#silver needs correction#silver #xagusd has formed bearish divergence in mid term. A correction is necessary.
SILVER trade ideas
XAGUSD: Sell the bounce. Top about to be completed. Silver reached the top of the 3 month Channel Up, naturally on a bullish 1D technical outlook (RSI = 62.183, MACD = 0.939, ADX = 32.693) and since 3 days it got rejected to the 4H MA50 today. The 2 bullish waves before that show that this is technically the last bounce before the top is formed. We are ready to sell this back to the bottom of the Channel Up, targeting the 0.5 Fibonacci level (TP = 32.500).
See how our prior idea has worked out:
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Silver Fakeout + Head and ShouldersWe have a head and shoulders here on the 15m along with a set of lower highs. On top of that, it had a fakeout above its falling wedge today. Really nice move up and might be a dangerous short, or long really. There's likely to be some more volatility though. For now I'd be a little bearish until it retests the $32.50 area.
Might be a good spot to long there, also might be worth taking some puts for a short term swing on the way down as well. Short would be invalid if it holds the $33.50 area it's near now.
Reversal into downtrend setup taken with DJ30 today explainedIn this video, I walk you through my entire thought process during today's trading session. You'll learn how I selected the pairs and executed three key trades:
* NAS Uptrend Continuation long (BE)
* Silver Parabolic Reversal Short
* DJ30 Reversal into Downtrend
I'll also provide a detailed explanation of the Reversal into Downtrend setup, helping you understand how to apply this strategy in your own trading. Reversal into downtrend is one of my personal A+ playbook setups. Don't miss out on these valuable insights and tips!
SILVER Buy Same zone around 33.000Hi Everyone,
Unfortunately our first CAPITALCOM:SILVER went to 3x from our entry and sharply fell back down. This is a rather aggressive re entry.
SILVER, Is it time to buy until the 35.000 mark!?
HI Everyone! In reference to the above, plese check it out. If TVC:DXY Is going to pullback here, I expect Silver to rise to close to the 35.000 mark, but at the same time, We have a 2nd leg pullback in another grey zone as on the chart.
I believe its a significant volume zone that if it rejects, we might come back to my entry price again for either:
1. A 2nd opportunity to buy.
2. It will break lower.
Silver long term view Silver is yet to confirm it's breakout from the 6 year bullish wedge accumulation after breaking out in 2020.
Since then we've seen consolidation in the range between 20 - 30.
Short term target of 36 after confirmation using the fib extension, but this, as we all know has the potential to go miles above that.
A classic double bottom to wrap it all up I'm sure would take place as shown on the chart.
All the best.
Cheers,
Sky
XAGUSD - 1H BullishOANDA:XAGUSD is showing strong bullish momentum, particularly as we approach late October 2024. On the technical side, the current chart presents a series of three bearish pullbacks, each one weaker than the last, suggesting the bearish trend is losing strength. Silver has now reached a key support zone, which aligns with the end of the bearish phase and a potential upward reversal. The breakout is likely, supported by bullish signals from the trend line and weakening bearish pressure.
From a fundamental perspective, there are several factors supporting this bullish outlook for silver. Global demand for silver, particularly in renewable energy sectors and industrial uses, continues to grow. In October 2024, silver prices have also been supported by increasing inflation concerns and the weakening U.S. dollar, as noted by various market analysts. Additionally, silver remains above critical moving averages, further reinforcing the possibility of continued upward momentum.
With a strong technical foundation and supporting fundamentals, silver looks well-positioned for a rally in the coming weeks. Keep an eye on key resistance levels and potential macroeconomic developments for further confirmation of the bullish trend.
XAGUSD STILL DEEPING As stated before, if you snooze you lose, silver is still gonna go short untill It touches the zone before going long. You can look for every in small TF And go short now. Do well to like and follow me
Silver (XAGUSD): Anticipating a correction after new local highsTwo out of our three Silver positions remain active, with Silver reaching a remarkable high near $35. Today, we decided to fully close our second position, locking in substantial gains. The first position, initiated at $26.30, will remain open with a stop loss placed slightly below $26, aligning with the high-timeframe support and wave 1 level.
Given current analysis, a correction in Silver may be on the horizon after reaching the minimum target for wave 3. With increased Treasury yields and some profit-taking, Silver could face resistance in climbing further, especially considering the upward trend in yields.
