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Xagusdanalysis

Silver (XAG/USD) - Kijun Calling These are times of economic uncertainty; Brexit and the Trade War are primary factors but aren't the only ones. It is during these periods of uncertainty in which precious metals often see bullish movement . This is because, in the changing of political landscapes and the manipulations of central banks, these commodities act as a hedge against inflation and a "safe haven" for investors. Currently, we see this uncertainty feed into the current bull run for both OANDA:XAUUSD (Gold) and OANDA:XAGUSD (SIlver). First and foremost, we've bounced off of a support level around the $14.02 level which has been hit multiple times in the past. This includes a bounce from the $14.02 to $21.23 (Early January 2016 to early July 2016) after the bear run from April 2011 to January 2016. This could happen again as price bounced off this support late May 2019 and could play for resistance, but this won't happen for a number of weeks. More recently, we see different technical signals : In this OANDA:XAGUSD we look at a variety of technical factors: a) Current inverted hammer posted on the weekly chart: This was caused by furious bullish movement on the daily in which price moved at an unsustainable rate and angle which forced a retracement. This retracement fell down to the Kijun-Sen (Base Line) which is a support/resistance level but also acts as a measurement for sustainability. b) Weekly moves away from Kijun-Sen : The same unsustainable movement on the daily chart is encompassed on the weekly, only the minor retracements which helped manage the daily bullish explosion are negligible on weekly candlesticks. However, this has led to a lacking Kijun which has been flattening acting as a pull downwards on price. c) Oversold Territory : On the daily chart RSI(14) hit highs of 83-84 and on the weekly, it has hit the 78 levels. This moves in confluence with the other listed factors which could lead to a weekly retracement. However, we also see bullish divergence between the peak in 2016, and the current price where the current price is lower than that peak, but RSI is higher than it was. The divergence takes place over the 70 level which means the price will most likely continue upwards once it moves into the neutral level (30-70). These factors indicate a retracement on the weekly. The retracement should resume the trend (estimated) at around the 0.5 Fib level between support and resistance which also coincides with the weekly Base Line and ultimately act as minor support in this overall trend. This would be a drop to the $17 price point. Fundamentally: It is recommended in the Intelligent Investor to incorporate precious metals into a portfolio even if it is only 2%. Financial advisor William Berstein points out that an allocation like this is too small to hurt overall performance significantly, but when precious metals do well returns are often spectacular and cover losses from securities. This is through equity directly, ETF's , or well-diversified mutual funds. Most investors will avoid invest in the commodity directly because of insurance and storage costs.
OANDA:XAGUSDLong
by olympus_trading
A second Chance to Buy in SilverMidterm forecast: 16.55 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low. A trough is formed in daily chart at 15.95 on 08/01/2019, so more gains to resistance(s) 17.20, 18.10 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 69. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (16.55). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT , you have a second chance to buy above the suggested support line (16.55). Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Trade Setup: We opened 6 BUY trade(s) @ 15.21 based on 'Valley' entry method at 2019.07.10. Total Profit: 686 pip Closed trade(s): 342 pip Profit Open trade(s): 344 pip Profit Closed Profit: TP1 @ 15.30 touched at 2019.07.11 with 8 pip Profit. TP2 @ 15.60 touched at 2019.07.16 with 38 pip Profit. TP3 @ 16.20 touched at 2019.07.18 with 98 pip Profit. TP4 @ 17.20 touched at 2019.08.07 with 198 pip Profit. 8 + 38 + 98 + 198 = 342 pip Open Profit: Profit for one trade is 16.94(current price) - 15.21(open price) = 172 pip 2 trade(s) still open, therefore total profit for open trade(s) is 172 x 2 = 344 pip All SLs moved to Break-even point. Take Profits: TP5= @ 18.10 TP6= Free
FOREXCOM:XAGUSDLong
by ForecastCity
4
A second Chance to Buy in SilverMidterm forecast: 16.55 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low. A trough is formed in daily chart at 15.95 on 08/01/2019, so more gains to resistance(s) 17.20, 18.10 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 69. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (16.55). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT , you have a second chance to buy above the suggested support line (16.55). Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Trade Setup: We opened 6 BUY trade(s) @ 15.21 based on 'Valley' entry method at 2019.07.10. Total Profit: 686 pip Closed trade(s): 342 pip Profit Open trade(s): 344 pip Profit Closed Profit: TP1 @ 15.30 touched at 2019.07.11 with 8 pip Profit. TP2 @ 15.60 touched at 2019.07.16 with 38 pip Profit. TP3 @ 16.20 touched at 2019.07.18 with 98 pip Profit. TP4 @ 17.20 touched at 2019.08.07 with 198 pip Profit. 8 + 38 + 98 + 198 = 342 pip Open Profit: Profit for one trade is 16.94(current price) - 15.21(open price) = 172 pip 2 trade(s) still open, therefore total profit for open trade(s) is 172 x 2 = 344 pip All SLs moved to Break-even point. Take Profits: TP5= @ 18.10 TP6= Free
FOREXCOM:XAGUSDLong
by ForecastCity
6
SILVER - Easy RiderWhile Gold printed a big rally in May and June, Silver was just lagging. The XAUXAG ratio near to all time highs. I think it's time for Silver to catch up and make a huge rally in the second daily cycle of this precious metal intermediate cycle. Silver's ICL occured on the 20th of May while Gold's ICL was on the 2nd of May, so it printed the ICL 3 weeks later than Gold. It seems the DCL was just a flag on the Silver chart. The XAUXAG ratio should drop down to 86 in the following weeks. Silver might test the 17-17,5$ zone by September overperforming Gold in this second daily cycle.
FX:XAGUSDLong
by chartwatchers
5
XAGUSD Silver, ready for a correction?After an impressive bull run, Silver had a very indecisive day on Friday printing a huge sideways candle. This could lead to a correction move to retest the 15.6 level that was broken without a retest. We also see that RSI has entered overbought territory. That, by itself means nothing but after that clean bullish move could mean that the price needs some oxygen before continuing running. Lets look at the 4H chart: I felt artistic and decided to hand draw the Price Action I am expecting to see :)) The price sky rocketed from 15.18 resistance area all the way to 16.6 where bears started to take control. This could well be profit taking on a Friday but could also mean that the price is correcting. The price has been overbought for a while and retesting the 15.6 level or even the 15.18 level would be a healthy sign. This being said 16.11 is a very important area. If the price breaks below, it will be my signal to get ready to jump into that corrective move. I will be looking at exact entry and exit points when/if that happens. Do you think Silver will continue its bullish run or not? Please let me know in comments!
FOREXCOM:XAGUSDShort
by MicKi