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Weekly forecast Silver technical chart
Symbol XAGUSD

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Trade Setup
#XAGUSD
Total Profit: 1400 pip
Closed trade(s): 200 pip Profit
Open trade(s): 1200 pip Profit

Trade Setup:
We opened 13 BUY trade(s) @ 14.60 based on 'Trough (Valley) & Close above 14.45' entry method at 2018.09.28.

Closed Profit:
TP1 @ 14.95 touched at 2018.12.26 with 35 pip Profit.
TP2 @ 15.25 touched at 2018.12.27 with 65 pip Profit.
TP3 @ 15.60 touched at 2019.01.02 with 100 pip Profit.
35 + 65 + 100 = 200 pip

Open Profit:
Profit for one trade is 15.80(current price) - 14.60(open price) = 120 pip
10 trade(s) still open, therefore total profit for open trade(s) is 120 x 10 = 1200 pip

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 15.25 is broken, we will close open trades.
  • Price may also reach 15.25, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateSun, 02/10/2019 - 07:38
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 15.25 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 15.25 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 15.865 on 2019-01-04 and the peak at 16.18 on 2019-01-31, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 15.63 on 02/06/2019, so more gains to resistance(s) 16.20, 16.85, 17.20 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 60.

Take Profits:

  1. 14.95
  2. 15.25
  3. 15.60
  4. 16.20
  5. 16.85
  6. 17.20
  7. 18.10
  8. 21.00
  9. 25.10
  10. 35.35
  11. 44.20
  12. 49.80
Click on the level to view price action history.

Symbol Released Current Forecast
Silver (XAGUSD) free Sat, 16 Feb 2019
Silver (XAGUSD) free Sun, 10 Feb 2019
Silver (XAGUSD) Sat, 2 Feb 2019
Silver (XAGUSD) free Sat, 26 Jan 2019
Silver (XAGUSD) Sat, 19 Jan 2019