RaSantana

RaSantana

On a breakout of the pennant at $15.70 a move to between $16.57 & $16.80 can be expected. Once the initial target of $16.57 is reached, a protective stop should be placed tightly under the price because although it may reach as high as $16.80 or so profit taking can be expected, and the price of silver could fall back to the original level of around $15.70...

RaSantana

This is an update to previous silver charts that I've published. I am still remaining bullish and have outlined an initial target of US$25.57 which is the 1.618 extention or the height of the right angled triangle. The target of US$15 has been achieved and it's on to the next one now US$25.57 I think that we are still in the early stages of a spectacular bull...

RaSantana Updated 

Looking at the 2 hour chart, a possible head & shoulders pattern could be forming, with the right shoulder yet to materialize! If a right shoulder does form, then a buy signal will be generated when the red NL (neckline) is broken. However, what has me so excited is if we overlook the micro analysis, and look at the bigger picture, we can see a huge uptrend the...

RaSantana Updated 

As with the gold chart, silver appears to be following a similar uptrend. An entry point close to the bottom trend line as indicated by the green arrow could see a profitable trade. Personally, I am in for the long haul, as silver is grossly undervalued according to historical ratios. When dividing the price of gold by the price of silver the ratio is a...

RaSantana

A slight adjustment to the lower trendline of the parallel uptrend and we are still on track. Let's see if we can break through the $15 resistance level this time around. I think we can. :) I'm staying with silver and gold for the long haul! Merry christmas and a happy & prosperous new year to all Tradingview viewers & traders! Disclaimer: This is not trade...

RaSantana

This is getting too hot for me, so I'm closing out all my long contracts in the AUS vs USD! Having achieved most of the upside that I expected, I've decided that my nerves can't stand anymore, particularly as we are so close to the decending trendline and the target of 72. Closed at 71 87. Now I'm standing aside to see what develops. Disclaimer: This is not trade...

RaSantana

After the breakout of the flag pattern, a buy signal could be generated on the pullback to the pattern around 71 75 to make a profit as this pattern suggests the Aussie dollar will rise to 72.05. So on a trade of 71.95 I will close this trade with a tight stop loss in order to lock in any profit as it goes to 72+ Disclaimer: This is not trade advise! No...

RaSantana

A breakout from the flag pattern opens an opportunity for a quick trade. A target just under 72 is what I'm looking for. So to close this trade out I'm going to sell at 71 95 as this target should be reached based on the height of the pole of the flag pattern.

RaSantana

Silver has completed a 38% retracement as indicated on the chart. On the next leg upwards it needs to break resistance around the $15 area in order to advance substantially higher! As we are near the lower trendline of a parallel uptrend, I am expecting silver to move up from here. See the chart on gold published Gold update: to see the parallel (no pun...

RaSantana

After breaking out downwards out of an upward wedge pattern, gold is now at the bottom area of the parallel uptrend. A retracement of between 38% and 50% has been achieved, and I expect gold to move up from here. An initial target of 1267 could reasonably be expected on this next leg up! Disclaimer: This is not trade advise! No liability will be accepted for your...

RaSantana

Waiting for silver to break the $15 resistance area.

RaSantana

The wedge is one of the most bullish of all patterns, and this silver wedge is a beauty! After the breakout on the daily chart at $14.20, the price of silver is coiling like a spring: Up and down, up & down, up & down, up & down, (get the picture?) until it will SPRUNGGGGGGGGGGGGGGGGGGGGG!!!!!!! and the coil will unleash (uncoil) catapulting the price...

RaSantana

The gap has been truly filled and then some. If there is more upside to be made, then this looks like the spot to enter a buy.

RaSantana

Whether or not silver is also forming a right shoulder of a head & shoulder pattern, or whether it is forming a pennant type pattern is really immaterial, because looking at the bigger picture it can be seen that we are at the lower end of a huge parallel uptrend. The red line NL represents the neckline of the H & S and once that is broken it would represent a...

RaSantana

I'm following a less precipitous uptrend now, where the green arrows show my entry points and the red arrow shows my exit point. The second green arrow shows where my latest entry point is close to the bottom of the new uptrend. Stop loss should be placed below the bottom trend line, and incrementally moved up as the price moves up in order to protect profits...

RaSantana

After breaking out of the bullish wedge pattern, silver has formed a solid uptrend. Once it breaks $15, we're off to the races!

RaSantana

I'm sticking with the uptrend until I'm not, or until the bottom trendline is broken.

RaSantana Updated 

The Relative Strength Index (RSI) is on the blue support line, causing me to see on the daily chart what appears to be an uptrend in the making. It always seems to be darkest before the dawn, and I'm looking forward to seeing the break of day!