Silver BuySilver is in a support zone. Also, this support zone is combined with Fibonacci 0.50/0.618, which will increase the price.
Remember this is my business idea and not an offer to buy or sell.
XAGUSD trade ideas
SILVER: Bulls Will Push Higher
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current SILVER chart which, if analyzed properly, clearly points in the upward direction.
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Silver EW CountSeveral individuals have inquired about my current count on Silver...below is the count for this most recent correction....there are multiple ways to view this but this is my primary right now...we are in a WXY with one small final wave down to $26 coming most likely today or tomorrow...before a major pivot.
SILVER Will Go Lower From Resistance! Sell!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 26.933.
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 24.948 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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SILVER LONG FROM SUPPORT
Hello, Friends!
SILVER is trending up which is obvious from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a great trend following opportunity for a long trade from the support line below towards the supply level of 29.152.
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Silver - Downside BreakoutSilver, surprisingly, isn't very bullish despite the recent market panic. However, my technicals are telling me that there's momentum with the neckline breakout to the downside.
Silver has a strong bearish momentum, could it fall further?The price is rising towards the resistance level which is a pullback resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 27.68
Why we like it:
There is a pullback resistance that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 28.16
Why we like it:
There is a pullback resistance level which is slightly above the 61.8% Fibonacci retracement.
Take profit: 26.86
Why we like it:
There is a pullback support level.
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SILVER BUY OVERVIEWHere's the beauty of closing out partial profits & sticking to your rules in trading. We originally closed out 50% of our position at £18,000 profit, followed by the remaining 50% at £17,600 profit, as I kept an eye on price action & noticed price would likely start dropping now.
We made 0 losses & enormous profits off our Silver buy analysis, which was called live for you all🦾
SILVER (XAGUSD): Important Structure BreakoutSilver experienced a significant decrease in value today as the market broke through a key support level.
The previously intact range of 27.69 - 27.29 is now acting as a zone of resistance.
It is likely that we will see a downward trend towards the 26.30 support level in the near future.
XAGUSD 1D Sym triangleFXOPEN:XAGUSD Sym-triangle with good angle.Most of the swings appeared on up side.
XAGUSD - longthis is a market structure trade . simple is better . never complicate to much! use risk managment !
XAGUSD Nohope of SurvivalAs i thought XAG went all the way to 26 area, there is no sign of life in this thing, no hope of any survival for those who accumulating in hope of any return,
closed my position at 27
No hope for Silver, get out i guess and go suck a lolipop, or find another trade whatever suits u
XAGUSD, Elliott wave analysis■Outlook of XAGUSD on 3D chart.
I think we are in sub-wave (2) of wave (ⅲ).
Sub-wave (2) will be completed soon, and sub-wave (3) will start.
If the assumption of this scenario is correct,
Wave (ⅲ) of sub-wave (3) will probably become a 3rd wave extension impulse.
Silver Faces Increasing Pressure: Cautious SentimentSLO2 @ 31.77 📉
SLO1 @ 30.28 📉
TP1 @ 27.43
TP2 @ 25.03
TP3 @ 23.27
TP4 @ 20.55
BLO1 @ 19.89 ⏳
BLO2 @ 18.30⏳
SL @ 17.55 🚫
🔑
BLO = BUY LIMIT ORDER
SLO = SELL LIMIT ORDER
TP = TAKE PROFIT
SL = STOP LOSS
📉 = Order Triggered
⏳ = Order Pending
SUMMARY
The current market sentiment and technical indicators suggest that the silver downtrend may continue. Nevertheless, the current circumstances are subject to change, so it is advisable for traders to proceed with caution and carefully observe any updates in the market.
FUNDAMENTAL
The price of silver has pulled back to around $28 per ounce, reversing its recent gains due to concerns about a potential recession and a general increase in risk aversion. Concerns about a potential economic downturn have been heightened by the US economy's weaker-than-expected job growth in July. As a result, investors are now looking for safe-haven assets.
TECHNICAL
Despite the anticipation of significant interest rate cuts by the Federal Reserve, the general market sentiment remains pessimistic for silver. Based on the technical indicators, it appears that the downtrend may continue, as the short-term moving averages are currently positioned below the longer-term averages. Nevertheless, it is crucial to take into account the conflicting signals from various technical tools and closely observe fundamental developments before finalizing any trading decisions.
FUTURES
In addition, the recent decrease in delivery volume in the Comex silver futures market suggests a decrease in physical demand. Although this data point is worth considering, it is important to analyze it in the larger market context in order to make meaningful conclusions about the price trajectory of XAGUSD.
Silver Like many other things pulling back, and according to how the Dollar DXY looks, i am expecting a dead cat bounce on it and that will give us a 5th wave down (Silver).
So, here we got on daily a ict unfulfillment, some major support, and the 5th wave down...
I am not shorting this, Only waiting for it down between 26 - 25.7 . here is where i will long it.
XAGUSD (BUY)"All "time frame is on an uptrend. So I correlate on the smaller 4HR time frame and look for price making higher highs and higher lows which it's doing. Stop loss is 25.635. Take Profit is at 37.295. 3 Risk Reward Ratio. Obviously use risk management since Silver is similar to Gold and is very volatile.
Will the recent tensions in the region cause price growth in theConsidering the important resistance of silver in the range of 29.30, it can be expected that after the failure of this area, silver will continue its climb up to the range of 30.28 and in case of strength, 31.22 Otherwise, we can expect the price to return to the support area of 27.47
SILVER SHORT FROM RESISTANCE
Hello, Friends!
SILVER pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 7H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 27.248 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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XAU/XAG/COPPER/DXYGold, silver and copper are showing correlation, watch for subsequent reactions and make maneuvers
SILVER BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
Bearish trend on SILVER, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 27.268.
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SILVER BEARISH BIAS|SHORT|
✅SILVER went up to retest
The horizontal resistance
Level of 29.00$ and we are
Already seeing a bearish
Reaction so a further
Move down is to be expected
SHORT🔥
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