Entry Point: 37.43645 (Breakout and retest zone)
Stop Loss: 37.09466 (Below the demand zone to reduce risk)
Target (TP): 39.52272 (Previous high/resistance zone)
Current Price: 37.81340
📈 Technical Signals:
1. Descending Trendline Breakout:
A key descending trendline was broken, indicating a shift in market structure.
2. Support Flip Zone:
The blue zone around 37.41 acted as previous resistance and has now turned into support, validating a bullish retest.
3. Bullish Candlestick Confirmation:
Strong bullish candles post-retest support further upside potential.
4. Risk-Reward Setup:
With a target at 39.52272 and stop at 37.09466, this gives a Risk:Reward ≈ 1:3+, offering a high-probability trade setup.
📌 Conclusion:
Silver (XAG/USD) shows a textbook bullish breakout and retest pattern, making it favorable for long positions targeting the $39.52 zone. A tight stop below the demand zone minimizes risk. Confirmation of further bullish momentum could attract more buyers, pushing the price to the EA target zone.
Stop Loss: 37.09466 (Below the demand zone to reduce risk)
Target (TP): 39.52272 (Previous high/resistance zone)
Current Price: 37.81340
📈 Technical Signals:
1. Descending Trendline Breakout:
A key descending trendline was broken, indicating a shift in market structure.
2. Support Flip Zone:
The blue zone around 37.41 acted as previous resistance and has now turned into support, validating a bullish retest.
3. Bullish Candlestick Confirmation:
Strong bullish candles post-retest support further upside potential.
4. Risk-Reward Setup:
With a target at 39.52272 and stop at 37.09466, this gives a Risk:Reward ≈ 1:3+, offering a high-probability trade setup.
📌 Conclusion:
Silver (XAG/USD) shows a textbook bullish breakout and retest pattern, making it favorable for long positions targeting the $39.52 zone. A tight stop below the demand zone minimizes risk. Confirmation of further bullish momentum could attract more buyers, pushing the price to the EA target zone.
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Disclaimer
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Join my telegram (COPY_TRADE)
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.