Lanmar
Long

Massive opportunity in Silver - calling the bottom

FX:XAGUSD   Silver/U.S. Dollar
923 15 17
I am long from 16.50. I DO NOT think prices have bottomed yet.
Comment: Setting up to his the 17 handle on Monday

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Comment: First layer hit. (I think this is more likely to be a bear market rally, so be aware.)
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Comment: No interest in trading in and out of this. I am adding to my position this week. Smells like an explosive rally is coming.
Comment: I added on Friday at 16.35
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Comment: Pattern formation and directional possibilities I'm seeing right now:

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Agree. I have 14.86. 200 sma monthly
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Nice.. Thanks a lot for pointing out the SMA - did not take it into consideration.
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PKA PRO Lanmar
@Lanmar, Love your work, keep it up man.
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@PKA, Thanks a lot. Much appreciated
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Silver looks way more bullish then gold or platinum.
I have $26-$30/oz.coming around June 2017.
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Lanmar PRO kaotic363
@kaotic363, Agree
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Where is the intra day setup invalidated in your opinion?
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Lanmar PRO Ranothil
Good question. It was invalidated for me yesterday in the late afternoon when it was trading at 16.60. I have no intentions on buying in any intraday timeframe atm. Reason being, the intraday risk is no longer sensible. Very easy to get stopped out at this point and price reverse higher. For example - you go long at 16.30, where will you place your stop? Under the low of last week? 15.90 - 16.00? Why do that if that would be a good entry on the daily? So the only risk that makes sense is a wider stop (daily+) or just wait for improved price action.
+1 Reply
Ranothil Lanmar
@Lanmar, thanks so much for replying you are really helping me learn and are the most accurate market predictor ! :) great work man
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Lanmar PRO Ranothil
@Ranothil, Thank you! Glad I could help you on this wild endeavour!
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What do you think of the current rebound from the buy zone?
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Lanmar PRO Ranothil
Watch the 17.10 level. It´s a cautious buy
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Ranothil Lanmar
@Lanmar, Because price is spiking so fast, I think they are going to reverse it for one more down to retest December lows. I don't think it can break this time
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This chart still works, any updated thoughts of late? TY
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