XAG USD - VIP analysis
Daily Chart:
Weekly Chart
Presents two scenarios;
1. Break and rested upon a break from the channel and formation on the daily.
2. A rejection of the channel, but a change of hands ever present upon the weekly imbalance zone
XAG USD four Day [analysis originating from May 21st 2021.
Weekly Chart
The weekly chart is currently in the monthly zone or if a Fibonacci retracement pivot trader, this zone aligns the monthly 50% and 61.8% ratios whereby the bullish imbalance will takeover. While Gold does not have a clear rejection of the 61.8% low of $1680 zone, and again the 50% - where price is currently forming upon the 1766mark.*
*note, the price as it is currently forming, will still experience wicks to the downside pressure upon a daily and weekly chart until the rejection zone has netted off with a lower timeframe imbalance.
What does the Weekly Symmetrical triangle show?
Based off how symmetrical triangles works both in a bearish and bullish capacity.
However the difference here is that in this scenario - using probability upon how the candlesticks have displayed upon the chart, a bearish formation while not a text book definition, will normally print a closer lower high, lower high upon the downside lower weekly line forming the bottom of the structure, however a mechanism here the higher timeframe is offering here is a very heavy "resistance", or in a more technical approach, an imbalance between buyers, sellers and pivot points within the trading range. [See chart below labelled 1]
Using the higher lows the chart is producing, *the sentiment bias leans to bullish, however, adding positions will occur upon rejected levels as opposed to intra-day trades.
Chart 1
Gold Daily Chart
Monthly Gold Chart
The imbalances are clear defined zones of where price has previously captured highs and lows and created imbalances upon buying or selling pressure - depending on the trading outlook. Formations whilst experiencing new data with no implied candlesticks either changing the landscape in which a top or bottom has not formed reverting to Fibonacci extensions and previous highs assist in establishing, along with patience upon printing new candles which guide the next move.
8Hour tracking of gold
Gold and Silver ratio
XAG - Silver - in silver line formation
XAU - Gold - Gold/yellow line formation
The weekly chart shows here the steady 'Need' for both metals. The ratio of gold and silver looks to measures the number of ounces of silver required to purchase one ounce of gold. Whilst a measure which is not entirely causation upon large moves by Gold, it does provide investors hope to estimate the relative valuations between the two metals, informing to buy or sell at any given time.
Monthly Ratio
SPX VS VIX
Refer to the weekly negatively correlated SPX and associated Volatility index.
Vix Chart - please keep in mind that the VIX has correlation, causation is caused from the associated short term risk of the sentiment change within profit taking, impending policy changes, health warnings, war and other macro-factors.
Refer to the DXY chart to follow the imbalance.
Do you enjoy the setups?
*Professional analyst with 5+ years experience
*Focus on technical output not fundamentals
*Position and swing trades
*Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Thanks,
LVPA MMXXI
Weekly Chart
Presents two scenarios;
1. Break and rested upon a break from the channel and formation on the daily.
2. A rejection of the channel, but a change of hands ever present upon the weekly imbalance zone
XAG USD four Day [analysis originating from May 21st 2021.
Weekly Chart
The weekly chart is currently in the monthly zone or if a Fibonacci retracement pivot trader, this zone aligns the monthly 50% and 61.8% ratios whereby the bullish imbalance will takeover. While Gold does not have a clear rejection of the 61.8% low of $1680 zone, and again the 50% - where price is currently forming upon the 1766mark.*
*note, the price as it is currently forming, will still experience wicks to the downside pressure upon a daily and weekly chart until the rejection zone has netted off with a lower timeframe imbalance.
What does the Weekly Symmetrical triangle show?
Based off how symmetrical triangles works both in a bearish and bullish capacity.
However the difference here is that in this scenario - using probability upon how the candlesticks have displayed upon the chart, a bearish formation while not a text book definition, will normally print a closer lower high, lower high upon the downside lower weekly line forming the bottom of the structure, however a mechanism here the higher timeframe is offering here is a very heavy "resistance", or in a more technical approach, an imbalance between buyers, sellers and pivot points within the trading range. [See chart below labelled 1]
Using the higher lows the chart is producing, *the sentiment bias leans to bullish, however, adding positions will occur upon rejected levels as opposed to intra-day trades.
Chart 1
Gold Daily Chart
Monthly Gold Chart
The imbalances are clear defined zones of where price has previously captured highs and lows and created imbalances upon buying or selling pressure - depending on the trading outlook. Formations whilst experiencing new data with no implied candlesticks either changing the landscape in which a top or bottom has not formed reverting to Fibonacci extensions and previous highs assist in establishing, along with patience upon printing new candles which guide the next move.
8Hour tracking of gold
Gold and Silver ratio
XAG - Silver - in silver line formation
XAU - Gold - Gold/yellow line formation
The weekly chart shows here the steady 'Need' for both metals. The ratio of gold and silver looks to measures the number of ounces of silver required to purchase one ounce of gold. Whilst a measure which is not entirely causation upon large moves by Gold, it does provide investors hope to estimate the relative valuations between the two metals, informing to buy or sell at any given time.
Monthly Ratio
SPX VS VIX
Refer to the weekly negatively correlated SPX and associated Volatility index.
Vix Chart - please keep in mind that the VIX has correlation, causation is caused from the associated short term risk of the sentiment change within profit taking, impending policy changes, health warnings, war and other macro-factors.
Refer to the DXY chart to follow the imbalance.
Do you enjoy the setups?
*Professional analyst with 5+ years experience
*Focus on technical output not fundamentals
*Position and swing trades
*Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Thanks,
LVPA MMXXI
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