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XAGUSD trade ideas

Low hanging fruit continuation setup taken with Gold and NASIn this video, I walk you through my entire thought process during today's trading session. You'll learn how I selected the pairs and executed three key trades: * Silver long scalp * Gold LHF Short * NAS LHF short I'll also provide a detailed explanation of the LHF setup, helping you understand how to apply this strategy in your own trading. LHF is one of my personal A+ playbook setups. Don't miss out on these valuable insights and tips!
OANDA:XAGUSDEducation
by TC888
Silver Faces Heavy Resistance: Time to Consider a Short?The price of Silver recently reached a key weekly demand zone from 2012, a level that has historically been significant in the market. Currently, the price appears to be following a similar reversal pattern to Gold, suggesting potential downside in the near term. For a clearer understanding of this correlation, check out my detailed analysis of Gold on my page, where I delve into its ongoing reversal pattern. In the chart provided below, you’ll see my weekly analysis of Silver, highlighting this critical supply area: View the chart here. Market Sentiment and COT Insights Market sentiment in Silver is still leaning bullish among retail traders, contrasting with the more developed reversal in Gold. The Commitment of Traders (COT) report continues to show strong bullish positioning among retail traders in Silver, which often signals a potential contrarian move. Meanwhile, the Forecast Indicator, which captures seasonal tendencies, is pointing towards a possible reversal in Silver during this part of the year. Technical Outlook From a technical perspective, Silver’s move into this weekly demand zone could mark the start of a more pronounced downtrend, aligning with the reversal patterns seen in Gold. Historically, this zone has acted as a strong resistance level, where price has struggled to break higher. As such, it’s a prime setup for a short position with a focus on capturing downside momentum. The current setup aligns with both technical signals and the COT report’s insights, indicating that smart money may soon start to unwind long positions, adding to the potential for further declines in Silver. Trade Setup Given the current scenario, we’re keeping a close eye on Silver for a short setup. Key factors to watch for confirmation include: -A sustained rejection at the current demand level. -Divergence signals aligning with a downward move. Further weakening in Gold, which could act as a leading indicator for Silver’s bearish movement. Final Thoughts The current analysis suggests that Silver could be entering a potential reversal phase, similar to what is already underway in Gold. However, it’s crucial to remain patient and wait for confirmation signals before committing to a short position. I’d love to hear your thoughts on this analysis. Do you think Silver’s reversal is imminent, or is there more room for upside before a potential downturn? Let me know in the comments below!
OANDA:XAGUSDShort
by FOREXN1
1
Silver Price Analysis: 5th Wave EmergesSilver Price Analysis: 5th Wave Emerges – Targeting $34.50 and Beyond The attached chart provides a technical analysis of silver (XAGUSD) on a 75-minute timeframe, highlighting its movement through a series of Elliott Waves and technical formations that signal potential price targets. Currently, silver appears to be starting its 5th wave, indicating an upward movement that could drive prices significantly higher in the near term. Key Technical Insights: Falling Wedge Pattern: The chart reveals a falling wedge formation in wave (4), typically a bullish reversal pattern. As silver broke out of this formation, it confirmed the beginning of wave (5), marking a shift in trend towards an upward trajectory. Wave Count: According to Elliott Wave Theory, silver has completed waves (1), (2), (3), and (4) and is now entering wave (5). This final impulse wave often signals a continuation of the bullish trend, pushing prices to new highs before a potential reversal or corrective phase. Current Price Action and Initial Target: Starting Point: Silver has started its 5th wave from a recent low of $32.264. Target 1: The immediate price target for this wave is $34.50. This target is based on the previous resistance level and aligns with technical indicators that suggest upward momentum. Fibonacci Extension Target: If the 5th wave gains strong momentum and reaches 1.618 times the length of wave (1), silver could potentially reach the $35.595 mark. The 1.618 Fibonacci extension level is often associated with the completion of strong impulsive waves, providing a secondary target for bullish traders. Supporting Indicators: Moving Averages and Bollinger Bands: The chart shows silver moving along key moving averages with the Bollinger Bands expanding, indicating increased volatility and room for price movement within the upward trend. Volume: An increase in trading volume supports the breakout, indicating that buyers are entering the market, further strengthening the bullish outlook. Summary With the breakout from the falling wedge and the start of the 5th wave, silver is positioned for a potential rally towards $34.50, with an extended target of $35.595 if momentum continues. Traders should watch for price action around these levels, as they could present opportunities for profit-taking or further breakout trades if bullish sentiment remains strong. However, caution is advised as silver approaches these resistance levels, as a reversal could occur once the 5th wave completes. Silver's price action over the next few sessions will be critical in confirming the strength of this upward movement and whether it can achieve the anticipated Fibonacci extension level. #DYOR
CAPITALCOM:SILVERLong
by Charts_Maven
Bearish breakout?XAG/USD is falling towards the pivot which has been identified as an overlap support and could breakout to the 1st support which acts as an overlap support. Pivot: 32.24 1st Support: 31.55 1st Resistance: 32.84 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAGUSDShort
by ICmarkets
1
XAGUSD Trade Log Trade Setup (2/11/2024) - XAGUSD Long in Daily FVG 1. Setup: Enter a long position at the market open within the daily Fair Value Gap (FVG), as price is currently deep within this potential support zone. 2. Entry strategy: - Target: 1:2 RRR. - Risk: 1% of account. - Entry confirmation: If already in the FVG, look for price stability or reversal signals (e.g., bullish candlestick patterns or rejection wicks) to confirm the entry. 3. Stop-loss and take-profit: - Place stop-loss below the lower boundary of the daily FVG to manage downside risk. - Set take-profit at twice the stop-loss distance to achieve a 1:2 RRR. 4. Additional considerations: - Monitor for any relevant economic or geopolitical news that could affect silver's volatility. - Ensure that the price action continues to support the long bias before committing fully to the trade.
