chartwatchers
Short

Silver - Late faller (Short term trade idea)

FX:XAGUSD   Silver/U.S. Dollar
4544 61 70
Silver             is not falling with gold             right now. I think gold             will have at least one more day to drop.
It could be low risk trade to sell silver             now with a stop above 20.7.
We might get a 1 $ drop in the night or tomorrow.

Target price is at the bottom of the bull flag : 19$

I'm trading this one on my account.
Comment: This idea is valid for 24-48 hours maximum.
If gold continues its decline tomorrow and silver is just lagging we have to forget about it.
If gold pops tomorrow and gold's decline starts to stretch for a week we might hold this short till Friday maybe Monday.
I will post here if this trade is closed
Comment: Silver not poping with gold...
It has a date with the bottom of the bull flag at 19$ in the following days....
snapshot
Comment: Still holding the silver short.
As gold is moving down into the DCL silver will follow to the bottom of the flag.
It will be a very fast move. It will fall 1$ in 5-6 hours.
Comment:
snapshot
Comment: Get ready guys,
I think the drop starting here also.
It could be very fast: 4-5 hours of strong decline.
Comment: Now I would like to see some real pain here also.
Silver drop is very fast. If it starts it can print a 1$ drop in 3-4 hours.
Comment: Ready?
Comment: Thus were born.
Ok then steady.
Comment: DROP!
Comment:
snapshot
Comment: The bottom of the flag is at 18.50. But I will take profit between 19.10-19.30
Comment: We have started to move to the bottom of the flag.
snapshot
Comment: Silver cannot break away from the upper trendline.
I'm still holding this short and I will take profit immediately as price tags 19.2$.
This kind of trendline-crawling could be bullish after 2-3 more days.
snapshot
Comment: We might be in a triangle / pennant ...
If it's a triangle it can break down or up.
If we are not breaking down in 2-3 days I'm going to close the position
as I don't want to be get caught in a pennant which breaks to the upside with a 5$ rally to 26$...
So I would like to see a break of today's low very soon.(tomorrow or the day after tomorrow)
snapshot
Comment: One could take profit on half of the position.
I think tomorrow we will continue the decline but always good to close some profit.
Comment: Closed half of the position at 19.271$
I found it very visible on SLV weekly chart for longer term projection. Take a look:
snapshot
Reply
Any comment on Silver for this moment?
Reply

You think it we will continue the decline to 19$? or we just have bounced and should be safer to close short ?
Reply
SLV put option position closed: +13%

Apri rocks once again! )))
Reply
looks like we have broken out of the triangle to the downside.....finally!!
Reply
How long you have held you shorts? You plan to close till the end of the week or earlier?
Reply
last chance to down ?
Reply
Would it still be good to enter a short position?
Reply
At around 20$ could be a good enter for a short.
Reply
I would wait for a retest of trendline Support turned Resistance. But keep a short leash on this puppy...

snapshot
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out