Xagusdlong
XAUUSD: All set for a bullish upward movementI believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favorable trade setup and plans.
More high possibility for Silver's upside graspFreshly trading its prices right in-between the 8, 21 EMA and 200 SMA, the XAGUSD (Silver) decidedly formed a bullish fakey pin bar suggesting for the continuation of prices higher. This is a strong signal I'm willing to enter on. despite my ongoing trade.
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!
Time to long XAGUSD (Silver)It seems that silver has come to an old resistance.
I've been watching its descent for a long time waiting for this crucial point to come and now that the resistance has not been overcome it's time to get into action.
I see a good chance so I opened my long position on xagusd
XAGUSD (Silver) Long IdeaToday’s trading setup is coming from the XAGUSD (Silver) market. I have spotted a daily pinbar, which has formed just above a support level of 16.500. I am looking for an intraday formation to possibly go long. A good entry point would be 16.750. Currently the price is trading slightly higher, but am looking for a candlestick confirmation. My stop loss would be placed just under 16.20. My first target would be the level of 18.000. The secondary target could be the level of 19.000. Just be extra careful with this setup, because we are in a minor downtrend and the next support level is 15.500.
A bounce in silver is coming !After 10 days down Silver is very oversold here while gold can still hold above 1260 USD.
Get ready for a bounce towards the 50MA/200MA around 18.00 USD.
After a bounce the consolidation could continue until the summer.
Potential short-term long play on silverYes, that's a confusing title.
This is a potential shorter-term long play. On the 1H chart, XAGUSD is at an interesting level. The horizontal blue line indicates the previous swing low and it clearly acts as a support level that seems to hold. We can see a relatively nice downtrend with multiple swings, while the trend is now in the overextended territory as well (I haven't added Fibonacci extension levels, but it's well over 200% now).
However, it appears to be changing direction. From the past two trend waves, we can see that there's RSI divergence. The initial test of support (after the French election result) was strongly bought but the market faded the push higher and wanted to go for another test. The second test of the support level went the same way up, visible by the strong bullish bars that followed it. This created a double bottom, one of our favourite reversal chart patterns.
By now, this starts to look like a classic rounding bottom reversal. Currently, the price is testing lows again and I hope that it makes a higher low, as this would confirm our suspicion that a reversal is underway.
What I'm still waiting for is the momentum push upwards. A strong bullish bar, potentially taking out some of the previous ones, would be the trigger for me to take a position. If the price does decide to move lower, we just do nothing. For now, as always, we're in waiting mode.
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SILVER (XAGUSD)Having broken the 50% retracement, silver is likely to march onwards in pace with gold.
Longer term sentiment is bullish with stocks in silver producers Coeur D Alene Mines (CDE), Silver Wheaton (SLW) and Hecla Mining (HL) have gained roughly 90% in the last 3 months
Silver about to rallyWe are about to start a long term silver rally where silver could hit near 100 or higher.
continuation of the 3rd wave ?big move about to happen? I don't understand the fundamentals behind it. i only trade price action so if someone who agrees (or disagrees) could comment down below on the possible fundamentals that could cause this move let me know. #one year in the game
Silver count continuedStay long in the channel .. this pattern looks like a bull flag which tends to break up wards.
Stops can be moved up to just BELOW 18.20 as that is the last 4th wave now.. best to keep it under the trend line if you can ..
Invalidation is a break of 17.913
Safe trading everyone.
Silver count long whilst in channel moving your stops upThe 4th wave there is overlapping the first wave a little (breaks the rules).. however for the purpose of this count lets just accept that it is the fourth wave.. on retrace it should go back to the trendline to test it again and the blue arrow should be the first of the more powerful moves up.
Stops should be below the trendline - and should give it some over shoot room... at this stage around 18.154 looks safe..
If price breaks under the trendline best to sit out.
Invalidation of this count - 17.919 -
good luck be careful with your trades
Silver Short on E LegLooks Bearish As i can clearly see bears selling at top and no sign of bulls here same for gold as well short at price around 18.050 is nice price as this is very expensive now and no one like to hold this trade on long side.
Good luck Muze(xag/usd)
XAGUSD looking for LONGXAGUSD has been consistently growing on the Weekly timeframe:
We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement.
Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40
The main trendline (violet in the chart) should anyway hold on the Daily.
