Introduction:
In the nuanced world of options trading, the Iron Condor strategy stands out as a sophisticated yet accessible approach, especially suited for markets that exhibit a balanced demeanor. This strategy, belonging to the "Options Blueprint Series," is designed for traders who seek to harness the potential of stable markets. Iron Condors offer a way to...
Silver may be coming in for a pullback. It traded it's first longer time frame bear fib on Friday afternoon, selling off in the last 4 hours of the session. Silver has been considerably weaker than gold, so should the sell off continue, expect to see sliver trading it's HWB long at the 50-61.8% line. In terms of Elliot Wave, there is a wave count starting at the...
Huge selloff of Silver in the early market hours prior to FOMC Meeting Minutes release
Price action hit confirmed demand zone
Also confirmed by timing on DXY in Supply Zone/Strong Resistance
Commodities in general have been becoming more expensive generally(Check Commodity Indices like CRB)
2.19.24 In this video I was trying to make a decision with regard to direction for the dxy which affects silver if one goes up the other goes down.... and I was trying to make a decision as to whether or not I would stay in a long position in oil if my trade was profitable already where would I just get out of a long position in oil. since it's close to midnight...
With an understanding that the price is within the resistance zone around 23.5, there is a likelihood of a correction occurring before the price moves higher. After reaching the highest resistance level at 23.70, there is potential for short-selling, with a swing zone between 22.5 and 23.1. Following that, the price may reach support at a strong level around...
Silver pulled back to the resistance level following the double bottom.
If the market fails to break through the resistance and fibo inversion levels, we can sell from the kill zone.
We anticipate a short-term pullback since the market overall is in the consolidation zone.
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after strong selling pressure after CPI news
selling pressure seem to be less
so I bet that price will go back to point of control of this month
with RR = 2
MACD bullish div. used to confirm this entry
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 23.2/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
Silver dropped from the resistance, and it created a descending channel.
Price action created a resistance and a 61.8% fibo level as confluence zone.
If the market fails to break through the resistance level , we can sell from the confluence level.
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