Xagusdidea
Good Morning everyone, XAG WILL GO SHORT SOON XAG was on an uptrend from February 7 until mars 9 and it shows a reversal in mars 10 with a respectable long bearish candle, but after it started bouncing on and off the 24.00000 and 25.80000 level for quite a while what made the head and shoulders pattern a little bit of but with that trend reversal and the high volume resistance level at 25.04586 it will differently go short
for me I am waiting for the price to hit the high volume level that we talked about ( the line in purple ) then I will place a sell order
please do not trade 100% based on my technical analysis or my ideas do your technical analysis first OANDA:XAGUSD
have a great day everyone :)
XAGUSD Short with 3 listed confluencesList of confluences:
1: Head and Shoulders
2: Trendline Breakout
3: Key level break and retest
RR for this particular trade currently stands at 4.9x to 1.
Silver can reach 28 in medium termLike its bigger brother, Silver is also strongly bullish and from my last suggestion to buy dips around 25 is up to 1k pips.
Also, it has risen so much I think there is much more in cards for XagUsd and it can reach 28 easily in the medium term.
So going forward traders should look to buy dips and an ideal place for this can be the 25-40-25-50 zone
A drop under 25 negates this scenario
Silver- Resumption to the uptrend is pretty clearAlso Silver is in high demand these days and the first signal that we can have a resumption to the uptrend has come on 21st February with a break above descending trend line resistance. 24.50 resistance zone was the next to fall and the price corrected after reaching 25.80 resistance.
Yesterday we have a strong green candle and now the price is in correction.
In my opinion, is pretty clear that Silver has resumed its long-term uptrend and this correction can be used as an opportunity to buy at better prices.
25usd can be a good place for this and medium-term traders can target 28
This bullish scenario is negated only by a daily close under 24 zone
silver Silver ( XAGUSD ) is still in the sideways move since mid-2021 ,Silver is trying hard every time to penetrate the resistance levels especially the 50 EMA line
Today the Silver (XAGUSD) is trying to close above the 50 EMA line for the first time in February . if the Silver ( XAGUSD ) can close above the 23.08 level it will be a buy signal and the next resistance levels will be 23.6 and 24.44 which is the main short term resistance level (200MA blue line).
Silver (XAGUSD) SetupSilver (XAGUSD) is all ready to break the overhead resistance area. It has already tested the falling resistance area and likely to break this time.
We are expecting a little correction from here but mind you this will only be a buying on dip opportunity as it will break the resistance on next go.
Trade your levels accordingly.
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XAGNot financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
Silver- Sell rallies is my strategyIn my last Silver analysis I said that above 23 is strong sell zone for Silver, and after 3 attempts to stay above this figure, Silver has dropped hard, confirming these attempts as false breaks and breaking back under 22.60 support.
Now XagUsd is trading at 22.15 which is minor support and I expect continuation to the down side.
My medium term target for Silver remains 19usd, but short term traders can see also 21.50 support as a confortable target.
Sell rallies towards 22.60 is my strategy for Silver and the price back above 23 would negate this scenario
XAG NEAR FUTURE PREDICTIONS (1HCHART)Technical Analysis Summary
XAG/USD
TREND ANALYSIS
We have 2 Downtrend in red color (Internal and long term)
We have 1 Uptrend in green color (Internal Uptrend)
Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend).
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels (ONLY FOR VISUALS).
The Yellow SUPPORT and RESISTANCE Levels are levels already tested and are not an entry level I added it only for explanation purposes to show my strategy.
Sorry I did not post lately since I had covid
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
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XAGUSDAs silver moves between $ 21.5 and $ 25.5, I expect the price to rise to the previous level. Are you agree?
Silver is entering my sell zoneIn my yesterday's commentary on Silver, I said that around 23 is the best place to sell.
If we look at the h1 chart, we can see that since the 21.50 low and daily support, Silver has started its rebound.
However, the rise is overlapping, not impulsive, and is drawing a rising wedge on our short-term charts.
