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 upper line in red with the bottom line in green. So big has morphed into bigger, and best uptrend. As always, use stops to minimize losses, because when this gold market takes off and we are on the right side of it, we will be looking pretty good! Personally, I am not interested in short term trading, but in taking a long term view of silver & gold and holding. That's why I'm maneuvering to position myself for the long term. Buying on the dips, and accumulating is the way to go for me at these prices!
Comment
⋅
See the latest update posted on 24 December. The bottom trendline has been adjusted slightly.