Wave 2 could be doneShould be finishing wave 2 on Monday night in the futures and by Tuesday morning we SHOULD be rallying to begin wave 3.
QI1! trade ideas
Silver - Swing TradeSilver forming a triangle and price trying to break out. Any confirmed break upwards should launch another 5 wave impulse move. Price may come down and try to retest the upper trendline of the triangle but I see bullish momentum so it should bounce upwards.
Disclaimer: I have long positions in Silver.
Silver - Swing tradeSilver forming a triangle and price trying to break out. Any break upwards should launch another 5 wave impulse move.
Disclaimer: I have long positions in Silver.
Silver has a Great chance to Reach 300% or 30.000 Points.Im pretty sure that silver will reach 30k.
so its time now for you to invest in silver buy side.
my yesterday analyses were true as well.
so try my tips and earn profit.
Revisiting my silver roadmap from January.Odds for my bullish roadmap from January to playout increased once silver closed above that black, slightly descending line.
Silver is still above the "wall of support".
This tells me the burden is now on the bears to undo this.
Until then, this looks bullish.
#silver
Silver Gaining demand Silver prices are gaining momentum
After giving multiyear breakout, commodity is trading at retest Level and booking bullish
one should plan to invest for long term and as a diversified portfolio item
Disclaimer: This is not any buy or sell recommendation, please consuld your financial advisor before taking any investment decision
BULL FLAG IN SILVER Silver (1-Hour Timeframe)
Breakout Alert: Silver has broken out above 85,000.
Target: Anticipating a move higher by 500- 800 points
Pattern: Potential bull flag formation in progress.
Risk Management: make sure to put stoploss
Disclaimer: This is a technical analysis based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.
IF THIS WILL HELP YOU PLEASE LIKE THE POST ❤️
Silver - Near term projectionIn my opinion I believe we have a wave 3 in progress and price is currently stuck in a channel. Any breakouts from this channel will culminate in the end of wave 3. The retest will perhaps be wave 4 and then wave 5 should start. A correction will then follow and a new 5 wave impulse should then develop.
Disclaimer: I currently hold long positions in Silver.
Silver MCX: Bullish Momentum Builds Above Key Support LevelsTechnical Outlook for MCX Silver:
MCX Silver has shown strong bullish momentum, bouncing off the 200-day moving average (MA) near the ₹79,601 level, signalling a potential trend reversal. The price action indicates that silver is consolidating above the 50% Fibonacci retracement level of ₹79,601, which aligns with the 200-day MA, adding further strength to this support zone.
The recent recovery from this support level has pushed prices above the ₹81,000 mark, indicating the potential for further upside movement. The next immediate resistance is seen at the 61.8% Fibonacci retracement level of ₹83,300, a critical level to watch for a potential breakout. A sustained move above this level could open the door for a rally toward the ₹88,864 zone, corresponding to the 78.6% Fibonacci retracement level.
On the momentum front, indicators are turning positive, with the RSI rebounding from oversold levels and the MACD showing signs of a potential bullish crossover. Additionally, the low volatility environment suggests that a significant move could be on the horizon, potentially favouring the bulls if key resistance levels are breached.
**Action for Traders:**
**Buy** at the current rate, with an **add above ₹83,300** (61.8% Fibonacci retracement level). Set a **stop loss at ₹79,600** (50% Fibonacci level). Target **₹88,600**, which aligns with the 78.6% Fibonacci retracement level. The trade is further supported by ongoing geopolitical tensions centred around Middleeast, which could boost precious metals. Additionally, the gold-silver ratio is likely to drop from the 89/90 level, suggesting that silver will outperform in the near term.
Silver short termCorrection wave B is currently on going. Once corrective Wave C finishes, Silver should resume its climb upwards.
It seems likely that silver has bottomed, at least for nowSilver is rallying from strong support just above $26, while the gold to silver ratio is dropping from resistance at trend line.
Bottom or Bear Flag?Precious Metals, Today's Focus
The markets are highly emotional and started Wednesday strong before ending the day in the red. The Dow Jones Industrial Average closed down 0.6%, while the S&P 500 slid 0.8%. The Nasdaq Composite ended the day down over 1%. Gold spent much of the day in positive territory, while Silver took clues from Copper, and futures prices seemingly folded into the close.
Stock futures are pointing lower as investors await initial claims data today: 241k Exp vs. 249k last week. JPMorgan now sees a 35% chance the US economy will enter a recession this year. JPMorgan sees the Fed cutting rates by half a percentage point in September and November. Traders await wholesale inventory figures and a 30-year bonds auction of $25 billion.
Today's Economic Focus
Unemployment Claims - Forecast 241k Previous 249k
(The number of individuals who filed for unemployment insurance for the first time during the past week)
Final Wholesale Inventories m/m - Forecast 0.2% Previous 0.2%
(Change in the total value of goods held in inventory by wholesalers)
30-y Bond Auction
FOMC Member Barkin Speaks
Gold
Technicals - (December - Z)
Gold futures continue to remain constructive as futures see a series of higher lows on the daily chart. Futures see their first major support at the 50 DMA at 2422.6, followed by psychological support at 2400 down to the trend reversal point at 2398.2. Futures will need to retrace the August 6 highs of 2459.5 in order to attack the bull trade trigger at 2482.0
Gold (Dec)—Daily stochastics are correcting, indicating a lack of fresh buying. DMI + remains narrowly over DMI -, indicating the market remains more neutral in posture. The average true range (ATR) is 42.0 per day.
For Trend Traders
Bias: Neutral/Bullish
Resistance: 2482.0*** (Bull trade Trigger), 2500*** (Psychological), 2537.7*** (Contract Highs)
Pivot: 2454-2450***
Support: 2422.6 (50 DMA)***, 2400**(Psychological), 2398.2*** (Bear Trend Trigger), 2345-2350***
Silver
Technicals (September - U)
Silver futures bounce in the overnight session after testing the 200 DMA at 26.58. The Gold/Silver ratio continues to uptick with 90:1 and will most likely need a bounce in copper inorder to play catch up on the Gold market.
The first pivot is at 28, followed by the first resistance at 29.08. Traders must see a move above the 50 DMA at 29.94 to trigger ETF inflows and momentum traders.
Silver (Sept) - Daily stochastics are correcting back into oversold territory. DMI - is above DMI +, and the ADX is rising, indicating that the market is back in a correction phase. The average true range (ATR) is 97 cents per day.
For Trend Traders
Bias: Bearish/Neutral
Bear Trade Trigger: 27.975
Bear Trade Trigger Date: July 25
Trend Reversal Point: 29.85
Resistance: 28.00**29.08*** (July 25 High), 30.00***(Psychological), 29.91*** (50 DMA), 29.85** (Trend Reversal Point), 32.00-32.50****
Pivot: 28.00
Support: 26.58**** (200 DMA)
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Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
LONGING SILVER - QUICK DAY TRADELonging silver from a pullback after strong move up. Everything you need to know about entry, stop and tp on the chart.
Silver Intraday Level 08.08.2024Hi, Here are Important intraday levels for MCX:SILVER1! .
Kindly do your own analysis/research. Proper Risk Management before take any trade.
Thanks & Regards
Long Term Silver Stacking Zone $20 to $15These line up with probable liquidity hunting zones on the monthly chart to fill in low volume notches on the volume profile and using fork extensions to estimate timing.
The bottom end of the zone is less likely around $15 because the point of control is at $16.5 and would probably tend to soak up price tests through it. But the trade idea is still valid even if the POC doesn't provide support.
The volume profile has a double distribution meaning disagreement among traders on this time frame. An exit point might be at $23 which is the next developing POC but if I stack some silver below $20 I will probably hold it for something more like $40 since silver has a tendency to produce short squeezes and shoot to the moon for a short burst and then collapse.
Also holding physical silver (probably 10 oz bars) is a nice way to get a warm and fuzzy feeling of financial security so having a bit on hand is not a bad idea.
Silver EW wave projectionWave 4 correction almost complete. Price starts going down to complete wave 5 and then reverses upwards.
s i l v e rsilver is trading inside classic triangle pattern on an hourly chart, it did broke out but dint sustain. Here is another chance of riding long as its hourly candle is about to close & its HAMMER in making.
Could b bought iwth mentioned stoploss & targets.
Silver8 6 24 in this video I just got gartley patterns which are fairly high probability reversal patterns according to gartley. the silver took a significant drawdown from its high and the breakout buyers on the way up could have lost as much as 7% or more on the correction lower. when a market takes this kind of a correction in a short period of time... it is very easy to think that the markets breaking down and going even lower. this is also an opportunity perhaps that those who missed the gold trade higher may have a chance to get in at this lower price before the market makes new highs. my guess is that there are some very good commercial Traders who are already in the market might see this as an opportunity to scale in an ad contracts if they're Trading the futures. I didn't show you the gold market but that market had a terrible move lower but on the same day it had a huge correction higher which is fairly predictable so if you had scaled in at the low you would have been 1000s of dollars higher from the low to the closing price where it has retested.
SIU2024 New Week Trade Idea's / Possible Support area's What's good everyone, I was sitting back looking at the market getting ready for Sunday open & figured I would bring you all in on my thoughts / Possible trades, as well as where this could show support before turning back bullish.
Let me know what you think
SIU2024So this is one of my favorite charts to trade on the daily basis, Futures gives great returns. I love scalping this. As of right now we are currently in a down trend but we have came down to a strong weekly area 29.045 which has been support since May of this year. We did see a major bounce right before reaching that price and is hold above another weekly. Sunday I will be looking to see how we open. If we get a closure above the double 4hr (29.450 / 29.475) zone I will be looking for it to continue to the next 4hr zone.(29.650). If we don't see that I would be looking for a break of that weekly (29.045). If we get a closure below that , we could see a quick drop I believe .
Silvermic Levels For 1st August-2nd AugustImportant support and Resistance Levels For Silvermic.
When Market touches the level, the price action plays important roles.
For More Learning Reach out to us.
Valuation Trade Setups: NVDA, AVGO, GOOGL, AMZN, PINS & SilverI have been filled long on some trades based on my valuation trading strategy.
In this video I explain the strategy (conditional criteria, entries & money management) implemented with this weeks entries in NVDA, AVGO & Silver (as well as resting orders for GOOGL, AMZN & PINS). I also briefly explain the idea of "relative strength", which I applied this week when I decided to long Silver instead of Copper.
Enjoy.
