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Xagusdshort

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.
FX_IDC:XAGUSDShort
by nickmusey
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!
FX_IDC:XAGUSDShort
by KillAWhale
1
Bearish view on Silver : Naked AnalysisGood morning traders, Silver broke 2 trend lines and my bias is bearish if price holds below 20 . If the formation of Wolfe Pattern is accurate, we should see a drop till 16 area. You can subscribe to my mailing list for FX Alerts : eepurl.com 6 Trading Rules : 1. Never add to a losing position . 2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit 3. Think like a fundamentalist, trade like a technician . 4. Keep your analysis simple 5. Start small and increase exposure when trend is confirming your analysis 6. The hard trade is the right trade Josep Pocalles www.realisto.net
FX:XAGUSDShort
by Realisto_FX
2
Negative divergence warning to longs in overcrowded Silver tradeNegative divergence in momentum indicators including the RSI shouldn't be ignored by longs in the overcrowded Silver trade. Silver currently trading around 20.20 Selling has been seen 50 cents higher around 20.70 over the past month Support levels: 19.09 (38%), 17.83 (62%), 16.94 (78%) Resistance level: 21.12 (high pivot) Downside target: $18 (and possibly a test of the upward sloping 2016 trend line currently above $17) Trade management: Sell within 20.17-76 with a stop (on daily close) above 21.12 For further insight and discussion please contact me via Tradingview or LinkedIn, on Twitter @James_LVDTA, and visit www.lexvandam.com to become a member of the Trading Club.
FX:XAGUSDShort
by JamesHelliwell
6
Like Gold, Silver May Be Headed Down As WellA couple of days ago, I spoke on a potential downward reversal in gold but have we just formed a double-top in silver also? From all appearances, we have done just that...which means that silver prices are likely headed down. We’ve reached the top of a 5-year trend channel, a reverse trend channel at that. In early July, prices also touched the top of a short-term reversal trend channel. On a side note: For those who are unaware, reverse trend channels work really well for measuring a market who's movement has become really steep. In my experience, reversal trend channels are highly accurate at anticipating reversals. Another indication of a bearish change in behavior is that the last down-wave had really large volume while the responding up-wave contained only half the volume of the down-wave, suggesting that supply is entering the market and demand is tiring. Friday's trading session also had a wide price range, indicating ease of movement, AND we managed to close near the low. Result: Bearish First level of Support: If $19 is taken out, I'd look for major support in the $18 area. Target: If this is a complete turn-around, prices can go in the $14 area.
FX:XAGUSDShort
by CarterBoyFX