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Xagusdshort

Silver testing major resistance, prepare potentially strong dropSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. The overall momentum remains overwhelmingly bearish. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). RSI (34) has made a similar break of its long term ascending support-turned-resistance line signaling that a change in momentum is expected. We are also seeing strong bearish divergence vs price which signals that a potential reversal is impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver on pullback resistance, possible re-entry pointSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver has broken major support, prepare for a possible drop!Silver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017. This has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver being squeezed for a major move!Silver is seeing major resistance below 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) while an ascending support line continues to hold price up and squeeze it against this major resistance. A major move can occur in both directions in such scenarios. If price manages to break and close below our ascending support line, this could trigger a strong drop towards our major support at 16.21 (Fibonacci retracement, horizontal breakout level). It is worth noting that Gold which is positively correlated with Silver is also similarly below major resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, watch for a reversal!Silver is testing major resistance at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reversal could potentially occur at this level to push price all the way down to 16.21 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 96% and a recent bearish exit signals that further downside movement could occur on price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, possible upcoming reversal! Silver has started to react strongly off a major resistance level at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reaction could possibly occur at this level to drive price down to at least 16.21 support (Fibonacci retracement horizontal breakout level). Our next major level of resistance is at 17.64 (78.6% Fibonacci retracement, breakout resistance level). Stochastic (34,5,3) is seeing major resistance at 96% and a corresponding reaction could occur at this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver approaching major level of resistance, keep an eye out!Silver is approaching a major level of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this price to push price down to support at 15.62 (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 16.63 (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing major level of resistance at 99% where a corresponding drop could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver approaching supply area, could a reversal occur?Price is approaching an area of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. Our next level of major resistance is at 16.63 (38.2% Fibonacci retracement, horizontal pullback resistance) and our next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 99% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver approaching major resistance!Silver is seeing major resistance at 16.313 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. The next major level of resistance is at 16.639 (Long term 38.2% retracement, horizontal pullback resistance) and the next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is also seeing major resistance below our 99% level and stochastic could rise to that level before having a corresponding reaction. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
XAGUSD : GIVE IT TO MEHi traders, Silver has been giving us bearish signs lately. Its movements (bearish wicks) are showing us selling pressure up above. Mix this with what it now looks like a downtrend channel.. and we have a potential bearish run ahead of us. DXY just can't seem to really fall at the moment which is not a positive outlook for silver. As we all know, commodities like to follow each others movement. Gold is also doing the same thing as silver. This brings us to believe that we might see silver going down yet again. Here's what I'm thinking : XAGUSD SHORT ENTRY : 17.112 SL : 17.297 TP : 15.86 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
FX:XAGUSDShort
by ScottMescudiForex
2
XAGUSD-Silver Medium TermMy previous recommendation on Silver to short at 17.30 for a target to 16.85 was successful, For now a top of the head & shoulder pattern is completed, expecting for the right shoulder to be formed to confirm the pattern. Intermediate trend looks to be bearish now as it broke the multi-days bull channel & all momentum indicators are turning bearish so a lower top is needed for confirmation of the bearish trend. Strategy: Short on a bounce around 17.03-22 for a target to 15.87, tight stop above 17.41
FX:XAGUSDShort
by UmarAbdurRehman
Silver respecting Weekly Resistance trendline Over trend is bearish so far it seems to be respecting higher the trendlines based on higher timeframes, Still no major bearish action yet but this could be the start of a Downtrend Continuation SL's and TP are on the chart but please use risk management! Waiting for more lower highs indicating bearish price action and seeing how much it pulls back. Stop hunts seemed to have occured during london patience is key! Looking for entries all next week but watching friday and sunday. SL: Above 17.361
FX:XAGUSDShort
by HeliosFX
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