As I expected in the previous idea, Silver(
XAGUSD) began its upward move and hit the target of $83—exactly reaching it, and the target was met.
Currently, silver is moving in the resistance zone($80.50-$77.10), and it seems a Bull Trap has formed just above this resistance zone.
From an Elliott Wave perspective, it appears silver has completed a Zig Zag correction(ABC/5-3-5), so we might expect further correction.
I expect silver to continue its downward move after the Bull Trap, and at least fall to $74. The next target could be an important trading level around $72.5.
First Target: $74.00
Second Target: $72.53
Stop Loss(SL): $81.00
Points may shift as the market evolves
Note: We need to keep an eye on Middle East developments, as any news from the region could rapidly shift the market trend.
What’s your view on silver? Will it continue declining, or could it head back above the resistance zone($80.50-$77.10)?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Silver/ U.S. Dollar Analyze (XAGUSD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
XAGUSD) began its upward move and hit the target of $83—exactly reaching it, and the target was met.Currently, silver is moving in the resistance zone($80.50-$77.10), and it seems a Bull Trap has formed just above this resistance zone.
From an Elliott Wave perspective, it appears silver has completed a Zig Zag correction(ABC/5-3-5), so we might expect further correction.
I expect silver to continue its downward move after the Bull Trap, and at least fall to $74. The next target could be an important trading level around $72.5.
First Target: $74.00
Second Target: $72.53
Stop Loss(SL): $81.00
Points may shift as the market evolves
Note: We need to keep an eye on Middle East developments, as any news from the region could rapidly shift the market trend.
What’s your view on silver? Will it continue declining, or could it head back above the resistance zone($80.50-$77.10)?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Silver/ U.S. Dollar Analyze (XAGUSD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
Trade attivo
Trade was activated in pullbackTrade chiuso: obiettivo raggiunto
Full Target Done
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🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Pubblicazioni correlate
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.