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Weekly forecast Silver technical chart
Symbol XAGUSD

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Trade Setup
#XAGUSD
Total Profit: 919 point
Closed trade(s): 630 point Profit
Open trade(s): 289 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.
TP4 @ 17.20 touched at 2019.08.07 with 198 point Profit.
TP5 @ 18.10 touched at 2019.08.27 with 288 point Profit.
8 + 38 + 98 + 198 + 288 = 630 point

Open Profit:
Profit for one trade is 18.11(current price) - 15.21(open price) = 289 point
1 trade(s) still open, therefore total profit for open trade(s) is 289 x 1 = 289 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 16.550 is broken, we will close open trades.
  • Price may also reach 16.550, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.
DateNovember 2, 2019 - 16:56
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 16.550, resumption of uptrend is expected.
  • We make sure when the resistance at 18.750 breaks.
  • If the support at 16.550 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 16.550 is broken.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • A trough is formed in daily chart at 17.15 on 10/16/2019, so more gains maximum to Major Resistance (18.75) 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 60.

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.