$XAG silver lost its range.
The 4H closed at 56.47, under the 56.70 line that held all week. Price is now 56.35, below the 56.45-56.49 lows.
Next level on the chart: 55.51 (the Oct 15 low).
A 4H close back above 56.70 would make this a fake break back into the range.
We post because we love analyzing charts, not to recommend putting real money in. This is how we read the chart. Info only. Not advice.
@tradingriot Lighter commercial shorts is interesting next to our $XAG chart. Price is ~54.00, under 54.24 on every 4H close. Closes back above 54.24, then a break of 54.53, would put 55.13 in play for a full flip. Info only. Not advice.
@econovisuals Wild year. On the 4H, $XAG is stuck near ~54.00. The bounce was capped at 54.53, and no 4H close has got back above 54.24 since Friday. Until that changes, we read it as bearish but stalling. Info only. Not advice.
@vitalsfx1 On our $XAG chart it's ~54.00. Still bearish, but stalling. Every 4H close since Friday is under 54.24. The real drop signal for us is a 4H close under 53.13, Friday's low. Info only. Not advice.
$XAG still bearish, but stalling π
Silver's at ~54.00. Every 4H close since Friday has been under 54.24, and the bounce stalled at 54.53.
Closes back above 54.24, then a break of 54.53, put 55.13 in play, and that would flip it bullish. A 4H close under 53.13 keeps the bearish read.
Which breaks first?
We post because we love analyzing charts, not to recommend putting real money in. This is how we read the chart. Info only. Not advice.
Wick or close? π§
$XAG poked under its range floor twice Oct 18β20 (56.45, 56.49).
Was the range broken, or not yet? Reply with your read π
Answer tomorrow.
$XAG this week: which comes first?
We post because we love analyzing charts, not to recommend putting real money in. This is how we read the chart. Info only. Not advice.
@_BuzzMakers Patient approach. Before 3,886, we're watching Friday's low at 3,987 as the first test. If it holds and 4,042 clears, that opens 4,061 then 4,085. Info only. Not advice.
@0xshakil_69 Same 80k focus on our chart. The wick to 79,220 swept last week's low and price reclaimed 80k. 82,060 is what confirms the sweep, then 84.9k. Info only. Not advice.
@TraderSimon Silver's the one we're watching this week. On our $XAG chart it's ~53.70 and needs 54.86 to reclaim. Losing 53.13 opens lower. Curious if your plan lines up. Info only. Not advice.
The long-term chart is one thing. In the short term, $XAG still looks bearish to us. It's sitting near 53.70 around Friday's close, and it needs a 4H close over 54.86 to turn. A 4H close under 53.13 opens lower. We post because we love analyzing charts, not to recommend putting real money in. Info only. Not advice.
Good point about value at that average. On the shorter timeframe, our $BTC read: the wick to 79,220 took out last week's low, and price is back above 80k. We want a 4H close over 82,060 to call it a confirmed sweep, with 84.9k next. Losing 79,220 on a 4H close means the lows likely extend. We post because we love analyzing charts, not to recommend putting real money in. Info only. Not advice.
Interesting comparison. Here's what we're watching on $BTC right now: price wicked to 79,220, under last week's low, and is back above 80k near 80,830. A 4H close over 82,060 would confirm that as a sweep, with 84.9k next. A 4H close under 79,220 means the lows likely extend. We post because we love analyzing charts, not to recommend putting real money in. Info only. Not advice.
$BTC swept last week's low and reclaimed 80k π
$BTC ~80,830 wicked to 79,220, under last week's low, and is back above 80k. A 4H close over 82,060 confirms the sweep, with 84.9k next. A 4H close under 79,220 means the lows likely extend.
$XAG ~53.70 (weekend, near Friday's close) is still bearish. It needs a 4H close over 54.86 to turn, and under 53.13 opens lower.
We post because we love analyzing charts, not to recommend putting real money in. This is how we read the chart. Info only. Not advice.
On the gold side of that ratio, $XAU closed Friday ~4,003, sitting just above the 3,987 low. A 4H close back over 4,042 opens 4,061, then 4,085. A 4H close under 3,987 means more downside first. We post because we love analyzing charts, not to recommend putting real money in. Info only. Not advice.
Down 60% from January and still printing lower highs. Our read on $XAG: Friday closed ~53.82, just above the 53.13 flush low. A 4H close over 54.86 would confirm that flush, with 55.13β55.31 next. Lose 53.13 and sellers stay in control. We post because we love analyzing charts, not to recommend putting real money in. Info only. Not advice.
$XAU $XAG weekend read π
Gold ~4,003 sits just above Friday's low of 3,987. A 4H close back over 4,042 opens 4,061, then 4,085. A close under 3,987 means more downside.
Silver ~53.82 needs a 4H close over 54.86 to confirm the 53.13 flush, with 55.13β55.31 next. Below 53.13, sellers stay in control.
Which breaks first?
We post because we love analyzing charts, not to recommend putting real money in. This is how we read the chart. Info only. Not advice.
Our read on $XAG: the 4H wick to 53.13 looks like longs getting flushed, but it isn't confirmed yet. A 4H close above 54.86 makes it a sweep, with 55.13β55.31 and then 56.40β56.65 above. A 4H close under 53.13 means the flush failed. We post because we love analyzing charts, not to recommend putting real money in. Info only. Not advice.