End of pullback????After making a major trend reversal on top, XAUUSD now pullback to upper line of his channel and heavy to goes higher.
On my view, Bear can take control again and push price lower.
Trade safe.
Good luck.
XAGUSDK trade ideas
SILVER (XAGUSD): Important BreakoutSilver has the potential to increase in value after breaking through a significant daily resistance level.
The previously broken structure is now acting as support, indicating a potential bullish movement towards $30.00.
SILVER, very bullish outlookHello everyone,
I like to provide you a detailed elliot wave analysis on silver. In my opinion we are in the middle of a higher degree fifth wave. The elliot wave rules I use:
Standard:
- Wave 3 has to be the longest
- Wave 4 can not overlap with wave 1
Advanced:
- Target levels are 1,5 to 1,618 (wave 3) and 2.272 to 2.618 (wave 5)
- Wave 3 needs to show a change of character to wave 1 (usually steeper)
XAGUSD - Aggressive Bullish Play To $29.21.If this doesn't play out before i finish this post, next week i will be scoping out juicy longs to poach the long term higher timeframe highs located @ $29.21.
Overall bias is long, going into the daily Sellside imbalance buyside inefficiency between 29.433 - 29.757 for this week.
All-time highs being booked in OANDA:XAUUSD also aids this long bias as these two commodities tend to move in tandem
SILVER (LONG)As per daily market structure .
Turtle soup Trading Strategy
The Turtle Soup strategy, however, flips the script, aiming to profit when those anticipated trend.Linda Raschke’s Turtle Soup strategy is a counter-trend trading approach that capitalizes on failed breakouts.
It takes inspiration from the famous Turtles trading experiment, where novices were trained on a trend-following system.
Silver's possible 'edge' over Gold (see chart)
The Gold price will continue to Surge this week imo, mainly on very USD weakness & traders and people from all over the world are coming 'from-out-of-the-wood-work' to speculate on Gold's next move when The-Fed moves on interest rates in Mid-September.
But the Silver price is still about 9.8% underneath it's high-price for 2024. Silver imo opinion has more volatility and price movement than Gold does, which is another reason I prefer to accrue or Trade the Silver Price. Finally, Silver is not as overbought currently on the Stochastics & RSI weekly and monthly timeframes compared to Gold.
It probably does not matter which precious metal you trade or buy, they are all incredibly bullish at the moment, yes particularly Gold & Silver.
GATO/ Silver Updated Technical Analysis for GATO and Silver
GATO (Gatos Silver, Inc.):
Current Technical Levels:
Support Levels: Around $12.80 and $11.50. These are key areas where the stock might find buyers if it pulls back.
Resistance Levels: The next significant resistance is around $13.50. If the stock breaks through this level, the next target could be around $14.50.
Technical Indicators:
The stock is currently in an uptrend, with the price trading above the 200-day moving average.
The Relative Strength Index (RSI) is approaching overbought territory, which could indicate a potential pullback or consolidation.
Silver Index-
Current Technical Levels:
Support Level: Near $28.60. This is a crucial level to watch if silver begins to decline.
Resistance Level: Around $29.60, which is being tested currently. A break above this level could lead to further gains in both silver and related stocks like GATO.
Technical Indicators:
Strategy Consideration
For GATO:
Hold your position as long as GATO stays above $12.80, and consider adding to your position if it breaks above $13.50 with strong volume.
If silver pulls back below $29.60, you may see a similar pullback in GATO, which could bring it back toward the $12.80 support.
For Silver:
Keep a close eye on the $29.60 level. A failure to break this resistance might signal a short-term pullback, which could affect GATO as well.
XAGUSD / GENERALLY PRICES UNDER BULLISH PRESSURE - 4HXAGUSD
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 28.58 .
Turning Level: The price is currently trading above this level around 28.58 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 27.80 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 28.58 . If the price reaches 27.80 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 27.08 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 26.44 .
Resistance Level (1): As long as the price remains above the turning level of 28.58 , it suggests a rising towards 29.56 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 30.75 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 31.64 .
Channel Trend: the prices trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 29.56 , 30.75 , 31.64 .
SUPPORT LEVEL : 27.80 , 27.08 , 26.44 .
Silver just broke out of a medium term downtrend - GOING UP!Buy analysis has kicked in for Silver.
We have seen it form a W Formation and recently, it's broken not only out of the Neckline but also the Downtrend (action line).
Nature: High probability analysis
Price>20 and 200MA
Target 33.79
Silver Rebounds at Key Demand Zone: A Bullish ImpulseSilver recently rebounded from a significant Demand area around $28.48, marking the start of what appears to be a new bullish impulse. This recovery comes at a crucial moment, as market participants closely monitor the movements of precious metals amid fluctuating economic indicators and shifting sentiment in the broader market.
From a technical standpoint, the surge in Silver's price following this rebound is notable. The metal has managed to find strong support at this key level, suggesting that buyers are stepping in, possibly positioning for a sustained upward move. This aligns well with the latest Commitment of Traders (COT) report, which reveals interesting dynamics among the major players in the market.
The COT report, which tracks the positions of commercial and non-commercial traders, indicates a favorable environment for further bullish momentum in Silver. Non-commercial traders, often seen as speculators, seem to be gradually increasing their long positions, reflecting a growing confidence in Silver's potential upside. Meanwhile, commercial traders, who typically use futures contracts to hedge their positions, may be signaling the underlying strength in Silver by reducing their short positions.
