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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 5412 point
Closed trade(s): 1101 point Profit
Open trade(s): 4311 point Profit

Trade Setup:
We opened 14 BUY trades @ 19.457 based on 'Hammer' entry method at 2022-11-03.

Closed Profit:
TP1 @ 19.939 touched at 2022-11-04 with 48 point Profit.
TP2 @ 20.621 touched at 2022-11-04 with 116 point Profit.
TP3 @ 21.200 touched at 2022-11-08 with 174 point Profit.
TP4 @ 22.417 touched at 2022-12-01 with 296 point Profit.
TP5 @ 24.129 touched at 2022-12-20 with 467 point Profit.
48 + 116 + 174 + 296 + 467 = 1101 point

Open Profit:
Profit for one BUY trade is 24.252(current price) - 19.457(open price) = 479 point
9 trade(s) still open, therefore total profit for open trade(s) is 479 x 9 = 4311 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 22.009 is broken, we will close open trades.
DateJanuary 14, 2023 - 13:44
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 22.009, resumption of uptrend is expected.
  • We make sure when the resistance at 24.540 breaks.
  • If the support at 22.009 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 22.009 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 23.105 on 01/05/2023, so more gains maximum to Major Resistance (24.540) 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 61.

Take Profits:

  1. 19.939
  2. 20.621
  3. 21.200
  4. 22.417
  5. 24.129
  6. 25.986
  7. 26.940
  8. 28.304
  9. 29.850
  10. 37.500
  11. 44.200
  12. 49.800
  13. 60.000
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.