At this moment Silver is entering my sell zone between 22.80 and 23.30 and I expect gains to be well capped here.
Confirmation of a potential drop comes with a break under wedge's support and the target can be the recent low.
Also, a reversal from this point will make me strongly bearish Silver and in my opinion, this 21.50 can fall also if you get there.
Silver above 23.50 would negate this scenario
SILVER (XAGUSD) | The best area to fall🔥Hello traders, Silver in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
The wave count performed for the silver weekly time creates several movement scenarios, but in all of these scenarios an upward movement the size of wave (1) is confirmed in the current analysis.
In the current analysis, wave 1 is composed of wave 5 at higher times. We are inside wave 2.
Wave 2 is inside wave a and wave a forms its wave in the form of five waves in the form of triangle, and wave 5 is formed around Fibo 0.38 or the lower side of the triangle, and then wave b is formed. And correction for wave a begins.
Wave b is relatively time consuming and long considering the time spent on wave a and in terms of price it can be guessed that Fibo is moving 0.618.
If the move exceeds Fibonacci 0.618, it can be said that Wave 2 has already been completed.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
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Will Silver drop to 19 zone(3000 pips drop)?Since August, Silver is trading in a 10-12% range, with a low just above 22 and a high in 24.50 zone.
At the beginning of November, we have a false break above resistance and a quick drop to support afterward.
Usually, false breaks lead to strong moves in the other direction and I don't expect this time to be different.
In conclusion, in my opinion this support will fall, and XagUsd has a clear road to the next important support at 19 zone (a more than 3000 pips drop)
I will remain extremely bearish Silver as long as the price is under 23.50 and traders should look to sell rallies towards that zone.
Best of luck!
Mihai Iacob
P.S: Write your comment or share your chart and analysis in the comment section. Also "Likes" are much appreciated
Silver can drop to 21.50In my previous Silver analysis I said that XagUsd is more bearish than Gold, arguing that after the false break of the H&S pattern, the price would also break the trend line support and fall to 22.50 support. And, indeed, the price fall even more and found support at 22.
Now we are in a normal rebound and 22.80-23 zone should act at resistance at this point.
Rallies towards that zone should be sold and the target can be 21.50 support.
Only strong buying above 23 would change my bearish opinion
Silver Forecast: Quiet Session After Previous MeltdownSilver markets finally stabilize during the trading session on Thursday as the markets finally slowed the massive selling pressure that had been so pervasive the last several sessions. The markets continue to pay close attention to the US dollar, and what it is doing. Silver is very sensitive to the greenback, as it is priced in that currency, and the contract tends to be very volatile to begin with. The silver market is notorious for being erratic, so the most recent move will not have been a huge surprise.
Keep in mind that the silver markets will move not only based upon the dollar, but also the industrial use case. If we continue to see the potential lockdowns around the world, then it stands to reason that the industrial usage will be cut down. The markets continue to focus on momentum more than anything else, as the fear trade took over. I don’t really like the idea of buying silver, but a bounce would not be a surprise to say the least. The silver markets can have a rip to the upside with lack of liquidity, especially with it getting close to the holidays, which are thin trading – the later we get into December, the more likely we are to see a lot of jumps and bounces.
I wouldn’t be bullish until we get above $24, which would take a lot of effort to get there. In fact, I would be a bit surprised to see that happen, but the most likely of prospects would be that we bounce and then show signs of exhaustion that I will be selling. The silver market would desperately need to see a big opening trade come back into vogue, and therefore we would need to get a lot of ‘covid fear’ out of the psyche of the markets.
The jobs number coming out of the United States on Friday will cause a lot of noise, mainly due to its effects on the greenback. If the silver markets jump, I will be looking at a chance to sell early next week. On the other hand, if we were to break down below the bottom of the range for the last couple of days, then I anticipate that the market will go looking to challenge the crucial $22 level.
