XAGUSDSilver has formed a double bottom in the 4-hour time frame, which will only cross the specified static resistance, and will rise sharply to $35.
XAGUSDG trade ideas
Elliott Wave View in Silver (XAGUSD) Favors the Metal Going HighShort Term Elliott Wave in Silver (XAGUSD) shows that the metal ended wave ((4)) at 29.63. The metal has turned higher in wave ((5)). The structure of the rally is unfolding as a 5 waves Elliott Wave impulse structure. Up from wave ((4)) low on 11.28.2024, wave (i) ended at 30.29 and wave (ii) dips ended at 30.17. Wave (iii) higher ended at 30.75 and pullback in wave (iv) ended at 30.56. Final leg wave (v) higher ended at 30.89. This completed wave ((i)) in higher degree. Pullback in wave ((ii)) ended at 30.04 with internal subdivision as a zigzag. Down from wave ((i)), wave (a) ended at 30.5 and wave (b) ended at 30.73. Wave (c) lower ended at 30.04 which completed wave ((ii)).
The metal has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 30.67 and wave (ii) pullback ended at 30.3. Wave (iii) higher ended at 31.07 and pullback in wave (iv) ended at 30.7. Final leg wave (v) ended at 31.13 which completed wave ((iii)). Pullback in wave ((iv)) ended at 30.44 and final wave ((v)) higher ended at 31.47. This should complete wave 1 in higher degree. Pullback in wave 2 is now in progress to correct cycle from 11.28.2024 low in 3, 7, 11 swing before the metal resumes higher again.
Silver Wave Analysis 4 December 2024
- Silver reversed from round support level 30.00
- Likely to rise to resistance level 32.00
Silver recently reversed up from the round support level 30.00, which has stopped all previous downward corrections from September.
The support level 30.00 was strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the sharp upward impulse from August.
Given the clear daily uptrend, Silver can be expected to rise further to the next resistance level 32.00, former top of the minor correction from the start of November.
SILVERsilver reacted on ADP non farm employment change, on lower than expected data, buyers reacted.
i expect to see more upswing
SILVER RISKY SHORT|
✅SILVER surged again to retest the resistance of 31.54$
But it is a strong key level
So I think that there is a high chance
That we will see a bearish pullback and a move down
SHORT🔥
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Potential bullish rise?XAG/USD has reacted off the support level which is an overlap support and could rise from this level to our take profit.
Entry: 30.68
Why we like it:
There is an overlap support level.
Stop loss: 30.056
Why we like it:
There is a pullback support level.
Take profit: 32.02
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
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Silver shaping for bullish move?Hi guys,
Silver has consolidated after digesting gains from its last run up.
Price has formed a double bottom on daily chart at precisely the 61.8 fib level from its most recent high to daily support.
The right hand side of the double bottom is now looking like an inverse head and shoulders pattern on 4hr or 1 hour time frame with a break of the neckline. Price is currently retesting the neckline level where buy setups may appear on lower time frames.
Safe Trading all
Silver double bottomSilver is a heartbreaker if it doesn’t play my game. On a slightly larger scale, I see a potential head and shoulders pattern forming on the Silver chart, indicating a possible downward direction. However, I also observe a double bottom pattern, where both bottoms have formed inverse head and shoulders patterns. If this “W” shape breaks upward, my target would be the 0.618 Fibonacci retracement level at 32.85. On a larger scale, this upward move could potentially develop into wave “B” of an ABC correction pattern.
XAGUSD - Short SetupMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower.
But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure.
We can notice the break of market structure (sign of weakness) on key liquidity level, so there is a higher probability to see price lower at least on opposite level (marked lower).
Your success is determined solely by your ability to consistently follow the same principles.
Silver Sell IdeaXAG/USD - Sell Limit Opportunity Following Liquidity Sweep
Silver (XAG/USD) has recently tapped into a key liquidity zone, creating an ideal setup for a potential reversal. The price action indicates that the market may face resistance at higher levels, offering a strategic sell limit opportunity.
