slicedmelon

slicedmelon

Good morning everyone hope you are well. So Silver made it to one of the resistance zones here at 16.8, I do expect that it may stay at this price for a few days .. which it has done for the last 2 days. What is important to note is that it doesn't fall. On my interpretation of the elliot count I am looking for some sort of corrective action starting around...

slicedmelon

So I haven't posted about silver for a little while. It has just been a short story for the last 3 weeks, however after that huge spike down there was a very quick reversal and prices has been up for the last week and a half. Silver is now sitting right on 16.30 and has not move. So for my trades I am kinda looking for a break of price at the purple line.. if...

slicedmelon

Hey all, I think my count is correct.. I don't know what was that spike down I have it at a wave C corrective - but volume says it was a genuine sell.. We are back in that triangle looking structure... Long only when price breaks that purple trendline convincingly... Short everything else.. (I am leaning towards shorts at the moment if it was a day trade...

slicedmelon

Hi all, Just and updated count .. Almost ready for a long.. All the best

slicedmelon

Hi all, The hard thing about typing the publish idea here is that I have to have 2 monitors and I can't really do this on a phone or a pad. So here it is.. as best as I can understand it.. There are a few confusing aspects like the purple B wave is a 5 wave move and that the purple A is so YUGE.. Lets talk about Purple B - the reason I have put it as a...

slicedmelon

Hi All, I readjusted my charts a little... Silver is now in a Long Zone.. Long on break of 16.60!! Stop loss at 16.40 or close to that area Good luck all :D

slicedmelon

Hi All, I know I know I said 16.1 to 16.2 or lower.. Well I still think that.. but we are approaching some trendlines that we just can't ignore.. So I have put some circles in that area where if it breaks through them you should continue to keep moving your stop to that point. We are still shorting now.. until the chart says differently.. just watch out for...

slicedmelon

Hi All, Great to see price still sitting around 17.00 and I think a little above at the moment... To short - wait for price to break down to 16.76 .. your target 16.2 or somewhere near that price... To long - wait for price to find support over 17.30 .. your target should be around 18.1 If price does not fall below 16.76 we are close to a big rally.. if it...

slicedmelon Updated 

Hi All, Just looking at that fall we have to be a little careful because it didn't have a retest of the trend line. So what we should look out for if this bounces up and breaks 17 again.. better to be clear of this short. So our last post we shorted at 17.. it fell through and found support here at 16.4 if 17 is revisited the next target could be rather...

slicedmelon

Hello all, So now we are in the purple box. My suggestion is continue to wait. a) Price to break the red trend line above it - we long as soon as 17.30 becomes support or price is crawling above the red trendline b) Price retests the red trendline and falls to break 17.30 and moves to 17.00 on the break of 17.00 you should short Your stops - If you are long...

slicedmelon

Hi All, So after that last retrace we should now start looking if we can place some long opportunities. On a day trade view of the markets you can almost see this area as a buy opportunity - if the price falls into the purple box I think it is time to go neutral and start looking for shorts. My thoughts are that price is indicating some build for a upward...

slicedmelon Updated 

Hi all, I am sorry for the long delay getting back. Just a few quick thing to say. That last decline was fast and strong .. I tend to think of it like a C wave - I need to recount all my waves because now I see a lot more ABC's. The trendlines did assist in telling us where to start shorting for that last decline. 1) At the moment the most probable short...

slicedmelon

Just a quick one on dax I am looking at another rally on dax to around the 12400 to 12500 area at which point you should be cautious.. -this is just for educational purposes only .. this is not tradeable advice.

slicedmelon

Hi all silver daily chart, Just a heads up I am going to be going on holidays for a month from next week! :D eating and getting fat and all that.. so I won't be doing any posts in April most likely. Current situation - is very bullish. My suggestion for trades is to keep long even when I indicate neutral it is just so that the stops are kept a little further...

slicedmelon

Hi All, If you have been trading (short term) longs into this area you should start taking some profit off the table. 50% is probably a good idea. We are at 18.26 territory where lots of resistance was expected and we have a nice pull back to the previous 4th wave. I do expect some side ways movement here. Suggested trade: Take 50% off the table - Once the...

slicedmelon

Hi All, The moves in the last 2 days has been impulsive and very bullish. We have moved into a longer term descending trendline which may cause either a sideways movement for a few days or a retrace of a greater degree.. Suggested trade: Leave your stop at 17.43 Once you see the price above the green line and rests on it then you can add to your long. Right...

slicedmelon

Hi all, Nice to see silver price is sitting on that purple line.. Those of you with silver long trades from the 17 mark can now increase your stop to: 17.43 I am targeting 18.26 at the moment for the next step and retrace from there back to 18.. for a retest. I am beginning to think this is possibily the most bullish count silver can have - I shudder at the...

slicedmelon

Hi all, Just be careful with your longs here. The resistance here is pretty beefy... Suggested trade: leave your stops at 17.23 .. if price breaks that convincingly it is a short to go lower Longs can enter a trade when price his over 17.80 to 17.90 (i am looking at that purple line). if it kinda goes above and bounces above it, that should be the indication...