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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 2721 point
Closed trade(s): 1101 point Profit
Open trade(s): 1620 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 21.257(current price) - 19.457(open price) = 180 point
9 trade(s) still open, therefore total profit for open trade(s) is 180 x 9 = 1620 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 20.621 is broken, we will close open trades.

DateMarch 4, 2023 - 14:47
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 20.621, resumption of uptrend is expected.
  • We make sure when the resistance at 23.000 breaks.
  • If the support at 20.621 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 20.621 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 20.410 on 02/28/2023, so more gains to resistance(s) 22.009, 22.394 and maximum to Major Resistance (23.000) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 19.939
  2. 20.621
  3. 21.200
  4. 22.394
  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) Sat, 23 Mar 2024
Silver (XAGUSD) free Sat, 16 Mar 2024
Silver (XAGUSD) free Sat, 9 Mar 2024
Silver (XAGUSD) Tue, 5 Mar 2024
Silver (XAGUSD) free Sat, 2 Mar 2024