Idea is based upon Elliott wave theory.More info on the chart. Good luck.
I find it quite risky to buy precious metals right now, but silver is currently testing a support that gave way to a technical bounce at the beginning of the year (see related idea below). All I can say at this point is that silver may hold better than gold, which suggests that buying it may provide a hedge for anyone who is already short on in the gold market. At...
This short is based on current PA, price is trading below 55ma and MA is acting as nice resistance on this timeframe, I will be comfortable with this short as long as the price stays below the last week high or below 55ma. Entry Current market price , will be adding more if the price goes below the last week low at 15.46. Sl 15.80, TP open
Silver failed to close above the 20 WMA at 16.43 and that will act as resistance. Only a clean break and close above will give the white metal a bullish momentum to possibly test the 50 WMA which currently sits at 17.25. Previous cumulative red candles for 4 weeks in a row (end of March 2015 to April) has actually transpired into a similar situation where the...
Silver formed a bearish pin bar sell signal in the daily chart yesterday after retesting: 50 Simple Moving Average Trendline Horisontal Resistance
Bullish divergence is huge on this one, on every new low silver makes on the 4 hour timeframe. Grexit fears should also give gold and silver a push upwards. Entry: 15.956 S/L: 15.665 (Stops will not be hit instantly, until the price closed below 15.665 for at least 2 candles to avoid stop hunters) T/P: 17.29
A potential long opportunity at the completion of a bullish bat which is the 0.886 retracement of the XA leg Stops need to go below X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
Long on the completed bullish bat pattern. I will be buying this as a buy stop order as displayed on the chart. Trade is based on the following :- a) Bullish bat b) Pin bar printed on daily chart c) Divergence d) Price is at the bottom of the range (18.34 - 15.66) e) above the blue trendline and last week low SL and TP on charts.
Gold is hated but most because it is the antithesis of greed, which has been feed for years by central banks around the world. I'll be frank, I was rather bearish on the shiny metal an forecasted $1,035 per toz. in 2013. However, as the charade of lackluster growth and quasi-monetary policy continued, gold's fundamentals are bullish. It is too simplistic to...
Weekly Bars and Profiles of the moves up and down across the range here from 14 to 18.50. The contracting range across the Dec-January initial range is a sign the market is waiting for news. The recent green uptrend (boxed in green) is still intact but it sitting on support. The rally has had 3 weeks where the price range EXPANDED on the upside where the...
As a student, Interesting to see waves like this. When reading the time frame ; Expecting a buy with in 5 - 10 days. NB:- I just practising my study about Elliot Wave Theory. If anybody feels it is good, Try it your own risk...!
Sliver seems completed 5 waves down trend. It is very likely going up for a long run. The next important resistance level is around 18.5. If it breaks, it will go up to around 21.2. We might see this target at the end of this year. It is a good chance to buy from the pull back. Enjoy the trading!
Notice how Silver price is now trading out of the long term downtrend line after its massive rally to all time high of $ 50. We continue to expect price consolidation and a possible low to retest the 13.50 to 14.50 levels to confirm a reversal sign (with the addition of RSI divergence and a double bottom?). Silver need to break out of this triangle with the...
Silver continue to trade in this symmetrical triangle and a breakout looks imminent. The biased is for further downside and measuring the height of this triangle (as a means for profit taking measurement) will take us south of 14.50 or more. Your essential Precious Metal reading, please go to: thebulliontimes.wordpress.com and www.sharpspixley.com
16.53 last 18.00 target 16.125 stop Reasons: 1. Cluster of 5 days where the high is very similar = explosion pattern. 2. Range expansion "UP-bars" on the daily chart highlighted with blue triangles. 3. Range expansion "UP-bar" on the weekly chart 4. Volume building at the 16.50-16.60 level appears to be a breakout level if breached could lead to a...