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Xagusdanalysis

Optimistic approach of Silver (XAUGUSD)? For the previous days, Silver (XAGUSD) has been on consolidation mode, and pushed towards the highs of the inside bar despite the good number of US' GDP. Along the levels where XAGUSD currently is is a messy chart. However, as seen on my 1-hour chart, the commodity is clearly above an ascending channel. Breakage of this channel will only result to few higher level. However, if enough catalyst is given for its boost, it may reach the monthly resistance and may possibly form a triple top. It is important to note that this commodity has always been pushed below whenever it touches daily's 200sma. Be careful at that moving average!
FX_IDC:XAGUSDLong
by bearvsbullmarket
XAGUSDToday I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70. It really depends on price action around those zones, so should be careful for rejections, which might change my plans.
FX:XAGUSDShort
by colibritrader
XAGUSD (Silver)Today I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70. It really depends on price action around those zones, so should be careful for rejections, which might change my plans. Happy Trading,
FX:XAGUSDShort
by colibritrader
Short XAGUSDHi guys, Today I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the 18.30 area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70. It really depends on price action around those zones, so should be careful for rejections, which might change my plans.
FX:XAGUSDShort
by colibritrader
Silver lower high bottom in december 2016?I think silver is on its way to confirm the bottom that was set in december 2016. I don't think that is quite confirmed yet because silver is sill ranging in the downward trend since the peak in 2016-07-04. But I can see two potential inverse head and shoulder come into play. First play: If silver closes over 17.20 these three coming trading days, I would expect a fast run to 18.50 before any resistence (won't be looking for any trades here since no PA). But I will look to short at 18.50 if opportunity occurs. And after 18.50 is reached I will expect a correction to 17.10 since its the breakout line, right shoulder and the 50% fib correction level from the bottom (16,62-18,50). Second play: If the silver decides to have its correction now I will be looking to long at 16.20 level because of the potential right shoulder (will need PA to confirm though).
FX_IDC:XAGUSD
by Mattson