I'm observing a potential double top forming in the silver market at the 29.85 level. This pattern is typically a bearish reversal signal, indicating that silver might be poised for a downward move. Trade Details: Pattern: Double top at 29.85 Potential Target: 24.12 Technical Analysis: Double Top Formation (29.85): The price action (PA) shows that...
Good Day, Fellow traders and followers, IS SILVER ABOUT TO TO GO BONKERS?!?!?!? This chart is kind of busy, I don't normally make busy charts, but there is so much going on in this monthly chart. Lets dig in!! First off, lets start with the price action, it has clearly broken through resistance (blue line). Also, the price action is in a purple cup, that's...
If silver breaks above its previous highs against the dollar, it could trigger a surge in investor interest, pushing prices even higher. If the WSB / NYSE:GME / NYSE:AMC deigns realize how much open short interest is on Silver, we could see a massive run to new ATHs for Silver per Oz. Pay attention to Derivatives like AMEX:AGQ , which touched close to $800...
Esteemed Members, We anticipate the possibility of silver reaching $50 by the conclusion of 2024, marking a substantial increase of approximately 75%. To delve deeper into the analysis supporting this forecast, kindly refer to the accompanying video below. Wishing you all safety until we meet again. Please remember, the information provided is not intended as...
Silver (XAG/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 28.68 which is a pullback resistance. Stop loss is at 29.15 which is a level that sits above a pullback resistance. Take profit is at 27.63 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level. ...
On this commodity, we are at an historical level with a potential huge correction on the next weeks/months. While we are bellow the 30.0 level the scenario is valid, otherwise, if we start to break the last short terme high, I except a move till at least 35.0 very quickly. This trade is a very small risk for a big R:R. If the trade fail, I will then only look into...
Silver 30 year Cup & handle break out. Is the silver squeeze finally happening? Credit to @EdTheLorax calling it
Preferred direction: BUY Comment: Against the backdrop of the upcoming news week, metals in particular are best viewed from a medium-term perspective. Here, for silver , the most likely scenario seems to be the formation of accumulation and then growth towards a local maximum of 30 exactly ( scenario №1). We also designate Scenario №2, and it is mainly...
SILVER Ok so I often joke about how slow Silver is but considering how Gold is moving I think this is worth picking some up here. I think the way to best understand this area is that the bowled dump and recovery is Wyckoff CHoCH Change of Character. Notice how before that point price action is quite noisy and wobbly. But after there is a fairly tight 3 wave...
XAGUSD - SELL It is a clean structure the market can drop from this level, keep an eye on it, we risk 1% or less and always use SL. wait for the sell setups to enter. V.Ragu
Silver has printed very clear bullish Wolfe Waves on the weekly and monthly charts and it has reached the target of this wave pattern which also coincides with a hefty supply order block / resistance. Something to take into consideration.
Long term Charts. this will be the best trade ever.
👁️ OUTLOOK 5hr chart: 30m chart: Context 5hr: Price is currently in a re-accumulation, and surfing above the 10,50,200emas trending towards 29.79800. Validation 30m: Price is looking pretty good, re-accumulating above the 200ema. Needs a bit of time to go back above the 10,50ema so give it some time to show you that money is coming in the market once again....
SILVER has trimmed it's price significantly to multi week lows. The overextended correction is a good opportunity for possible reversal prospect. KEY NOTES: Daily FIB is at 61.8 level -- buyer's key demand area. Currently bouncing off this level with precision. Histogram higher lows. Daily Higher lows -- firm ascending support lines. TRI-MONTHLY higher lows -...
XAGUSD is an intriguing chart. It certainly has some catching up to do with gold, with some huge potential gains if this count plays out. First step would be completing a wave 3 in the 47.5-50 range (double top), correction towards 38-40, then a break up towards 70. If this count continues to play out, I think the move towards 50 will be relatively quick,...
Hey guys! Just wanted to come on here and post a potential opportunity I see on Silver for a potential short opportunity to higher timeframe demand! Let's dive in! OK so what fueled this idea for me on this commodity was the recent bearish move it made last month when it made the huge attempt to hit 30 oz for Silver and failed to do so driving prices back down...
The nature of the precious metals market appears bearish with a sharp move into wave (3) down. Take heed from here until 2027. XAG/USD is how silver is labeled for spot trading on the foreign exchange market. Silver (XAG) is traded against the US dollar (USD), so its price shows how much one ounce of silver is worth in USD.