Our existing positions ASSET--XAGUSD Sell Limit Price: 15.500 Take Profit: 12.80 Stop Loss: 16.46 ASSET-GOLD Sell limit Price: 1231 Take Profit: 1080 Stop Loss: 1275 ( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price...
At the moment of writing this alert our full 250% net short position in gold 0.14% 0.79% , silver -0.06% -0.26% and mining stocks are well justified from the risk and reward perspective. In other words, for the first time ever, we increased the position size to 250% of the regular position. GDX ETF-the outlook for mining stocks remains just as bearish as it...
At the moment of writing this alert our full 200% net short position in gold, silver and mining stocks is well justified from the risk and reward perspective. The HUI Index Special Breakdown .The HUI Index broke it's previous 2018 low and moved below the 61.8% fib retracement .There had been almost 5 attempts to break below this specific...
I have 3 main scenarios and the good news is that they will reveal themselves very early next week. Scenario 1. The current correction is an abc, in which wave c has already extended slightly over 1:1 (Pt. 2). This would point to the price facing very strong resistance at its current level and failing to break higher. If price fails to break above $15.55 and also...
Just got stopped into a short trade. Will target 15.221 as both the larger degree and smaller degree wave 1 extensions put the 1.618 extension there. Good enough for me. There should be a healthy bounce after that.
After having posted some rather bearish views, here are a couple of bullish views. First, if the current triangle is wave (B) in an ABC correction then after the recent 5 wave down move (5 valid waves are present on some charts for silver and not for others (as the wave (ii) extreme is slightly higher than a 100% retracement on some charts - and not on others -...
Silver should shortly break the sub-wave (iv) low to confinue the wave (v) move that will finish the larger degree down-move. Expecting a bounce after that. Both the larger-degree wave extension and the smaller degree wave one extension put the 1.618 extension at 15.210 and thats good enough for me as a target.
Precious metals are not in good conditions right now
This setups is similar to Gold, but Silver hasn't quite developed as far yet. I am still waiting for a completed kumo twist and chikou span to raise a little higher to confirm we will indeed stay bullish. So far we have seen price continue to bounce off kijun sen as support which is promising of an eventual bullish breakout. If we can get those bullish...
I love silver more than gold...WHY Well looking at the chart and technology, gold is very manipulated and silver is almost 10x less than gold Plus not to mention 1 oz of silver will get you 6 months of food in Venezuela, not that you are gonna go to Venezuela. Right now it still needs to complete the weekly rising/ ascending triangle. I would not be buying...
Looking like a build up of orders waiting to get filled into the market for Silver at around the 16.00 area. Although this would most likely be for the short term as sellers look to be waiting at around the 17.20 area keeping price contained within the channel.
Silver just tested and tried to break the trendline before a big sell off-I am looking for a correction here to then start of fresh falls to prior lows. I'd suggest look for sell setups once correction completes. Happy Trading.
XAGUSD SILVER / USD, 1D, Breakout or NOT ?
Market cycle is about to restart, consolidation and accumulation has been consistent for several months now and it looks ready to burst out of this wedge soon. Lets look for more volume but this could be a great relatively safe play
Although the price essentially bounced off the 16.200 soft support, I expect that the 4H Channel Down (RSI = 42.365, MACD = -0.059) will test the hard support of 1D at 16.040. The Lower High (Highs/Lows = -0.0021) is priced at 16.391.
So guys that's my look for silver. It's not over but we have to wait for one more downer i think. Took your own plan for trading please. Good luck.
While the gold miners are looking to finish the ABCDE triangle consolidation shortly, they still have not decided whether they will go lower to touch the E at the bottom of the triangle or break out early and leave E behind. Hi Ho Silver however, already gave us a fake breakout first, and has now gone down and touched the lower triangle point E. This is a buy...