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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 3091 point
Closed trade(s): 835 point Profit
Open trade(s): 2256 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 32.405(current price) - 28.653(open price) = 376 point
6 trade(s) still open, therefore total profit for open trade(s) is 376 x 6 = 2256 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.
DateNovember 1, 2024 - 18:59
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:

  • The RSI uptrend #1 is broken, so the probability of continuation of uptrend is decreased.
  • A peak is formed in daily chart at 34.845 on 10/22/2024, so more losses to support(s) 31.477 and minimum to Major Support (30.082) 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 50.

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 Sat, 30 Nov 2024
Silver (XAGUSD) Sat, 23 Nov 2024
Silver (XAGUSD) Sat, 16 Nov 2024
Silver (XAGUSD) free Sat, 9 Nov 2024
Silver (XAGUSD) free Fri, 1 Nov 2024
History
Daily-Trading-Opportunities on XAGUSD.