momentum FSM is on a 30-minute chart. The trade idea is that FMS suffers in drops in spot sliver but
thrives when spot silver rises as its fixed expenses in mining allow for increases in margin
in a curvilinear fashion when spot silver rises. This is more so than a senior miner such as FCX
that moves slower when metal prices rise or fall. I see the quick geopolitical dip in spot silver
as an opportunity to pick up junior miners ( including GDXJ the ETF) at a discounted price to
be held for spot silver recovery and then averaged out for realization of profits.
HL- a silver mining pennystock LONGHL shown on the reliable daiy chart while spot silver is uptrending. demonstrates multiple
bullish signs including a cross over the POC line of the volume profile and now the confluence
of a 200-50-20 triple convergence coindident with a cross of the long anchored mean VWAP
and a gaint ( "gib ass green") engulfing green price candle of 7% magnitude with volume above
the running mean. The Price Momentum Oscillator and Relative Trend Index lend further
support to a bullish bias here. I will take a long trade in HL of both shares and call options to
complement my positions in gold. Targets are 4.9, 5.4 and 6.8 yielding the potential of a very
profitable trade over in next six weeks before earnings and perhaps beyond that.
XAGUSD bounces up from VWAP LONGXAGUSD on the 15 minute chart- bounced off an intermediate term anchored
VWAP during the middle of the NY session. The Relative Trend Index indicator
and the Z-score are confirmatory. Price is now trending on the line of 2 standar
deviations above the mean VWAP line . I will open a trade here targeting
25.25 expecting a rise to the third deviation line in green before price should
hit some dynamic resistance. This would be about 1% ROI but leveraged on
forex several multiples of that. At the same time, I will review the AGQ ETF.
I expect the majority of the price rise to be at the overlap of the upcoming
London and NY sessions when trading volumes and volatility will be at their
highest.
XAGUSD Spot Silver Long XAGUSD on the 2H chart over the past month has ascended into a head and shoulders pattern
and then descended into a pivot on June 22nd. As it is now ascending, silver is a long trade
candidate. I see the stop loss as pivot low on 5/25 . Based on the volume profile and its
POC line, as well as the H & S pattern, the first target is the POC line at $ 23.3, the second
target at $23.45 which is the neckline of the pattern while the runner is $23.9 the horizontal
line of the top of the shoulders. I will take off 1/3 of the position at each target. Additionally,
I will raise the stop loss to break even upon getting halfway to the first target and to the first
target upon getting halfway to the second target. While leveraged on forex I expect
a high profit compared with the risk in the trade which will be risk off upon moving the
stop loss.
SILVER more downtrend anticipated SHORTXAUUSD- had a big down move on the London Session ; it is now in a triangle with trend lines drawn on the 15 minute chart.
The upper resistance trendline has held from far more touches than the support trendline below.
I conclude it is more or most likely, that XAUUSD will breakout from this triangle on a relatively lower time frame
with bearish continuation trending down and following the equities markets.
DOW / SILVER RATIO ANALYSISBased on the weekly chart, I see the DOW / XAGUSD ratio as rising in the past
year. I see this as meaning the DOW stocks have been valued by market participants
as compared with the valuation of silver. Further, I see the relative strength of
the ratio showing some bearish divergence of late. The DOW stocks are
challenged by the current macroeconomics and federal policies. In the meanwhile,
the gold to silver ratio is at historical highs. Silver industrial consumption is rising
now due to the electric vehicle revolution and the increasing momentum of
the solar power sector was recently enhanced by the suspension of federal tariffs
on solar cell panels. I expect the ratio to top out and reverse in a combination
of a continued bear market for stock equities and a silver bull run.
XAGUSD Spot Silver LONG - Reversal from Double BottomOANDA:XAGUSD
Spot silver put in a triple top in early March into early April on the daily chart.
It then descended over the next three months in what may end up being the
leading side of a cup and handle pattern into a bottom about July 13th.
Spot silver then rose a bit over the next five weeks and now has retested
the bottom now forming a double bottom.
Relative strength was gradually decreasing over this time while underneath
its Ichimoku cloud. However beginning about July 15th, the relative strength
began increasing and is now above the cloud. The leading cloud edge to
the right is red and rising. This is a hint of bullish divergence perhaps
forecasting the reversal is in progress.
That said, I see spot silver reversing to an uptrend which could also
be the right side of a cup and handle pattern underway. If formed
a cup and handle pattern suggests bullish continuation. I see this
an an excellent swing long setup with potentially 40% upside.
XAGUSD BULL SETUP
OANDA:XAGUSD
XAG is shown of the daily chart. has long-term resistance at 24.39.
At present, it has been trending on an arc with may represent the downward
slope of a cup and handle pattern. Moreover, a Hull Moving Average over 90 days
shows a good pit to the price action.
The RSI candles confirm the price action with low strength at price lows
then an inflection to gain strength and vice-versa.
XAGUSD had a triple top in mid-March to mid-April and now
appears to be setting up a double bottom.
The Hull Moving Average is now on an uptrend as is the trend arc line.
as potentially the upside of the cup in the cup and handle is forming.
I see a swing trade long with adds whenever the price action touches or crossing
the hull moving average, the arc line and /or low RSI on the oscillator.
XAGUSD SWING SHORTSpot Silver has been in a general downtrend albeit it with a short rally.
On the weekly chart the context of the rise in the stochastic RSI to over 60
and the MACD approaching a K and D line touch as well as the print
of a weekly candle as a red Doji after the recent federal minutes release
and another federal calendar event on 8/22 I will take a short on spot silver.
The stop loss will above the POC of the high volume area on the profile
or $20.2 for a $0.4 less while the target will be just above the recent
market low on July 11th at $18.15 ( green horizontal) for a profit of
$1.65 per . This makes for a reward to risk of about 4.