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Why Silver could reverse NOW!Hi Traders, Silver is at a interesting zone right now. One the one hand the longterm long trend is still valid. But we are close on the last low at $22.1 At this zone we have a massive support with last Daily low and also longterm daily trendlie. Looking at today´s candle it seems that we might get a long reversal (possible bullish engulfing). TP could be the Zone arround $24.4 where we have a resistance with also some key points and another trendline. Wish you all great success! Team tegasFX
OANDA:XAGUSDLong
by tegasFX
XAGUSD - USD Continues To Get Weaker?Analysis: Upwards trend (bullish confluence factor) Break & retest of previous area of resistance for support (bullish confluence factor) 38.2% fib retracement level touch (bullish confluence factor) Upwards trendline close by (bullish confluence factor) 6K long position decrease for the USD (bullish confluence factor) Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
OANDA:XAGUSDLong
by jpeacockfx
12
XAGUSD Spot Silver Rises LONGI analyze that the XAGUSD pair is trending up mainly due to the fall of the USD dollar . On the 60-minute chart, in the context of the volume profile an anchored VWAP as well as the MACD indicator of Chris Moody and the Volume Price Trend, I see an tend up for the pair from the fall as part of the market shift mid-day on Thursday. The stop loss is at the support line and the target at the horizontal resistance. If traded accurately in a leveraged forex environment a simple trade like this could yield significant realized profits especially if the stop loss is carefully raised at regular intervals using simple visual "eyeballing" or a mechanical approach using ATR.
OANDA:XAGUSDLong
by AwesomeAvani
XAGUSD - Silver Continues To Rise?Analysis: Taking a look at the chart we can clearly see that price is in an upwards trend. We're forming higher highs and higher lows which helps confirm this as well as the upwards trendline that is present. Price today has pulled back to an area of interest to us as this level previously held as resistance. As we know resistance often becomes support when broken so this previous area of resistance looks like a place where we could see buyers step in and push price higher. Looking at our extra confluences we don't have a fib retracement level of a trendline that lines up with our area however both of these confluences are close by, but this isn't why we took this setup. We took this setup now as we're at an area of possible support and we have the fundamentals in our favour. Fundamentals are what drive the markets so if we have a strong fundamental bias then that is more of a reliable signal then any technicals would be. Fundamentally recently we've seen the USD become weaker and as of the most recent report for COT data we saw an increase of 7K long position but we also saw an increase of 8K short positions on the USD so this is bearish for the USD, meaning that this is a bullish confluence for our bias. Overall we have a strong fundamental reason to be bullish on this pair and we've seen an opportunity present itself on the technical aspect as well. This is why we are currently bullish on Silver. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
OANDA:XAGUSDLong
by jpeacockfx
8
AGQ- A Silver on steroids ETF LONGAGQ a leveraged ETF of silver and its futures, spent mid-March to mid-April on a great uptrend from which it pivoted down in a 50% Fib. retracement which took two months to complete. After a bit of consolidation and sideways channeling, it has finally launched into bullish continuation as shown on the daily chart. The Lorentzian AI machine learning indicator printed a buy signal today as it reacted to a green engulfing candle crossing the mean VWAP anchored from the pivot low of mid-March. This indicator has extreme accuracy in its signals as demonstrated on its tables. On the MTF RSI indicator, the low TF RSI has been riding above the higher and crossed the 50 level one week ago. The zero-lag MACD is confirmatory. Overall AGQ is ready for a swing long trade which I will take. I will zoom into a 30-60 minute time frame and look for a pivot low from which to enter. My target is the line showing two standard deviations above the anchored mean VWAP presently about 36.3 representing at least 20% potential upside and profit. The stop loss will be narrow with the price presently at the mean VWAP and POC line of the visible range volume profile I will set it at 29.85. ( The risk to reward is approximately 1:40 ) DYODD !
AMEX:AGQLong
by AwesomeAvani
2
China Solar Demand Surges and Silver Mining Supply ConstrainedChina, the global powerhouse, has recently witnessed an astounding surge in solar demand, skyrocketing by a remarkable 14%! This tremendous growth is a testament to the country's commitment to clean energy and sustainability. As investors, we can capitalize on this upward trajectory and positively impact our portfolios and the environment. In addition to the soaring solar demand, the mining supply of silver, a precious metal with diverse industrial applications, is facing constraints. This development presents an intriguing scenario for those seeking to diversify their investment portfolios with a long-term perspective. Silver's versatility and pivotal role in various industries, including solar energy, electronics, and healthcare, make it an attractive asset. Now, how can we seize this opportunity? Well, the answer lies in strategically adding silver to our investment portfolios. By doing so, we can benefit from the increased demand driven by China's solar growth while also taking advantage of the supply constraints in the silver mining industry. As investors, staying ahead of the curve and proactively identifying emerging trends and opportunities is crucial. Therefore, consider including silver in your long-term investment strategy. Its growth potential and the positive environmental impact of supporting clean energy initiatives make it an exciting prospect for any forward-thinking investor. Remember, investing is not only about financial gains but also about contributing to a sustainable future. By adding silver to our portfolios, we can align our investments with our values while potentially reaping substantial rewards.
