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Weekly forecast Silver technical chart
Symbol XAGUSD

Download MT4 template file

Trade Setup
#XAGUSD
Total Profit: 2415 point
Closed trade(s): 1505 point Profit
Open trade(s): 910 point Profit

Trade Setup:
We opened 8 BUY trade(s) @ 15.30 based on 'Valley' entry method at 2020.05.07.

Closed Profit:
TP1 @ 15.50 touched at 2020.05.08 with 20 point Profit.
TP2 @ 15.85 touched at 2020.05.14 with 55 point Profit.
TP3 @ 16.50 touched at 2020.05.15 with 120 point Profit.
TP4 @ 17.50 touched at 2020.05.18 with 220 point Profit.
TP5 @ 18.20 touched at 2020.06.01 with 290 point Profit.
TP6 @ 18.95 touched at 2020.07.09 with 365 point Profit.
TP7 @ 19.65 touched at 2020.07.20 with 435 point Profit.
20 + 55 + 120 + 220 + 290 + 365 + 435 = 1505 point

Open Profit:
Profit for one trade is 24.40(current price) - 15.30(open price) = 910 point
1 trade(s) still open, therefore total profit for open trade(s) is 910 x 1 = 910 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 18.95 is broken, we will close open trades.

DateAugust 1, 2020 - 12:46
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 18.95 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 18.95 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 25.10, 26.20, 27.00 and more heights 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 77.

Take Profits:

  1. 15.50
  2. 15.85
  3. 16.50
  4. 17.50
  5. 18.20
  6. 18.95
  7. 19.65
Click on the level to view price action history.

Symbol Released Current Forecast
Silver (XAGUSD) new Sat, 23 Jan 2021
Silver (XAGUSD) Sat, 16 Jan 2021
Silver (XAGUSD) Sat, 9 Jan 2021
Silver (XAGUSD) Sat, 2 Jan 2021
Silver (XAGUSD) Sat, 26 Dec 2020