faylee
Long

Silver will be more bullish than Gold

FX:XAGUSD   Silver / U.S. Dollar
I opened long at $18.21

long term target $22
Comment:
Comment:
I would short gold with silver, or do a pair trade. I'm flat now, but considering it.
Reply
faylee IvanLabrie
you meant you will short now?
Reply
I haven't made up my mind, but to me, the XAUXAG looks like a potential short.
Also, the ratio is very high, historically speaking.
Reply
IvanLabrie IvanLabrie
There she goes:
Reply
Hyobu IvanLabrie
@IvanLabrie, lol. How did you manage to predict that. Based on what history did you know it was going down???
I'm not very experienced and would like to know.
Reply
@Hyobu, You mean gold going down?
Based on fundamentals, and commitment of traders readings, price action in multiple instruments, and the sentiment.
I'm waiting to buy gold, eurusd, now. We might go below 1198-1180, and flush out all longs and turn the sentiment around, forming a bottom.
This I think can coincide with an intermediate term top in SPX.
Reply
Hyobu IvanLabrie
@IvanLabrie, Ok thanks!
Reply
So you are bullish on Gold too?
Reply
faylee lbg01
yes
Reply
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