OANDA:XAGUSDLong
by bryandowningqln
Exciting Opportunity: Will Silver Bounce Off the MA50 Again?Our favorite shiny metal, silver, is gearing up for another potential bounce off the MA50, and I couldn't be more thrilled about the possibilities it presents. As avid silver traders, we have witnessed the power of technical analysis and the significance of key moving averages. The MA50 has proven to be a reliable indicator, acting as a strong support level for silver's price movements. And guess what? It's happening again! Over the past few weeks, silver has been exhibiting a fascinating pattern, aligning itself with the MA50. This convergence has historically led to significant upward movements in silver's price, making it an ideal time to keep a close eye on this precious metal. You might be wondering why you should be excited about this. Well, my fellow traders, the potential for substantial gains is again within our grasp! By putting silver on your watchlist and staying tuned to its price action, you can seize the opportunity to capitalize on a potential bounce off the MA50. Here's your call to action: Add silver to your watchlist today. Stay vigilant, keep a close eye on the MA50, and be prepared to take action when the time is right. This exciting opportunity could lead to remarkable profits, and you will want to take advantage of it! As always, please remember that trading involves risks, and conducting thorough research and analysis is essential before making any investment decisions. Stay informed, stay disciplined, and always trade responsibly.
OANDA:XAGUSDLong
by bryandowningqln
XAGUSD Spot Silver Long XAGUSD on the 2H chart over the past month has ascended into a head and shoulders pattern and then descended into a pivot on June 22nd. As it is now ascending, silver is a long trade candidate. I see the stop loss as pivot low on 5/25 . Based on the volume profile and its POC line, as well as the H & S pattern, the first target is the POC line at $ 23.3, the second target at $23.45 which is the neckline of the pattern while the runner is $23.9 the horizontal line of the top of the shoulders. I will take off 1/3 of the position at each target. Additionally, I will raise the stop loss to break even upon getting halfway to the first target and to the first target upon getting halfway to the second target. While leveraged on forex I expect a high profit compared with the risk in the trade which will be risk off upon moving the stop loss.
OANDA:XAGUSD
by AwesomeAvani
Silver or XAU/USD hits golden crossI am thrilled to share some exciting news - silver has just hit a golden cross! For those unfamiliar with the term, a golden cross is a technical analysis term that occurs when the 50-day moving average exceeds the 200-day moving average. This bullish signal indicates a potential upward trend in the price of silver. This is fantastic news for all who have closely monitored the silver market. Considering long silver and taking advantage of this upward trend is an excellent opportunity. So, I encourage you to consider your investment strategy and add silver to your portfolio. With the golden cross in place, it's an ideal time to take advantage of this bullish signal and potentially profit from the upward trend.
OANDA:XAGUSDLong
by bryandowningqln
Silver BuyXAGUSD has made a beautiful move downward and now it seems like the bears have got exhausted selling this metal and we could see a daily level Bearish candle which has started with a good momentum to sell and then at the end of the day the Bulls had taken the control back and Pushed it all the way up with a bigh wick rejection also on the 2nd day after bullish push the control remained in the hands of bulls which formed a moroubozu candle with a high bullish momentum now from top to down on H1 we had a support level and a resistance level and marktet is lingering between our zone we will waiting for the metal to reach at Support level and give a bullish price action confirmation so we will be having a buy position other wise we will wait for break out of H1 Support level and short to our daily support level so we are watching this metal keenly any progress will be sighted shared with you guys
OANDA:XAGUSDLong
by Wakeel_Saab
Silver may shine above mid channel ResistanceSilver futures tried to jump unsuccessfully above the Mid channel line resistance but has been unsuccessful so far. Closing above 74324 will unleash a new bull run in Silver which might have resistances at 76341 and 78000+. The two resistances can also be considered next targets in case of closing over 74324. In case the mid channel line proves to be potent resistance the supports for Silver future are at 72850 and 72490 (Major Support). If 72490 is broken by any chance next supports are at 70174 and 68017.
MCX:SILVER1!Long
by Happy_Candles_Investment
Silver Ready for Giant BreakoutSilver made a symmetrical triangle formation from 1988 to 2004 and broke this formation in 2004. Its peak and order block in 1983 worked as resistance in 2006 and as support in 2008 and 2020. I think the peak Silver did in 2011 was an order block too. The reason for this is that this order block was rejected in 2012. The symmetrical triangle formation it has made since 2009 is also in the critical region now. I can say that I am waiting for the scenario of breaking up of the symmetrical triangle. I think that the scenario that will emerge after this break will be similar to the 2004 - 2012 scenario.
OANDA:XAGUSDLong
by YavuzAkbay
5