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Weekly forecast Silver technical chart
Symbol XAGUSD

Download MT4 template file

Trade Setup
#XAGUSD
Total Profit: 435 point
Closed trade(s): 144 point Profit
Open trade(s): 291 point Profit

Trade Setup:
We opened 6 BUY trade(s) @ 15.21 based on 'Valley' entry method at 2019.07.10.

Closed Profit:
TP1 @ 15.30 touched at 2019.07.11 with 8 point Profit.
TP2 @ 15.60 touched at 2019.07.16 with 38 point Profit.
TP3 @ 16.20 touched at 2019.07.18 with 98 point Profit.
8 + 38 + 98 = 144 point

Open Profit:
Profit for one trade is 16.19(current price) - 15.21(open price) = 97 point
3 trade(s) still open, therefore total profit for open trade(s) is 97 x 3 = 291 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 15.500 is broken, we will close open trades.
DateAugust 3, 2019 - 16:21
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 15.500 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 15.500 is broken.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 16.65 on 07/25/2019, so more losses to support(s) 15.60 and minimum to Major Support (15.50) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 59.

Take Profits:

  1. 15.30
  2. 15.60
  3. 16.20
  4. 17.20
  5. 18.10
Click on the level to view price action history.
Symbol Released Current Forecast
Silver (XAGUSD) free Sun, 14 Apr 2024
Silver (XAGUSD) free Sat, 6 Apr 2024
Silver (XAGUSD) free Wed, 3 Apr 2024
Silver (XAGUSD) free Sat, 30 Mar 2024
Silver (XAGUSD) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on XAGUSD.