SILVER BUYING & SELLING ZONESSilver buying and selling zone
price action with good RR ratio is most imp to knoow before placing a trade
SILH2024 trade ideas
UPDATE: Silver trajectory remains up with target at $37If you place the regression channel you'll see Silver has been on an uptrend for the last few months.
We have had a Reverse Cup and Handle and the price has been above both 20 and 200MA...
So with the Zig Zags, the price will continue to move up until it reaches the first target at around $37.25.
Silver is the second type of safe haven that is common for investors to buy during risky market conditions. Simlar to gold - but is generally on a slower path up.
Silver bull ideaMy predition is that we going straight for 50 Dollar.
see you @ top.
In the long term i also see cup and handle.
Silver: History May Not Repeat, But it RhymesGold (June) / Silver (July)
Gold, yesterday’s close: Settled at 2392.9, down 33.0
Silver, yesterday’s close: Settled at 31.496, down 0.582
The metals complex was bludgeoned yesterday and given the late session selling, settlement prices do not do it justice. While risk management becomes more important than ever during times of uncertainty, pullbacks or corrections can last longer than one is comfortable, it is also equally as crucial to back out of the forest to see the trees. It is a time like this that I am reminded that during Silver’s path to $50 in 2011, there were multiple corrections of $3 or more. In February 2011, Silver broke out above its December high of 31.27 and on the third session, stretched to a high of 34.33 before consolidating a day and plunging to a low of 31.69. There were four instances like this before Silver peaked at 49.82 on April 25, 2011.
Yes, our Bias remains more Bullish, and it becomes imperative for Silver to have a constructive path and hold out above our two waves of rare major four-star support. The first aligns the April high with the .382 retracement back to the May low at 30.19-30.27. Last night’s low was 30.36. In the case of additional pressures, we will look to a critical area at 29.50-29.72. If that is surrendered, the bigger broader narrative is bending.
Bias: Bullish/Neutral
Resistance: 2375.2-2377.8**, 2385.3***, 2389.6-2392.9***, 2398.9-2400**, 2408**, 2416.2-2417.4***
Pivot: 2369.7-2370.6
Support: 2356.8-2360.2**, 2349.8**, 2340.3-2343***, 2322.5-2325.1***
Silver (July)
Resistance: 31.18***, 31.28-31.32**, 31.50-31.61***
Pivot: 30.91-30.96
Support: 30.63-30.73**, 30.36-30.43**, 30.19-30.27****, 29.50-29.72****
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Silver next stop likely $36Silver continues to find support and is likely headed to $36 next. Ultimately we could see $50 in the months/quarters ahead (say thanks to the Fed criminals).
Silver Futures Under Pressure Yet Targets Remain Intact Today'sToday's silver futures are experiencing some pressure, reflecting a challenging day for the precious metal.
Yesterday, there were outflows in the portfolio on June 25 from strikes of 32.5/35. Outflows of funds from the portfolio are partial and did not lead to the liquidation of the portfolio, which indicates the management of the portfolio in a negative scenario, however, they do not cancel the most bullish idea in the medium and long term.
Despite this, the previously set targets based on the significant positions held by informed market participants mostly unchanged. in addition, it is not the first time that extremely aggressive portfolios appear, aiming at the area of 45-50 dollars.
It's a reminder that in the commodities market, short-term fluctuations are often just noise against the backdrop of longer-term trends and targets.
Defining the Next Leg in Silver and GoldGold (June) / Silver (July)
Gold, yesterday’s close: Settled at 2438.5, up 21.1
Silver, yesterday’s close: Settled at 32.426, up 1.167
Gold and Silver futures each set a fresh record high on Monday and have since consolidated in a large range, which is to be expected. This range is now well defined with major three-star resistance in Gold at 2448.8-2454.2 and Silver at 32.58-32.75; a failure to move out above here could certainly encourage some profit taking, but it also does not have to happen today. To the downside, a soft tape early yesterday and overnight has defined support to be 2408.5-2411.1 in Gold and 31.11-31.28 in Silver. While we do see a number of significant levels of support below here, a range extension to the downside would encourage a consolidation that could last over a number of sessions.
Bias: Bullish/Neutral
Resistance: 2436.9-2441.5**, 2448.8-2454.2***, 2494***
Pivot: 2426-2431.5
Support: 2417.4**, 2408.5-2411.1***, 2400**, 2391.7-2395.5***, 2385.3-2389.6***, 2375.2-2377.8***
Silver (July)
Resistance: 32.34**, 32.58-32.75***, 34.12***
Pivot: 31.69-31.85
Support: 31.11-31.28***, 30.73-30.79***, 30.39-30.43**, 30.00-30.19****
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
I'll make it very simple for you. #silverthis candle needs to close month solidly (with minimal wick) above 28$ and convert that resistance into support
35$ is the next important resistance level
Buy Silver.Fibonacci levels are mentioned in the chart. First target of 85K already hitting. Second target would be 95K. Third target would 1.2L. Massive run expected from 95K to 1.2L.
For educational purpose only.
