Xagusdidea
Completion of 5th Elliott's Wave on Silver Daily Timeframe 21.50 which has been quite a solid support in the last two years has been breached (Wave 3) and an ascending wedge/bear flag has been broken (Wave 4).
Once price is traded below this Month Open (which is below 21.50), there is a high probability that it'll test 19.00-19.50 area.
Analysis of the silver priceOn the other hand, technical indicators on the daily chart have not yet confirmed a positive outlook. Therefore, the $23.00 confluence region might continue to act as a barrier for any subsequent move up. Immediately following this is the ascending trend-channel resistance, which currently stands around $23.45 in price. As long as the XAG/USD maintains a strong upward trend beyond the 61.8% Fibo, a positive breakout will be confirmed. It is possible to regain $24.00 by reclaiming the $23.60 region.
As long as the XAG/USD keeps climbing above the intermediate barrier of $24.20-$24.25, toward the $24.55 swing high of June, the positive momentum could continue.
The downside is likely to attract some buying and remain limited near the $22.65-$22.70 area, or the 23.6% Fibo, if price weakness lower than $23.00 is confirmed. In addition, we need to consider "level." If this is broken, the XAG/USD could slide back toward the $ 22 mark. Falling prices will likely reach the $21.70-$21.65 zone en route to the $21.25 support and $21.00 mark if some follow-through selling occurs.
Chart analysis for XAGUSD on a D1Silver is also in a downward trend on the daily chart. XAG/USD's long-term bias is upward because of rising support since September. The near-term downtrend is being maintained by a falling trendline from May. 61.8% Fibonacci retracement level at 22.29 provides immediate support. Taking this price down reveals rising support. The 38.2% level at 23.75 is released upon breaking above the falling resistance.
SILVER Forecast 6July2023if this is an a-b-c correction and wave c is usually the same length as wave a, then there is a high probability that XAG will go down.
This is signaled by the current price at the trendline and strong resistance area. if XAG turns out to respond positively to the trendline and makes a strong bearish signal, then it is likely to go to fibo extension 1.
XAGUSD are you rdy for best short 😁Silver Woe to those who do not see the downward trend of silver.
The trend of silver is downward, on the other hand, silver's older sister, gold, is not in a good position, and gold's younger sister, which is silver, should be led down with it.
The trend of silver is currently in a bearish base, so we have the next bearish wave ahead of us.
The trend of silver is for 20.02677 and then it is 18.93789 dollars, so if you want to open a trade, don't forget the trend of shorting and selling silver.
XAGUSD Trading Plan - 16/May/2023Hello Traders,
Hope you all are doing good!!
I expect XAGUSD to go Down after finishing the correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
XAGUSD Next MovePair : XAGUSD ( Silver / U.S Dollar )
Description :
Rising Wedge as an Corrective Pattern in Long Time Frame and it has Breakout the Lower Trend Line and Completed the Retracement
Break of Structure
Fibonacci Level - 78.60%
Rejecting from Strong S / R Level
Divergence
Impulse Correction Impulse
Elliot Waves
XAGUSDWe see a high in the range of 21.845 and higher than the previous high in the range of 21.768. It is expected that if the above oscillatory movement can be supported by the two ranges of 21.551 and 21.672 and the ceiling of the channel in the above analysis can be successfully rejected. He expected to touch two targets in the areas of 22.010 and 22.159.
important points:
1. The confirmation of departure from the current corrective trend can be obtained from the lower fractals.
2. It is not necessary to touch both targets.
3. The range between 2 targets can act as a resistance
XAGUSDWe are witnessing a decreasing trend in a channelized space. We are currently witnessing a negative divergence and we are on a static resistance in the range of 21.76186.
We have 2 scenarios ahead:
1. In case of breaking the resistance, you can experience a growth up to the ranges of 21.86676 and 21.95601 or between them and then continue the decrease up to the specified ranges.
2. It cannot break the resistance, the divergence works and the 3 specified targets of the harmonic patterns that have been completed in the ranges of 21.69113-21.59853-21.52730 can be considered as targets. If all of them fail We have the important range of 21.40745 in the intersection with the B area of the pattern, which is considered a strong resistance.
Silver Multi-Timeframe Analysis 30.01Hello Traders,
welcome to this free and educational technical analysis .
Silver is currently testing a very strong weekly support/resistance area amd after this massive runup there is the possibility that we will see a short term correction away from the zone.
On the daily timeframe you can see a beautiful distribution phase, where the market is starting to create lower highs and lower lows, so I am now just waiting for a break of the very strong previous support zone and then a retest,
and then I will definitely enter a short to capitalize on the continuation to the downside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
XAGUSD Next MovePair : XAGUSD ( Silver / U.S Dollar )
Description :
Bearish Channel as a Corrective Pattern in Long Time Frame and Made a Breakout of the Upper Trend Line
Divergence
Break Of Structure
Consolidation Phase in Short Time Frame wait until it Breaks the Upper Zone or the Lower Zone
Completed the " 12345 " Impulsive Wave and Corrective " ABC " Wave
XAGUSD 16-20 Jan Next MovePair : XAGUSD ( Silver / U.S Dollar )
Description :
Rising Wedge in Long Time Frame and Rejecting from the Upper Trend Line with Strong Bearish Price Action as Impulse
Making Correction in the Form Bullish Channel and Rejecting from the Upper Trend Line
Fibonacci Level - 78.60%
S- R Level
Resistance Level
Divergence
Completed " ABC " Corrective Wave
Silver Analysis 01.01.2023Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
I will personally reply to every single comment!
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset: