XAGUSD 5000PIPSIdentify Major Trend:
Long-term Technical Analysis: Review weekly or monthly charts to identify key support and resistance levels, as well as the overall trend. Silver tends to follow large cycles, so confirming a trend alignment in the right direction (bullish or bearish) is crucial.
Technical Indicators: Use indicators such as the moving averages (50, 100, 200-day), RSI, and MACD to confirm the strength of the trend. Look for converging signals that align with your target direction.
Set Entry Point:
Fundamental News: Keep an eye on key economic indicators and news events that impact silver prices, like U.S. dollar movements, interest rates, and geopolitical events.
Precise Technical Entry: Wait for a breakout from a key resistance or support level on shorter timeframes to enter in alignment with the long-term trend. Confirm entries with candlestick patterns, trendline breaks, or key price reversals on the daily or weekly charts.