Silver/USD IdeaIf Silver breaks 18.186, Chances are it will be a good Short position. Ration 2.79%. but keep an eye on because of US Election today.
Xagusdtrade
Silver: Long strides aheadThis is an update to the revision of my Silver analysis a small month ago. I will try to do more frequent updates from now on.
Yesterday's and today's price action leaves, in my opinion, zero doubt that we left behind a long-term market bottom. I think the large ABC correction is behind us. The market found support at the trend line that was established earlier this year and the 200 SMA. If my analysis is correct, then we could now be at the start of a huge 3rd wave up. The first leg took us from a little less than 14$ per ounce all the way up to a little more than 21$ at the top.
Look for stabilization above the resistance line I drew; this could provide a very lucrative long-term long position!
Trade with care and always respect your stop-loss!
XAGUSD BUYLong, take @ your own risk good R:R in my opinion and shorts are now extended, this is a short term trade I am looking to enter during the asian session, as long as prices remain above 50% fib before the asian sesh i will be looking to go long around those levels. if your an aggressive trader you can enter @ current levels.
But do so @ 30% of your regular lot size. Remaining 60% should be entered @ 50% fib
***This does not constitute as investment advice, your responsible for your own losses and gains, this is just my Personal view on the market
Silver - longPotential long here, however strong bears currently so could well break through and head towards 16 port of area.
Silver support set-upWaiting to see how silver opens to see if support holds for long potential or if a breakdown and retest short to 17.6 is tempting
Silver just finished the 4th wave and started the 5th.Silver was in a corrective 4th wave triangle and it just finished today. The 5th wave should take us up all the way to around 22.100 . If you want to be on the safer side, wait till silver breaks the upper side of the triangle then place your trade.
Buy 19.670
SL 19.472
TP 22.100
Good Luck
