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Silver / U.S. Dollar

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XAGUSD trade ideas

Silver - Livermore accumulation cylinder patternThe Livermore accumulation cylinder pattern is a complex trading pattern that has ten peaks. Peaks 8, 9, and 10 are particularly important because they signal the advanced stages of the pattern, where price movements often become more volatile and approach the final phase. Here are some general guidelines on how to identify these peaks: 1. 8th Peak (followed by a drop): The 8th peak usually marks a significant high before a sharp drop. After this drop, the market begins to recover, but the movement tends to be unstable. Look for a rapid price drop followed by a rebound to an short-term support level. 2. 9th Peak (attempt to recover): After the drop from the 8th peak, the 9th peak often represents the market’s last attempt to rally. This is typically a minor bounce where the price tries to return to previous levels, but usually falls short of the 8th peak. This indicates exhaustion and a decrease in buying interest. 3. 10th Peak (final wave and breakdown): The 10th peak usually signals the last strong push upward before the market begins a significant decline. This last peak may fall short of the 8th or even the 9th peak level, or, in rare cases, it may momentarily break above the 8th peak if there’s a slight surge in buying power. When the price starts to drop sharply from the 10th peak, it can indicate the end of the cycle and a larger trend reversal. Identifying Livermore’s pattern requires patience and close observation. Additional tools like volume analysis (to track changes in buying interest) and support levels around previous peaks and troughs can be helpful in confirming these peaks. -- "Livermore used to say: "Whatever happens in the stock market today has happened before and will happen again” Here are some key rules by Jesse Livermore: Markets are never wrong opinions often are. Back your judgment and don't trust your opinion, until the action of the market itself confirms your opinion Few people ever make money on tips, beware of inside information. If there was easy money lying around, no one would be forcing it into your pocket Money is made by sitting, not trading. It takes time to make money. Don't give me timing; give me time Buy right, sit tight. Big movements take time to develop. Men who can both be right and sit tight are uncommon Money cannot consistently be made by trading every day or every week during the year Nothing new ever occurs in the business of speculating or investing in securities and commodities Never average losses The human side of every person is the greatest enemy of the average investor or speculator. Wishful thinking must be banished Jesse Livermore argued that before opening any position, the market must first confirm and support any thesis. The market has to confirm the trade before the full size of the trade is executed. He used to say that ‘Markets are never wrong – opinions often are’. That means we must not trust our own opinions until the price action confirms these opinions. Here are some more tips according to Mr. Livermore: Trade only if there are real opportunities in the market Use price patterns, as historically, the market tends to repeat Don’t overtrade, and don’t trade every day Use pivotal points to trade Follow the trend and run your profits (It takes time to make big money) Don't average down your losses." (Trading Center) “Jesse Livermore Trading Method” Trading Center, Trading Center, 09/11/2024, tradingcenter.org -- Note: I am sharing my thought process on these market moves and adjust my analysis as the market evolves. This is not meant to be followed by others, as I am prone to mistakes like anyone else. Instead, I welcome feedback that can help me question and refine my analysis.
TVC:SILVERLong
by kr_ta
2
Overlap resistance ahead?XAG/USD is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit. Entry: 31.00 Why we like it: There is an overlap resistance level that aligns with the 50% Fibonacci retracement. Stop loss: 31.57 Why we like it: There is an overlap resistance level that aligns with the 38.2% Fibonacci retracement. Take profit: 29.74 Why we like it: There is a pullback support level. 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
Quiet U.S. calendar provides window for possible silver squeezeA squeeze may be underway in silver with a hammer candle printing on Thursday. Traders took one look at the intersection of uptrend support established in February and horizontal support at $29.66 and baulked, sparking a price reversal often seen around market bottoms. While indictors such as RSI (14) and MACD continue to provide negative signals, favouring a bearish bias, the price signal hints we may see further upside in the near-term. $30.80 is the first topside level of note with the 50-day moving average and $32.18 the next after that. Some traders may want to get long now purely on the price signal, but ensure you use a tight stop given a lack of nearby technical levels to use for protection. Setups with better risk-reward would be to wait for a potential break above $30.80, or a pullback towards uptrend support, allowing for stops to be placed below either level for protection. With a quiet U.S. economic calendar next week, we're unlikely to receive fresh catalysts to push U.S yields and dollar higher. The vacuum creates a window for a countertrend squeeze. A far less dovish Fed rates outlook has already been priced in. Good luck! DS
FOREXCOM:XAGUSD01Long
by FOREXcom
Buy OpportunitySilver (XAG/USD) Trading Signal Action: Buy Entry Price: 29.19 Take Profit (TP): 32.96 Stop Loss (SL): 28.83 Timeframe: 7 Days Projected Move: +12.83% 🔍 Summary: Silver is showing a potential reversal with strong support at 29.19. Indicators suggest a possible rally towards 32.96 USD/Oz over the coming week. Watch for confirmation from key resistance levels and the Squeeze Momentum Indicator. ⚠️ Disclaimer: This trading signal is based on technical analysis and is for informational purposes only. Please assess your risk tolerance and consult with a financial advisor before executing trades.
FX:XAGUSDLong
by GODOCM
Projected Silver Bottom Nov-Dec 2024: Key Levels & Support ZonesUsing Elliott Wave and Fibonacci analysis, I believe the 0.618 retracement level for silver at $29.75, from its recent high of $35, will act as solid support. From here, we could see a rebound to the 0.382 or possibly the 0.236 levels, bringing prices up to around $32 or $33 in the B wave, before correcting back down in the C wave. I expect the lower green support line to hold, making it unlikely that silver dips below $29.50, which aligns with the Elliott Wave principle, as the C wave is anticipated to slightly undercut the A wave. There’s a minor chance of a deeper dip to the 0.786 retracement level at $28, but if it does, I would expect strong buying interest at that point.
TVC:SILVER
by Aishman
Bearish drop?The Silver (XAG/USD) is reacting off the pivot which has been identified as an overlap support and could drop to the 1st support which is also an overlap support. Pivot: 30.09 1st Support: 29.13 1st Resistance: 30.93 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
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.
OANDA:XAGUSDLong
by LORDOFTHETRADERS