Silver at the top of a channel?Silver has been trading traditional fib longs and and extensions in this big bull runup. However, we are very overextended, trading well in excess of big support over the past two days. We are also at a potential top in terms of it trend channel. The risk of a decline in silver is significant, and unlike gold which gives you a clue on the fifteen minutes charts, silver could simply start falling and keep going. Given the lack of bull fib support, I think this is a good spot to take profit and enter a small short position. There is a good chance that we begin the down leg of silver here.
sell silverlooking for some short trade in silver
after such ,asssive move i am expecting a correction
SILVER (SILN2024, XAGUSD)... BULLISH BIAS!Bias is Bullish.
The reaction to news and world
events was enough where there
was no need for the +FVG to be
mitigated before the rally.
Lots of momentum in that move.
All HTFs are bullish.
Although we selll above highs as
a general rule
Expectations are for the DOL to
be reached over the next week
or so, as price grinds higher.
For buyers, wait for pullbacks into
+FVGs on LTFs. Buying at the top of
a rally is risky bisky.
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Weekly Forex Forecast: May 20-25th Part 2This 2 part video covers...
- USD Index, EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, USDJPY
- S&P500, NASDAQ, GOLD, SILVER, CRUDE OIL
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Thank you so much!
May profits be upon you.
Gold led the wayGold's breaking out months ahead versus inflation was giving us clues to what might eventually happen to silver.
We know now.
#gold #silver
Silver's Best-Case ScenariosThis is not to be taken as a trade. You may use it as part of your collection of 'research' before making your own decision, however.
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These are explicitly the "best-case scenarios" near term.
You can think of the red line as an increasing 'stop loss,' or better put, validation line. So long as the price is above the line, paths such as these are possible.
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I thought it was worth posting as it is easily invalidatable (is that a word?) in the near term with a close below $25, meaningfully below, say 24.75.
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I'll close with a quote from a friend,
"You Will Own Nothing And Be Happy,"
Please remember that my friend implies you shan't own precious metals. This is easily achieved, in part, by assigning a higher price to the metal- do expect a substantial increase over the next 10 years.
Silver Monthly#Silver getting another shot at glory!
All it has to do is end the month close to 30$ and the flood gates open...
Sounds easy right?
Another Viscous Wave of Selling From $30? Gold (June) / Silver (July)
Gold, yesterday’s close: Settled at 2394.9, up 35.0
Silver, yesterday’s close: Settled at 29.729, up 1.027
Gold futures secured the highest settlement since April 19th, while Silver took out its April high settlement and traded to the highest level since February 2021. Despite the underlying strength and a terrific week, one could view the lack of overnight follow-through as disappointing, and question whether this is another magnificent failure for Silver at the $30 mark. It certainly sets the stage through the end of the week, and the precious metals complex must maintain this momentum or could face another wave of vicious profit-taking.
In order to maintain yesterday’s momentum, we must see price action in Gold hold above first key support at 2380.3 and Silver above 29.72-29.80.
Despite some of the near-term swings, we view the strength across both precious and industrial metals as sustainable over the longer-run. There is a push for increased electric power use because the green energy revolution, rising E.V. Vehicle demand, and advancements in A.I. have all strained the out-of-date electrical grid. The combination pushes demand for copper, silver, and other metallic metals higher for the first time in a decade. That comes at a time when increased regulation makes it harder to bring on additional supply.
Bias: Bullish/Neutral
Resistance: 2399.4-2404.3**, 2410.1-2413.8***
Pivot: 2385.3-2387.7
Support: 2380.3**, 2375*, 2369.7**, 2357.1-2359.9***, 2350.5-2351.6**, 2336.6-2342****, 2329-2330.7**, 2316.4-2318***
Silver (July)
Resistance: 30.00-30.19****
Support: 29.72-29.80**, 29.58-29.63**, 29.37-29.44***, 29.12-29.26***, 28.93**, 28.76***
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Precious Metals going up?Along with its cousin COMEX:GC1! Gold, is sharing similar characteristics of their respected moving averages as well as volume criteria needed to confirm upside potentials. With also an Inverse H&S on the chart, I have reasons to believe this precious metal price could increase
Silver Squeeze Time?Today could be the day silver finally blows. It's stalling at the previous high from the last run up now. If it breaks, things could get out of hand.
Silver Will Continue To Channel In Dual-Flag SetupIf you are trading Silver, you need to see this video. Be prepared for a sideways melt-up in Silver while the dual Flags play out.
Gold will likely move more aggressively than Silver. But Silver will give you two or three opportunities to buy into the lows.
Pay attention.
Several markets5.13.24 Looking for trades in the ES. possibly coffee. There's a chance that oil may move higher. Generally contracted markets are harder to trade than expanded markets... but some traders may feel there's less risk if they stick with the contracted markets... but this is probably not going to be a good way to trade because you want markets that really move away from your entry price which will give you very good reward for the risk.... and that's more likely to happen in an expanding market.
silversilver on multiyear breakout, it has succesfully crossed 800000 level , tetested and now up again for 120000 target. chart is making inverse head and shoulder pattern
