CRInvestor
Long

SLV - Weekly long 'BoT' setup from $21.98 stop $20.44

BATS:SLV   ISHARES SILVER TRUST
273 1 1
My 'BoT' model (a simple yet effective way to play AB=CD Fibonacci price patterns) suggests the SLV             is a weekly buy at $21.98 with initial stops 1 tick below the swing low of $20.45 (154 ticks risk) and an ultimate upside target of $26.45 (458 ticks). This is a simple play off the gap fill rejection of last week. Should that gap fill rejection fail to hold ($20.44) I would walk. Considering the US Fed's reluctance to turn the printing press's off and their comments regarding relatively low inflation expectations, commodity prices have a lot of room to rally from these levels. The question is, how fast will it happen...
Price entered the gap and that was our 'uncle' point on this trade.....
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out