Silver(
XAGUSD) began the week with a strong upward move, gaining over +6%. Now the question is whether it can continue this rise or if it needs a price correction before further upside. Stay with me on this!
Currently, silver is trading within a resistance zone($88-$85).
From an Elliott Wave perspective, it looks like silver has completed a five-wave impulsive structure on the 4-hour timeframe, so we could expect downward corrective waves in the coming hours.
I anticipate silver could decline at least to $82.46, with a second target potentially around $80.83.
First Target: $82.46
Second Target: $80.83
Stop Loss(SL): $88.29
Points may shift as the market evolves
What’s your view on silver? Can it climb above $90, or should we expect a price correction in the coming hours?
💡 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 the week with a strong upward move, gaining over +6%. Now the question is whether it can continue this rise or if it needs a price correction before further upside. Stay with me on this!Currently, silver is trading within a resistance zone($88-$85).
From an Elliott Wave perspective, it looks like silver has completed a five-wave impulsive structure on the 4-hour timeframe, so we could expect downward corrective waves in the coming hours.
I anticipate silver could decline at least to $82.46, with a second target potentially around $80.83.
First Target: $82.46
Second Target: $80.83
Stop Loss(SL): $88.29
Points may shift as the market evolves
What’s your view on silver? Can it climb above $90, or should we expect a price correction in the coming hours?
💡 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.
Сделка активна
Заметка
You can Risk-Free your Position.Сделка закрыта: достигнута стоп-лосс цена
Although I said yesterday to risk the position, out of respect for users who saw this update later, I will close this analysis with a stop loss. Unfortunately, the first target did not meet with a small difference, which is normal in financial markets.
It seems that silver has broken the resistance zone($88-$85) and we can expect an increase to the next resistance zone($97-$90). The upper lines of the ascending channels can be considered as resistance for silver.
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🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
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🎁 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
Похожие публикации
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.