Fundamental & Technical Analysis on XAGUSD (Silver)

4 Eyl

Fundamental: Historically for Silver when Open Interest (OI) is going down it is a bearish signal and vice versa unlike other symbols. In this case Open Interest is decreasing which is Bearish, Commercial (Hedgers) Long positions are slowly going up while their Short positions seem to be slowly decreasing which is another Bearish confluence. For Non-Commercial the Longs have been lowering the past 5 weeks but unfortunately so have the Short positions which isnt exactly what i would like to see but I do believe they'll start increasing. Net Positions for Commercial has reached an extreme on the line chart at about -400K which is a Bearish signal and Non-Commercial has reached an extreme at around 300K, both of these extremes are aligned with the extremes seen on February 2020.

COT Report: cot-reports.com/commitments-of-traders-cot-reports-non-commercial-detailed/

Line Graph: cot-reports.com/cot-data-analysis/

Technical: The 5 EMA has crossed down the 20 EMA while Momentum is negative and the K% line on the Stochastic is underneath the 50% line.

Targets & Stop Loss: My stop loss is at Fib LVL 0.236 which is $29.470 on the chart. Take Profit #1 is at Fib LVL 1.272, Take Profit #2 is Fib LVL 1.414, and Take Profit #3 is at Fib LVL at 1.618. The rest of the Take Profits are at Fib LVLs 2, 2.272, and 2.618. At every Take Profit i will take half of my position off and leave the rest running, after Take Profit #1 is hit I move my Stop Loss down to break even.

4 Eyl

İşlem aktif

I have entered my Short position at $27.918 which gives me a 1R:R to Take Profit #1.

Best of luck if you take this trade along with me.

25 Eyl

İşlem kapandı: durdurma seviyesi

Stop loss was hit