Key Observations:
Liquidity Zone: Price has swept above a critical resistance level, trapping buyers and clearing stop-losses.
Market Structure: Bearish rejection candles and weakening upward momentum suggest a potential downturn.
Optimal Entry: A sell limit positioned at specific price level aligns with the identified resistance and liquidity grab.
Trade Plan:
Entry: Sell limit at specific level, anticipating a reversal from the liquidity zone.
Stop Loss: Set above the liquidity sweep to account for volatility.
Take Profit: Targeting support levels at specific levels, ensuring a solid risk-reward ratio.
Risk Management:
This trade capitalizes on market inefficiencies, but proper position sizing and a disciplined approach are critical. Monitor for confirmation of bearish sentiment before committing fully.
XAGUSD: Preparing for the Next Leg DownSilver has completed a five-wave structure to the downside, followed by a Zigzag correction near the 0.786 Fibonacci retracement level. I anticipate further decline in the market and recommend considering short positions after a confirmed break below Wave B.
XAGUSD bearish gattli patternOn the 4-hour chart, XAGUSD is currently forming a bearish gattli pattern. Currently, XAGUSD faces a downside risk, with a downside target of around 30.45. If the price breaks through the resistance around 31.45, an upward trend will begin.
XAGUSDSilver formed a QM pattern in the two-hour time frame, if it can break the specified neckline and the candle confirms it, there is a possibility that silver will rise sharply to $35.
Bullish bounce off overlap support?The Silver (XAG/USD) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 30.69
1st Support: 29.80
1st Resistance: 31.51
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BUY XAGUSD (SILVER) - H4 and H1 Trade entries explainedTrader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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Silver Market Update The silver market is looking quite interesting right now! Here's a breakdown of the key insights:
📊 Daily Chart Highlights:
• Silver is stabilizing above its 200-day moving average at 2918.
• It's also holding steady above the 61.8% retracement of the entire move up from August, located at 2971.
• The daily RSI shows divergence, signalling a loss of downside momentum.
📈 Historical Patterns:
• If we compare this to the last correction (May–September), we see a similar pattern where the market held above its 200-day moving average and 61.8% retracement. History might be repeating itself!
🌥️ Long-Term Perspective:
• The weekly chart looks strong, with the cloud providing support for weekly price movements.
⚖️ Gold/Silver Ratio:
• Signs of failure at the longer-term downtrend (dating back to August 2022) add weight to the bullish outlook.
💡 What This Means:
The combination of technical support levels, momentum indicators, and historical patterns suggests we may be gearing up for a recovery in the silver market.
📌 Watch closely for potential upside movement!
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
SILVER Resistance Ahead! Sell!
Hello,Traders!
SILVER is now going up
From the support but
A local horizontal resistance
Is ahead around 31.50$
So after the retest we will
Be expecting a local
Bearish pullback
Sell!
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Silver (Drop-Base-Rally) Bullish Stance Silver Drop Base Rally setup: Look for breakout from consolidation/base with high volume; enter long. Place stop loss just below base. Measure potential upside from drop's depth or use prior resistance for target. Confirm with momentum indicators like Stochastic or MACD for added confidence.
SILVER: Price Action & Swing Analysis
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the SILVER pair which is likely to be pushed down by the bears so we will sell!
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3-12 Silver3-12 Silver In contrast to gold, silver has been moving slightly higher the past few days. Based on a clear trend change that is already visible with the MacD, we place a buy at 31,260. We remain cautious.
SILVER (#XAGUSD): Bullish Outlook & BreakoutSilver formed a significant inverted head and shoulders pattern on the 4-hour chart.
The market saw a strong bullish movement this morning, breaking through both its neckline and a solid downward trend line.
These broken structures now make up an expanding demand zone.
I plan to enter a long position from this zone, expecting a bullish trend to continue up to at least the 31.40 resistance level.
SILVER Is Going Down! Sell!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 30.989.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 28.202 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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SILVER BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
SILVER pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 9H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 29.618 area.
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