QI1! trade ideas
Silver: Close Call 😮💨That was a close call! Silver has missed our alternative scenario by a hair’s breadth by popping above the resistance at $25.49. As it has gotten its act together just in time though and has drawn back again, we still expect silver to return into our pink trend channel to move downwards below the support at $21.41.
However, although it has been narrowly avoided, our alternative scenario with a probability of 45% remains. If it prevails, silver should rise into the blue zone between $25.88 and $29.34 first before turning around again.
Silver Futures (SIK2022), H4 bullish continuation!Type : Bullish continuation
Resistance : 25.660
Pivot: 24.325
Support : 23.910
Preferred case: Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 24.325 in line 78.6% Fibonacci retracement towards our 1st resistance at 25.660 in line with 100% Fibonacci Retracement . Our bullish bias is further supported prices trading above our ichimoku clouds .
Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 23.910 which is a graphical swing low and also in line with 100% Fibonacci extension .
Fundamentals: Amidst highest inflation recorded for the most developed countries, we are likely to see crowds flock to safety on safe haven assets such as precious metals, supporting a overall bullish bias. As the renewed attacks and scheduled negotiations are on the way, we would expect much volatility from the asset.
Silver Futures (SIK2022), H4 bullish continuation!Type : Bullish continuation
Resistance : 25.660
Pivot: 24.325
Support : 23.910
Preferred case: Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 24.325 in line 78.6% Fibonacci retracement towards our 1st resistance at 25.660 in line with 100% Fibonacci Retracement. Our bullish bias is further supported prices trading above our ichimoku clouds.
Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 23.910 which is a graphical swing low and also in line with 100% Fibonacci extension.
Fundamentals: Amidst highest inflation recorded for the most developed countries, we are likely to see crowds flock to safety on safe haven assets such as precious metals, supporting a overall bullish bias. As the renewed attacks and scheduled negotiations are on the way, we would expect much volatility from the asset.
Silver Futures (SIK2022), H4 bullish continuation!Type : Bullish continuation
Resistance : 25.050
Pivot: 24.040
Support : 23.765
Preferred case: Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 24.040 in line with 61.8% Fibonacci retracement towards our 1st resistance at 25.050 in line with 61.8% Fibonacci Extension. Our bullish bias is further supported RSI being at levels where bounces previously occurred and our MA 50 & 200 forming a Golden cross.
Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 23.765 which is a graphical swing low and also in line with 78.6% Fibonacci extension .
Fundamentals: Demand for commodities caused by tension built-up Russo-Ukraine crisis has resulted in a long time rally on the precious metal. The situation remains fluid as we await negotiations at the Belarusian-Ukrainian border, we urge investors to remain on the side-lines.
New trading strategy upgrade - Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE, my trading strategy is Price Auction - using Chart only, your comments are highly welcome. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. Trade well & Good luck guys.
Silver's open interest v2Silver - please understand where you are now.
Last time this setup seen was in 2005.
But this time we have more fuel...
{insert rocket ship}
Sliver SI1! Long Bullish Elliott Wave long term analysis
A perfect EWcount for the start of a long term bullish W 3,3,3
All Macd´s cross were for wave 1 end and the beginning of a wave 2.
All waves 1 were either 0,382 or 0,618 of the 5 waves formed to complete the wave 1 of next degree.
The charts speaks for itself!!!
good luck!
SILVER SI1! Bullish Elliott Wave long term analysis
A perfect EWcount for the start of a long term bullish W 3,3,3
All Macd´s cross were for wave 1 end and the beginning of a wave 2.
All waves 1 were either 0,382 or 0,618 of the 5 waves formed to complete the wave 1 of next degree.
The charts speaks for itself!!!
good luck!
Silver lags for now, wait for it...dg78 asked me about Silver... so a quick look here.
The Silver Weekly chart is lagging Gold, but does appear to consolidating since mid 2021. Trendlines are tilting downwards as price appear to be testing harder each time. Last week closed above the 55EMA on a nice looking bullish candle that gapped up and pushed to close above the 55EMA. MACD in this instance is also about to cross into the bullish zone.
Lagging Gold, but can turn up fast, like previously.
The Monthly chart shows a pennent/flag pattern with the long term target of about 41.20 in mid-2023. Noted that the retracement since the Aug 2020 top did not reach the 55EMA as a support, which can be viewed as a bullish bias indication.
Not yet ripe, but when it runs, it should run fast with much potential, IMHO...
Silver: Into the Green 🌱 🌿Silver needs to relax a bit and as its last foray into the green was too short to enjoy, it has treated itself with another trip. We expect silver to extend the stay until the upper edge of the green zone between $23.69 and $24.43, where it should finish wave 2 in green. Then, it should turn around and leave the green zone to go down below the support at $21.94 and afterwards even further below $21.41.
Still, there is a 38% chance that silver could surmount the green zone and rise above the resistance at $24.75. If it makes it even above $25.49 afterwards, it should continue the ascent.
Silver MCX biased IdeaAs far as my understanding is about charts, I personally believe silver can be a great shorting candidates from resistance zone with proper price confirmation.
SI1! Short : The Right ShoulderWe forecast a downward movement owing to the shooting star candlestick pattern, as well as the head and shoulders pattern and the retreat on the 61 percent Fibonacci retracement.
Week 06 Updatesee my watch list where I am long or short
www.tradingview.com
LONG:
after thursdays inflation data report, many re-entry longs where possible, but non of the long trades got stopped out
New long is in theory Silver but palladium and gold are more bullish at the moment. lets not trade all markets but stick with crude oil and soybeans for long trend trades :-)
SHORT
gas still in short trend (stop is trailed above prior days high)
silver market analyseHere we see a support of the buyers that mean that will be impulsion of buying position a
Long silverLong Silver @60500
SL will be below 58100
58200 is the last support for the Silver and we will see the reversal from that point if it comes , else hodl
Silver started a new bullish cycleSilver turned up off a new cyclical support and started a new Up cycle on Daily
Silver's fuel.If silver's price action decides to run upwards, there is lot's of fuel as defined by the open interest.
Again, no where near fear of missing out levels seen in end-game parabolic melt ups.
Short on breakWatch for breakdown on Silver - 1H close below trendline
Expectations :
1. Looking for similar action to the one posted here:
2. Whereby - weakness on this current bounce and a pullback or a small ranging action (on lower time frame) around 22.75 -22.85 zone or below
Price targets :
22.15/20 - previous low on the 1H candle 16:00 UTC on 22/1
22.00 - next support level from 6-7 Jan lows
21.45/50 - below that is a 2 times low on 1H candle on 29/9 and 15/12
However should 1H close above previous high of 23.06 this MIGHT be invalidated, will update accordingly
*Prices and trendline drawn based on Silver Continuous Futures listed as on COMEX, prices may differ from your broker especially if you are trading CFDs or other forms derivative
**All timing based on UTC+0
Sell again after prior days inside barSilver continues the downtrend
and Palladium ends the longtrend
COT Commercials Index is sowing weakness for the Silver market
Trailing the stop now above prior two days high...
dxy gold silver 2.1.22 gold dxy silver follow-up trades from yesterday. Ignore last 5 minutes.....no time to re-do the video.