Applying our Supply and Demand strategy, the recent price action further supports the case for a long continuation in Silver. The demand area around $28.48 has proven to be a robust support zone, and as Silver continues to build on this foundation, we anticipate the possibility of higher prices in the near term. The current market conditions, combined with the insights from the COT report, suggest that Silver may be poised for a strong rally.
✅ Please share your thoughts about SILVER in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
XAGUSD - Silver will reach 30$?!Silver is above the EMA200 and EMA50 in the 4H timeframe and is trading in its descending channel
If the upward movement continues and silver is placed within the specified supply Zone, we can look for silver sales situations
Correction of silver towards the specified trend line, which is also in the intersection with the demand zone, will provide us with a good buying position in terms of reward to risk
SILVER BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
Previous week’s green candle means that for us the SILVER pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 27.919.
✅LIKE AND COMMENT MY IDEAS✅
SILVER LONG RESULTSSILVER
LONG
TARGETS 1 2 3 4 DONE
578% LEV X 100
115% LEV X 20
congratulations for all followers
WE ARE Always the best
Repositioning Silver to buy H4 19.08.2024 Repositioning Silver to buy
Silver has formed a pattern of repositioning to buy
and if the pullback is given, I will look for a buy at 1/2 margin 27.90 to continue the growth.
I am targeting the area of 30, and further I will clarify.
On options bounced off the option hedge area at 26.50
and the hedge up around 30 and 32 is filled.
The main OI has now moved to the new December contract,
so be careful with volumes, they have only just started to come in from last week.
XAGUSD potential bearish cypherOn the daily chart, XAGUSD is currently stabilizing and moving upward, with a short-term bullish pattern. Currently, XAGUSD is expected to continue to rise, with an upward target of around 30.58. When the market reaches around 30.58, pay attention to the potential bearish cypher.
Silver sell setupI would like to know what y'all thinking about this setup. As you can see I marked daily high and low, and market swept daily high liquidity. On smaller time-frame we have a clear liquidity sweep and market structure shif with displacement, we entered our trades on FVG and we're targeting our previous daily low for TP.
silver xagSilver had formed a cup and handle formation in its downtrend. It has now broken and tested the resistance zone. Its next target will be 30.1 and its second target will be 30.6.
silver xagSilver had formed a cup and handle formation in its downtrend. It has now broken and tested the resistance zone. Its next target will be 30.1 and its second target will be 30.6.
Silver breaks out going into Oceania & Asia Tuesday trading!!
Thanks to a very bullish Head 'n' Shoulders pattern on 1-5M timeframes Silver has posted a very strong close. You can see here on the daily it's broken out very well compared to Gold & the Silver price still has some catching up to do following its' sell-off in July.
A Very Bullish Set Up For SilverSilver continues to put on gains following a breakout from a month long downtrend.
MACD cross confirms bullish outlook, as does the breakdown of the gold to silver ratio.
XAGUSDWe have an uptrend on 1D and 1W, where the price has broke up the downside channel inside of the rising channel. Price has retested the support zone, and will accumulate sometime before trend continuation. It is possible to see, that currently XAG stays near the bottom border of the bigger channel. This asset would be suitable as the investment opportunity for the next couple years. Targets are on chart. Rotated rectangle on the upper boundary of the big channel stays there as the last potential target for this cycle.
DYOR
Silver H4 | Pullback resistance at 50% Fibonacci retracementSilver (XAG/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 29.14 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 29.60 which is a level that sits above a pullback resistance.
Take profit is at 28.09 which is an overlap support that aligns with the 38.2% Fibonacci retracement level.
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XAGUSD. Trading opportunity Hello traders and investors!
I reviewed the assets and highlighted silver as an interesting opportunity for trades next week. For example, in gold, on the daily timeframe, the price has broken out of a range, and it’s hard to predict how far it will go. In silver, the targets are clearer.
Weekly Timeframe
On the weekly timeframe, there’s a bullish trend. The last upward impulse started from the 17.559 level. The most recent sub-impulse within that impulse began at the 26.0185 level. At the end of the impulse, a seller's zone formed after the seller absorbed a buyer's candle with growing volume, which has already been tested by the buyer—the test level is 29.2285 (seller's zone marked by a red rectangle on the chart). The seller's candle at the test level had the highest volume in a year, but the result was just a shadow: the body of the candle couldn’t close below the shadow of the previous candle. The latest weekly candle, with falling volume, absorbed the seller’s candle. This indicates that although the seller tried to resume the downward movement from their zone, they have been unsuccessful so far.
Daily Timeframe
On the daily timeframe, the price has formed a range that began in April. The upper boundary is 32.5185, and the lower boundary is 26.0185.
The seller’s 7-8 impulse has played out, and now the buyer's 8-9 impulse is active, with a potential target of 31.755. A buyer's zone has formed at the base of the new 8-9 buyer’s impulse after the buyer absorbed the seller's candle from August 5th, which had growing volume (buyer’s zone marked by a blue rectangle on the chart). Note the volume of the seller’s candle from August 5th—it’s the highest in several months.
Thus, on both the weekly and daily timeframes, the priority is on buying .
There are obstacles on the buyer's path that need to be monitored. The first obstacle is the start of the last sub-impulse in the seller's 7-8 impulse (29.2285), and the second obstacle is the previous weekly high (30.1365), where a seller's zone has also formed.
Buying Strategy
For trade setups, you could consider the 4-hour timeframe. On this timeframe, the price has formed a range with an upper boundary of 29.2285 and a lower boundary of 26.4710.
You could, for example, look for buying opportunities from the buyer’s defense of the lower boundary of the range or after a breakout to the upside and the buyer's defense of that breakout.
