HAPPY NEW YEARS TRADINGVIEW!
I figured what better way to start off the new year than to take full advantage of the current sell off in equity markets. In addition to some lucrative short plays, I am really loving the RR of getting into commodity markets.
It's a story as old as time really! Well, maybe not that old, but it is a repeating phenomenon as old as...
I present this potential Cypher for several reasons:
1. This ratio will rise as Silver rises. As the CD leg is
a rally in this ratio, this implies Silver is rising as well.
The fact that this CD leg appears to be setting up for
a move to the PRZ is further implication that the
metals may be turning.
2. IF one agrees that Silver is headed higher longer...
I TEND TO NOT BE A BUYER ON BREAKOUTS BUT THE ACTUAL COMMODITY LOOKS LIKE IT HAS ABSORBED A LOT OF SELLING AND INCREASED OPEN INTEREST. IT LOOKS TO ME LIKE A SHORT, AND IF WE BREAK ABOVE 42.80, 46-48 SEEMS POSSIBLE. i'M USING THE 4/42 CALLS WITH A LIMIT ORDER @ $1.00...DO NOT CHASE THIS ONE...OZ