SILVERusdthe price went up for a long time and then decided to take a rest, I expect the trend to continue, at least a return to the existing highs in the future.
good luck and good trade.
XAGUSDK trade ideas
Silver Gartley / Crab on the HorizonConsidering a Harmonic Pattern for Silver.
X-A - established by an impulsive wave May 3rd - 20th with price moving from moving from 26 -32, at which point momentum was in the OB zone.
A-B - a retracement of price to support at 28.80 and making a near .618 retracement.
B-C - price again rises with an .889 retracement of the AB leg. Advance patterns fitting the price
movement would now include Gartley and Crab.
CD - this leg has commenced on July 11th and is in progress. The target completion for
this leg can be
a. Gartley - 786 retracement of XA which will see price move to around 27, which is near the
200 MA.
b. Crab - 1.618 extension of XA will see price around 22, which is in the low consolidation of
Q1 2024.
Either way price suggests a bearish bias in the near term (RSI <50), with Silver potentially giving up 2 points.
This will conflict with most retail traders who have a Bullish stance, as reflected in the Sentiment Survey by IG indicating 86.25% are Net Long.
SILVER REBOUND AHEAD|LONG|
✅SILVER went down to retest a horizontal support of 28.60$
Which makes me locally bullish biased
And I think that a move up
From the level is to be expected
Towards the target above at 29.60$
LONG🚀
✅Like and subscribe to never miss a new idea!✅
SILVER Will Grow! Buy!
Hello,Traders!
SILVER went down
Sharply and the price
Has almost reached a
Horizontal support level
Of 28.60$ and as silver
Is locally oversold I think
That we will see a
Local bullish rebound
From the support
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
Retail Sentiment Points to Lower Prices? If we break through that support level, we'll probably head down to 28.5 or even lower.
And the retail sentiment is also in line with this scenario.
At the moment, most are long, and short positions are starting to shrink (check out the chart).
Guys, who else sees the same level of support as us? And why? Let's discuss it
Trade recap Silver long reversal trade Taking and aggressive long reversal trade in a very bearish but overextended chart. Entry with NY Open engulfing 8h low... scaling in one more position and holding on for almost 2 hours taking 300p R8
Precious metals take a diveGold ran head-first into a brick wall overnight and is down sharply today. This follows a couple of indifferent sessions which, nevertheless, appeared to offer some consolidation at higher levels following Tuesday’s sharp rally. Back then, gold surged past its old record high of $2,450 from May this year, going on to top $2,480. But, just as we saw in April, May and June, a decent run of gains was wiped out in a series of short, sharp slumps which appeared to come out of nowhere. This must be particularly galling for the bulls, as they have worked hard over a three week period to take gold to a new high from major support at $2,300. But gold is back under pressure again, briefly dipping below its first significant line of support at $2,400. As is often the case, the sell-off in silver has been even more aggressive. Having failed to get anywhere close to the key $32 level on its latest rally, silver turned lower on Wednesday. It is now 7% below Tuesday’s high and back below $30 per ounce. It has now retested support around $28.80, and this has held so far. But a deep and prolonged break below here would raise the risk of a bigger pullback to come.
Silver (XAGUSD): From Rise to Expected Downturn—What's Next?Following a rapid rise to $30, silver has seen a swift decline, indicating a completion of the minor Wave (iii) of Wave ((iii)) just above the 461.8% level. We've exceeded this level, so we need to consider potential deviations from ideal models to navigate the market effectively.
We anticipate the downturn to continue and expect to find support between the 38.2% and 61.8% Fibonacci levels. This could set the stage for a rebound above the $30 mark, potentially reaching between $33.78 to a high of $46, although the upper range is quite optimistic.
Trading volume is expected to provide significant support, helping to sustain Wave (iv) within a price range of $26.32 to $24.65.
Silver (XAGUSD): Anticipating a Wave 4 CorrectionSince our entry at $26.31, silver has experienced a significant rally, reaching up to $32.50. We anticipate a correction downward to form a Wave 4.
The recent rise to $32.50 indicates a strong upward movement, but now a correction is expected. We expect silver to correct downward into the 38.2% to 50% retracement zone before continuing its upward trend.
Our strategy involves maintaining our current stop-loss level without adjustment while allowing the market to correct. We have already secured some profits, reducing our risk. We are targeting the 38.2% to 50% Fibonacci retracement zone for potential re-entry, which will likely provide a strong support area for the next upward movement.
Silver, short to next levelJust recently Silver's price refused to higher and broke the support level so I expect to take short to next support level
SILVER Is Bearish! Short!
Take a look at our analysis for SILVER.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 30.386.
Considering the today's price action, probabilities will be high to see a movement to 30.006.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
SIL: swing on Inside bars patterns before next up movementsSIL: swing on Inside bars patterns before next up movements
-Inside bars pattern.
-Demand zone support.
-Key level support.
.
US STOCKS- WALL STREET DREAM- LET'S THE MARKET SPEAK!
SILVER - HEAD AND SHOULDERSHello Traders !
On the daily time frame, the silver reached the resistance level (31.32550 - 31.54865)
The price formed a head and shoulders pattern.
Currently, the neckline is broken !
So, I expect a bearish move📉
_______________
TARGET: 29.73000🎯
Possible XAGUSD Bearish MovePrice created a CHoCH to the sell side, liquidty in play, waiting for price to get the sell zone before entry.
Remember: Risk Management very important
Silver will retest 27-28$ supportit failed to make higher high
as long under 29.4 I will see it as bearish trend for now
same with gld I see silver retest 29.4 (lower support) but the risk here retest much lower support on 27 or 28$
Silver: Short Trade Idea (4-Hourly)Weekly Chart: Silver has been ranging for the last two months, consolidating between approximately $32 and $28. Last week's price action featured a top wick (rejection) and an inside close, suggesting bullish exhaustion.
Daily Chart: The last day's price action showed a lower low and lower close below $30.032, confirming a clear breakout of the daily range that further supports weekly bias indicating a potential move down to around $28.50.
4-Hour Chart: On the 4-hour chart, there is a succession of lower lows (LLs) and lower highs (LHs) suggesting a downward trend. We aim to see a pullback around $30.03/16 for a short position.
Sell Limit Entry: 30.03/16
Stop Loss: Above 30.27
Take Profit: 29.37, 28.75
Note: We are not rushing into a short position unless we get a pullback to a key level. If it doesn't come, that's fine — we'll find another opportunity.