OANDA:XAGUSDLong
by Fondera-Trading
SILVER Is Bearish! Short! Take a look at our analysis for SILVER. Time Frame: 8h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 32.634. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 30.996 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
CAPITALCOM:SILVERShort
by SignalProvider
1
Bearish drop?XAG/USD has broken out of the support level which is an overlap support that aligns with the 61.8% Fibonacci retracement and could drop from this level to our take profit. Entry: 32.24 Why we like it: There is an overlap support level that aligns with the 61.8% Fibonacci retracement. Stop loss: 33.06 Why we like it: There is an overlap resistance level. Take profit: 31.56 Why we like it: There is an overlap support level that aligns with the 78.6% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAGUSDShort
by VantageMarkets
Bullish Divergence Formed on SILVER XAGUSDWe have a bullish Div here on Silver 45min TF. Divergence is not completely fool proof, however 7 out of 10 times, they give you a win and push into green, giving you an oppurtunnity to cut your stoploss in half. There are 3 possible rejective price levels on chart. Which may send price back on a bearish rally. However once price breaks 32.50 it should retest rejection price level 1. This will be interesting to watch play out this week, once markets reopen in 3 to 6hours, Be mindful of market open CME Gap. OANDA:XAGUSD
OANDA:XAGUSDLong
by MiDAS_CryptoGroup
SilverThe US Federal Reserve’s policy decision, set for Thursday, is capturing market attention. A 25 basis point rate cut is widely anticipated this week, with the CME FedWatch Tool indicating a 99.5% likelihood of this move in November. Such a rate cut could lend support to Silver, as lower interest rates decrease the opportunity cost of holding non-yielding assets. In addition, expectations for further economic stimulus from China could enhance Silver's demand outlook. The Standing Committee of the National People's Congress (NPC) is convening for a five-day meeting from November 4 to 8, where a stimulus package possibly exceeding 10 trillion yuan may be approved to boost China’s economy. As one of the world’s largest centers for electronics, solar panels, and automotive manufacturing, China’s increased activity could significantly drive up Silver demand.
TVC:SILVERLong
by thabang01
1
Short Term Elliott Wave in Silver (XAGUSD) Looking to Turn HigheShort Term Elliott Wave View in Silver (XAGUSD) suggests cycle from 8.8.2024 low is in progress as a 5 waves impulse. Up from 8.8.2024 low, wave 1 ended at 30.18 and dips in wave 2 ended at 27.69. Wave 3 higher ended at 32.95 and pullback in wave 4 ended at 30.12. The metal extends higher in wave 5. Up from wave 4, wave (i) ended at 32.17 and wave (ii) pullback ended at 31.29. Wave (iii) higher ended at 34.26 and pullback in wave (iv) ended at 33.44. Final leg wave (v) ended at 34.86 which completed wave ((i)) of 5 in higher degree. Wave ((ii)) pullback is in progress with internal subdivision as a zigzag Elliott Wave structure. Down from wave ((i)), wave i ended at 34.43 and wave ii ended at 34.83. Wave iii lower ended at 33.41 and wave iv ended at 34.29. Final wave v lower ended at 33.07 which completed wave (a). Bounce in wave (b) completed at 34.54 as a zigzag structure. Down from wave (b), wave i ended at 33.39 and wave ii ended at 33.97. Wave iii lower ended at 32.48. Expect wave iv rally and another marginal wave v lower to complete wave (c) of ((ii)) before the metal resumes higher. Near term, as far as pivot at 30.1 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.
FX_IDC:XAGUSD
by Elliottwave-Forecast
1
Silver Technical AnalysisFxNews— Silver is trading in a bull market, above the 100-period simple moving average, while the Stochastic indicator signals an oversold condition. This provides a solid bid for bulls to enter the market. Immediate resistance rests at $33.10. The uptrend will likely resume if bulls close above this level. If this scenario unfolds, the next bullish target could be the October 21 high of $34.25. Please note that a break below the immediate support at $33.35 would invalidate the bullish outlook.
FOREXCOM:XAGUSDLong
by FxNews-me