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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 3877 point
Closed trade(s): 835 point Profit
Open trade(s): 3042 point Profit

Trade Setup:
We opened 10 BUY trades @ 28.653 based on 'Valley' entry method at 2024-09-11.

Closed Profit:
TP1 @ 28.886 touched at 2024-09-12 with 24 point Profit.
TP2 @ 30.082 touched at 2024-09-13 with 143 point Profit.
TP3 @ 31.477 touched at 2024-09-24 with 283 point Profit.
TP4 @ 32.500 touched at 2024-09-26 with 385 point Profit.
24 + 143 + 283 + 385 = 835 point

Open Profit:
Profit for one BUY trade is 33.717(current price) - 28.653(open price) = 507 point
6 trade(s) still open, therefore total profit for open trade(s) is 507 x 6 = 3042 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 30.082 is broken, we will close open trades.

DateOctober 26, 2024 - 18:49
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 30.082 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 30.082 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 30.100 on 10/08/2024, so more gains to resistance(s) 35.000, 37.450, 44.200 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 63.

Take Profits:

  1. 28.886
  2. 30.082
  3. 31.477
  4. 32.500
  5. 35.000
  6. 37.450
  7. 44.200
  8. 49.800
  9. 60.000
Click on the level to view price action history.

Symbol Released Current Forecast
Silver (XAGUSD) new free Sat, 9 Nov 2024
Silver (XAGUSD) free Fri, 1 Nov 2024
Silver (XAGUSD) free Sat, 26 Oct 2024
Silver (XAGUSD) free Sat, 19 Oct 2024
Silver (XAGUSD) free Fri, 11 Oct 2024