Silver goes SouthIf you are from those of my friends who short silver
here are possible targets , and priceaction zones
Xagusdshort
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)
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).
Silver Broke the Daily Structure, Now What?Silver broke the structure. Most probably it will hit 127% of Fibonacci extension. However, I will wait for a retest to the broken trendline, or a flag or a pennant to enter this trade.
Thank you.
Silver looks like it has had a failed breakout attemptDescending wedge still appears to be in play. Silver attempted to break out from it today but didn't manage to do so with conviction.
Silver/USD IdeaIf Silver breaks 18.186, Chances are it will be a good Short position. Ration 2.79%. but keep an eye on because of US Election today.
XAGUSD BUYLong, take @ your own risk good R:R in my opinion and shorts are now extended, this is a short term trade I am looking to enter during the asian session, as long as prices remain above 50% fib before the asian sesh i will be looking to go long around those levels. if your an aggressive trader you can enter @ current levels.
But do so @ 30% of your regular lot size. Remaining 60% should be entered @ 50% fib
***This does not constitute as investment advice, your responsible for your own losses and gains, this is just my Personal view on the market
Silver Targets 18XAGUSD is almost ready for another drop to make wave (Y) which targets 18. For more safe entry, sell the breakdown of the lower band of the triangle.
(4h) Bearish Structure BreakoutFX_IDC:XAGUSD
Shark printed at 241% extension, now fighting back at 224% also the 50% pullback.
For those who are not inside this one, wait for structure breakout correction before jump in.
AB=CD will be printed above the 38%, and there, one opportunity to close half position size and to move stops to break even.
Safe Trades;
open.spotify.com
XAGUSD retracement to 19.45-19.1 areaXAGUSD retracement to 19.45-19.1 area, then north to broke long time support of $21
Potential SHORT for SILVER XAGUSD is in a possible 4th wave in an impulse Elliott wave series. This correction has potentially run its course indicated by the high level RSI. I will watch for the correction to either continue to the upside or begin the 5th wave and immediately retrace down to the 1st trend line. If it is indeed in an impulse Elliot wave, then it should continue its decline breaking the 161.8% Fib level as well as the 1st trend line into the demand zone with a possible rebound on the 2nd trend line. A close below the 50 MA will be a very good reassurance of a confirmed 5th wave downtrend.
XAGUSD SHORT - FRACTALSFound some repeating fractals in this medium-long term uptrend of Silver
As you can notice we have a repetition of fractals based on Fib levels. Every short-term uptrend happens after a retracement to 61.8% levels are reached.
I expect a move towards 18.000/18.250 range area (or even lower if short term trend confirms itself) before a new massive uptrend.
As always, be careful, set a proper stop loss, never bet what you cannot afford to lose and stay positive!
