SILVER On The Rise! BUY!
My dear friends,
SILVER looks like it will make a good move, and here are the details:
The market is trading on 28.098pivot level.
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 28.246
Recommended Stop Loss - 27.576
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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Xagus
💡Don't miss the great buy opportunity in SILVERMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 27.40 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 23.95 on 01/18/2021, so more gains maximum to Major Resistance (27.40) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 62.
Trade Setup:
We opened 8 BUY trade(s) @ 24.93 based on 'Hammer' entry method at 2021.01.18.
Total Profit: 1584 point
Closed trade(s): 354 point Profit
Open trade(s): 1230 point Profit
Closed Profit:
TP1 @ 26.00 touched at 2021.01.21 with 107 point Profit.
TP2 @ 27.40 touched at 2021.01.29 with 247 point Profit.
107 + 247 = 354 point
Open Profit:
Profit for one trade is 26.98(current price) - 24.93(open price) = 205 point
6 trade(s) still open, therefore total profit for open trade(s) is 205 x 6 = 1230 point
Take Profits:
TP1 @ 26.00
TP2 @ 27.40
TP3 @ 28.45
TP4 @ 29.85
TP5 @ 31.25
TP6 @ 32.45
TP7 @ 33.45
TP8 Free
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ForecastCity English Support Team ❤️
Several Bullish indicators just went of on GOLDAs Gold was bull flagging, completing an A-B-C-D-E wave,
it also formed a reverse H&S,
Several bullish hammers on the lows (also contrasted to some bearish on the highs)
And a breakout of a trend line.
What more would you like?
In my opinion the trend is bullish for now.
But please keep showing contrasting idea's as we shouldn't get too biased.