I just saw that it had been 7 weeks straight down and I shorted at f6 retracement. Week by week the trend had been very stable but the moment I shorted price shot up. Will monitor and see.
Traders,
I just posted a chart illustrating the persistent increase in $XAUUSD strength relative to $XAGUSD (See original chart and analysis here: , as well as subsequent comments here: ).
$XAUUSD vs. $XAGUSD:
This strengthening of Gold relative to Silver might appear counter-intuitive, considering that the yellow metal has been under pressure recently,...
XAGUSD looks like double zigzag
I expect more bearish break 19.70 target will be 19.24 then I will watch price action .
break 20.20 target will be 20.55 above will be 20.85 ..
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Silver (XAGUSD), in 4H Tech Analysis Training look like this:
The XAGUSD pair has made a decline below the KUMO from 23.07.2014 and now consolidates having breached the resistance red line.
MACD is weakening its bullish trend and RSI is near 39. All these signs make me think bearish as the pair is under of all the ichimoky indicators. In addition Chikoun...
For the last 54 bars or 378 days Silver has been in a typical Elliott wave 4 pennant on the weekly chart witch now have panned out.
The pennant shows up as a perfect symmetrical time pattern of 2 times 27 bars or 2 times 189 days.
The last e wave comes perfectly back to the middle of the pennant and is now ready for the 5th wave down.
If the time pattern continue...
For the last 54 bars or 378 days Silver has been in a typical Elliott wave 4 pennant on the weekly chart witch now have pan out.
The pennant shows up as a perfect symmetrical time pattern of 2 times 27 bars or 2 times 189 days.
The last e wave comes perfectly back to the middle of the pennant and is now ready for the 5th wave down.
If the time pattern continue...
Silver is at key level again - support which holds quite few times before - good place for long trade - great risk / rearward ratio - SL below somewhere 20.50 - target 21.40. RSI just got out of over sold area and pointing upwards movement.
Good luck!
We have seen a massive (and engulfing) sell-candle today as silver gave up roughly 2.50% of its worth. It very much looks as if the downtrend in silver (and gold), which started April 2011(!), now resumes as a lower-high now looks to be set on 10-07-14 and we're going to test the major support-level at around 19$ once again.
To trade this, it should be wise to...
Looks like the monthly demand is weaken by several retest as the wicks become lesser, but I will be watching the 4hr demand around 19.615 for a potential buy if the return of the price permits.
Traders,
On a pure technical basis, a support and bullish reversal potential event has shaped up. The predictive/forecasting model overlay also points to an early bullish reversal signal pending confirmation.
At this point, IF support holds at defined trendline, THEN I would expect a rallying and consolidation into the overhead forecast target: TG-1 = 21.724 -...
