A very rare chart setup for silver is playing out right now (only 3rd time in 50 years).
10 more trading days to confirm silver's quarterly defined breakout... Hang on tight!
#silver #gold OANDA:XAGUSD OANDA:XAUUSD
Considering to the technical analysis silver is looking good for a good up move . A deep consolidation on the higher time frame and on the higher levels . We can go long for longer time frame with given SL and Targets on the charts .
Silver is getting ready for a move to $50 levels. The momentum will pick up once the down-sloping channel is broken. A trade can be taken now with a stop loss at 20.45.
Gold has already broken out, silver looks ready to follow. Indicators also imply the same thing:
1. MACD moving average is rising, and is now up above the zero line
2. RSI is above its RSI...
Silver is at a critical point in it's chart. With gold breaking to new highs, Silver has underperformed but has rallied alongside the yellow metal. Now we are at a critical stage that can see silver breakout of its flag and continue it's bull trend. The indicator that I love to look for longer-duration breakouts is the slow stochastics, specifically, when it...
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In the nuanced world of options trading, the Iron Condor strategy stands out as a sophisticated yet accessible approach, especially suited for markets that exhibit a balanced demeanor. This strategy, belonging to the "Options Blueprint Series," is designed for traders who seek to harness the potential of stable markets. Iron Condors offer a way to...
Silver may be coming in for a pullback. It traded it's first longer time frame bear fib on Friday afternoon, selling off in the last 4 hours of the session. Silver has been considerably weaker than gold, so should the sell off continue, expect to see sliver trading it's HWB long at the 50-61.8% line. In terms of Elliot Wave, there is a wave count starting at the...
Huge selloff of Silver in the early market hours prior to FOMC Meeting Minutes release
Price action hit confirmed demand zone
Also confirmed by timing on DXY in Supply Zone/Strong Resistance
Commodities in general have been becoming more expensive generally(Check Commodity Indices like CRB)
2.19.24 In this video I was trying to make a decision with regard to direction for the dxy which affects silver if one goes up the other goes down.... and I was trying to make a decision as to whether or not I would stay in a long position in oil if my trade was profitable already where would I just get out of a long position in oil. since it's close to midnight...
With an understanding that the price is within the resistance zone around 23.5, there is a likelihood of a correction occurring before the price moves higher. After reaching the highest resistance level at 23.70, there is potential for short-selling, with a swing zone between 22.5 and 23.1. Following that, the price may reach support at a strong level around...
