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XAGUSD Time to turn bearish.Silver (XAGUSD) almost reached the 25.000 Target that we set almost a month ago (February 15, see chart below) but as it seems to fail to touch the 0.786 Fibonacci level, it is time to take the profit earlier and turn bearish: At least this is what took place on July 20 2023, a rejection that started wave (e-f) back inside the High Volatility Zone that touched the 1W MA100 (red trend-line). This line has basically made contact with all corrective waves since the long-term Triangle pattern started on May 05 2023. As a result, taking also into account the 1D RSI which has almost hit the 70.00 overbought barrier like on July 19 2023, we are now bearish and targeting 22.500 (expected contact with the 1W MA100). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAGUSDShort
by TradingShot
Silver- Will it catch up with Gold?Similar to Gold, Silver also began the year poorly. After finding support just under $22, it started trading in a range. A few hours ago, the price managed to break above the range's resistance, indicating a bullish outlook. However, unlike gold, silver has lagged behind in its performance since the start of the year. In my opinion, this gap will be filled, and we can expect the price of silver to reach around $25 soon. I'm looking to buy dips, with the price at the beginning of the year as my target.
OANDA:XAGUSDLong
by Mihai_Iacob
XAGUSD Buy opportunity on a 1 month horizon.Silver (XAGUSD) is on the 2nd straight green 1D candle, the strongest two day rally since December 14 2023. The natural technical Resistance is the 1D MA50 (blue trend-line) and if broken and the 1D candle closes above it, we will buy the break-out and target the 0.786 Fibonacci level at 25.000. This is because based on the 1D RSI, the current Double Bottom rebound is similar to tthe late June - early July 2023 rebound. The RSI supported by a long-term Higher Lows broke above the top of a descending channel. That was an early signal 3 days before the 1D MA50 break-out which formed a peak on the 0.786 Fib on July 20 2023. Note also how the 1W MA100 (red trend-line) has been an excellent buy level for short-term rebounds. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAGUSDLong
by TradingShot
Silver could break under supportSince the start of December 2023, OANDA:XAGUSD has been clearly trending downward, establishing lower highs on our chart and pressing in the 22.00-22.15 support zone. However, despite yesterday's positive performance for OANDA:XAUUSD , Silver remained largely unchanged, further reinforcing this bearish outlook. The overall structure maintains its bearish trajectory as long as the price remains below the 23 zone. Regarding targets, the support at the 21 zone presents a favorable risk-to-reward ratio if we choose to sell rallies above 22.50.
OANDA:XAGUSDShort
by Mihai_Iacob
Silver- 2000 pips drop could followMore often than not, OANDA:XAGUSD provides clearer signals than OANDA:XAUUSD when it comes to technical analysis. In contrast to its bigger brother, Silver exhibited distinct signs of weakness right from the beginning of the year. This was evident as the price broke below the ascending trend line that had originated in October (In the case of Gold, the price reversed from confluence support). Reversals from the horizontal 22.70 support in Silver were consistently hindered by the confluence of resistances around 23.50, effectively keeping XAGUSD within a range. Currently, the price of Silver has returned to the support zone. Considering the descending triangle and the price being in a downtrend, coupled with its position below significant resistance levels, a break seems highly probable. In this scenario, a drop to the 20.70 zone is possible, presenting a trading opportunity of 2,000 pips.
OANDA:XAGUSDShort
by Mihai_Iacob
#XAGUSD: 2nd Entry Possible, big trade coming! Dear Traders, At the beginning of the week and the first hour of trading of Monday, gold and silver price sky rocketed. The reason is many institutional traders took the price high to take their profit out as we approaches the year end. The second thing is the fear that FED will increase the interest rate that means dollar will collapse ultimately this fear led pre session market sentiment to go all in. Moving forward we expect price to fill the liquidity voided area and once filled. Price can continue the drop. Thanks in advance and good luck.
OANDA:XAGUSDLong
by Setupsfx_
2
XAGUSD peaked and expected to pull-back for the rest of DecemberSilver (XAGUSD) has hit a peak price amidst the geopolitical unrest this weekend (Red Sea attacks) and this is technically the Higher High of the medium-term Channel Up that started on the September 22 High. The 1D RSI is reversing already and as a target we have two technical candidates. In the past 7 months we've had 5 major corrections, the minimum being -7.61% and the maximum -13.13%. As a result our target is the minimum projection of -7.61%, aiming for 24.000. However we may even see a technical extension as low as 23.450, which will not only be the bottom of the Channel Up, but also a 1D MA50 test (blue trend-line) but more importantly the 0.618 Fibonacci retracement level, which is where the November 13th Low almost bottomed. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAGUSDShort
by TradingShot
1