MY VIEW: STRONG SUPPLY LEVEL HH, HL TREND CONTINUATION FORMTION 0.618 FIB % RETRACEMENT DAILY CHANNEL STRONG MACD DIVERGENCE RSI ON OVERBOUGHT SIDE
Silver has seen an unexpected rally to most and continues to show strength as holdings of silver-backed ETFs reach all-time highs. Since posting "Potential Inflection in SLV: Price Action and Options," (under CommoditiesTrader) SLV is up almost 22 percent. However, near-term there will be a correction to work off the overbought conditions. The RSI was quite...
PRICE ACTION TRADING. FIRST STEP Draw the channel. And check how the price moving. HL- Higher low HH-Higher high LL-Lower low LH-Lower high STEP TWO Draw the support and resistance lines. PRACTICE,PRACTICE,PRACTICE AND PRACTICE
Demand Zone highlighted in yellow on the weekly chart. Buy on pullback to demand zone. Entry: 2.86 Stop Loss: 2.46 Target 1: 4.00
AUY has, along with all other miners, performed spectacularly in 2016. Long term, this stock, along with others in its sector, are a HOLD. Short-term, expect some profit taking here at resistance ~4.76
Very decent long setup Several confluence, including Horizontal support 1.09724 Trend line pull back x2 Fibonacci 0.618 High probability level influencing price greatly Previous HH Made Looking for a HL Bears weakening shown by the long wick previously Take Profit:is based upon ABC(D) completion Stop Loss: Below structure support