While we cannot predict the exact speed of this potential downturn, if it unfolds as expected, we’ll look to re-enter with Silver certificates around the $30 to $28.30 range. The ideal correction would see a pullback toward the volume range high and a subsequent bounce within the 61.8%-78.6% Fibonacci zone, which we’ll confirm once wave ((a)) is established. Stay patient and focused, as volatility is expected to rise with the upcoming presidential elections.
SILVER: Market Is Looking Down! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 32,80376$
Wish you good luck in trading to you all!
Silver’s U-Turn: Head & Shoulder Formation Triggers Sell Signal● After breaking out from the Rounding Bottom formation, the price soared to an impressive peak of $34.87.
● Subsequently, a consolidation phase unfolded, leading to the development of the Head & Shoulder pattern.
● We expect a swift drop once the neckline is breached, potentially retracing the price back to its earlier breakout point.
Key levels to watch
● Entry : Below $33.4
● Potential Target : $32.7
● Stop-loss : Above 33.7
XAGUSD(Silver) - Trend Reversal patternFrom a technical perspective, XAGUSD is under the formation of a Head & Shoulder Pattern.
I'm expecting XAGUSD to turn bearish in the coming days .
A close below the neckline(33.46100) in 4hr should confirm the reversal.
I'm expecting Silver to reach 32 - 31.500 levels in the coming days.
Good Luck with your trading plans!
Silver Outlook for a short-term setupShort term setup recovery for silver could be triggered by liquidity grab and increase in demand for commodities. Silver is not taking its real pricing position compared to historical correlation between silver & gold.
This is not financial advice, but rather an idea
SILVER - Confluence of Head n Shoulders and Divergence A clear cut formation of head and shoulders pattern and powerful divergence on MACD can be seen and then there is a fair value gap to be filled as well. We seem to be going into pull back till support level.
SILVER (XAGUSD): Your Trading Plan For TodaySilver is currently in a strong uptrend, with the price recently reaching a new high before retracing to a key support level.
To potentially short the pair with confirmation, keep an eye out for a head and shoulders pattern on the 4-hour timeframe. A breakout below the neckline, confirmed by a 4-hour candle closing below 33.40, would indicate strong selling pressure.
This could lead to a bearish reversal towards the 32.47 level, based on a rising trend line and horizontal structure.
It's important to note that the neckline currently represents a strong demand area, so it's advisable to only consider shorting after a confirmed breakout.
XAGUSD Bull Flag to test the strength of the MA50 (1d).Silver has completed a Cup pattern with the price breaking above it this week.
Yesterday's pull back may start a Bull Flag, delayed Handle of the Cup, same as the mid April Bull Flag that gave an excellent buy above the MA50 (1d).
Trading Plan:
1. Buy on the 1.0 Fibonacci level.
Targets:
1. 38.500 (the 2.0 Fibonacci extension).
Tips:
1. The RSI (1d) is also trading on a similar pattern as April. A neutral (1d) RSI is perhaps the most efficient buy signal there is.
Please like, follow and comment!!
Notes:
Past trading plan:
Correction Silver H4. 24.10.2024Correction Silver 📉
The correction in silver started a bit earlier than the expected zone, so I'm clarifying the situation. Buying zone is important at 31.31-32.17 and slightly above the margin with support level. I am still aiming for 35.50 and higher after the end of the pullback. There were no strong culmination volumes at the top, so it is more likely that a pullback is forming downwards.
CAPITALCOM:SILVER
silver short conditionalsilver
short
conditional entry
Please don't be greedy
ENTRY : yellow point
TP : blue lines
SL :
below red line for LONG position
above red line for SHORT position
INSTRUCTIONS:
For risk and money management:
5% of your wallet for LEV X ≤20
And
3% of your wallet for LEV X ≥ 20
SILVER: Local Correction Ahead! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 34.36554$
Wish you good luck in trading to you all!
Silver ready for take-off! Looking at weekly, Silver looks fully ready for a massive run in the coming months!
First target: 44
Fasten your seat belt!
XAGUSDPair : XAGUSD ( Silver / U.S Dollar )
Description :
Completed " 12345 " Impulsive Waves and " AB " Corrective Waves
Order Block
CHOCH
Fibonacci Level - 61.80%
Bullish Channel as an Corrective Pattern in Short Time Frame