XAG/USD (SILVER) WILL PUSH LOWER BELOW $22.6XAG/USD (SILVER) will push lower to make a new low below $22.6 and after that, it can push a little bit higher, but not above $23.7. Then it will go for one deep correction as a continuation of wave (2). In the alternative scenario (marked by red alpha numerals), we have already finished wave (2) @ $21.4. So right now, it's running expanded flat, and will soon rise for minor wave 3.
#XAG/USD #SILVER #ELLIOTTWAVE
Silver- Best place to sellIn my past Silver analyzes, I said that XagUsd is more bearish than Gold and the H&S trap confirmed this scenario.
Now, as in Gold's case, Silver is in a small correction and this can give us the opportunity to open short trades at better prices.
24 zone I expect to be very well offered and there we should search for selling opportunities.
Only Silver above 24.80 would change my bearish opinion
Silver- Strongly bearish under 24.80Yesterday I said that Silver is more bearish than Gold, and indeed, although it has risen, it could reach the last top
As you all may have seen, we have a clear H&S pattern with the neck-line at 24.80, which is broken at this moment.
Although this means upward momentum, the price is stalling above this neckline and looks more like distribution at this point and could be a false break.
Silver back under 24.80 (the neckline) is strongly bearish and confirms the false break.
In this case, I expect acceleration to the downside and Silver to drop to at least 23 zone (around 1800 pips)
My scenario is valid as long as the price stays under 25.60 on the daily close bases
Silver- More bearish than GoldLike its bigger brother, Gold, Silver also has a good start this month, with the price rising around 2500 pips or around 10%.
However, after breaking above the neckline of an H&S, the price stalled and lacked strong continuation. Instead found a strong ceiling at 25.50 and yesterday's rally above resistance for Gold wasn't matched with a rally above 25.50 for Silver.
This consolidation above the neckline looks like distribution to me and a drop under 24.70 could accelerate losses towards 23 zone support
I will look to sell rallies and a daily close above 25.50 would negate this scenario
Silver- Where to buy? After it has reached 24.70 zone resistance, Silver has started to correct October's rally and is trading now at 23.43.
Slightly under 23 is strong confluence support given by 61% Fibo and horizontal support and here we can look for opportunities to buy the market for a revisit of resistance.
Silver Market Bullish Divergence Hello everyone, as we all know the market action discounts everything :)
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Silver XAG/USD begins the week in a positive way, rising 0.97%, at trading at $24.54 but have dropped to $23.916 today and the market sentiment is upbeat, portrayed by rising US stock indices, recording gains between 0.12% and 1.01%, contrarily US T-Bond yields slide, with the 10-year note rate falling one and a half basis points, sitting at 1.639%.
Oscillators on the daily chart – though have lost positive traction – are still holding in the bullish territory. Hence, any further decline might still be seen as a buying opportunity near the $23.55 region. This should help limit the downside near the $23.20-15 strong resistance breakpoint.
A Bullish divergence has been spotted between the market and different indicators that show the potential for an upward movement in the market soon.
Possible Scenarios for the market :
Scenario 1 :
The market has dropped in the last 2 days from $24.80 to $23.88 this Bearish move has a small possibility to continue until it reaches the support line located at $23.16 where a battle will happen over control between the Buyers and Sellers over control, If the Sellers were able to win we could see a further drop that will reach the $22.33 level before gaining upward momentum.
Scenario 2 :
A Bullish divergence has been found between the market and the RSI, MACD which shows a strong potential for an upward movement happening soon that will be headed to the first resistance located at $24.78, and after breaking out that level the market will push to the second resistance line at $25.53.
Technical indicators show :
1) The market is above the 5 10 100 and 200 MA and EMA showing a good bullish movement for the long term and daily range but still below the 20 and 50 MA,EMA that indicates a small drop for the weekly range.
2) The MACD is above the 0 line indicating a Bullish state in the market with a positive crossover and a Bullish divergence.
3) The RSI is at 56.27 showing good strength in the market with a Bullish divergence that indicates a rise in the market soon.
Weekly Support & Resistance points :
support Resistance
1) 23.259 1) 25.109
2) 22.207 2) 25.907
3) 21.409 3) 26.959
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
