ForecastCity
Long

There is a trading opportunity to buy in silver

FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
While the price is above the support 13.60, beginning of uptrend is expected.
We make sure when the resistance at 15.60 breaks.
If the support at 13.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (14.650 to 14.400). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Beginning of entry zone (14.650)
Ending of entry zone (14.400)

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:


Technical analysis:
While the RSI resistance #1 at 44 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 33.

Take Profits:
TP1 = @15.000
TP2 = @15.250
TP3 = @15.600
TP4 = @15.900
TP5 = @16.200
TP6 = @16.550
TP7 = @16.850
TP8 = @17.200
TP9 = @17.700
TP10 = @18.100
TP11 = @21.000
TP12 = @22.000
TP13 = @25.100
TP14 = @28.350
TP15 = @33.300
TP16 = @37.500
TP17 = @44.200
TP18 = @49.800
TP19 = Free
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