Silver XAGUSD Long position + my read on the markets + Crypto
With USD breaking down nicely mid to late last week the market was pricing in the inevitable record drop on quarter USD GDP .
I'm still very Bullish ok Silver and truely believe the USD has a long way to go yet to the down side which is of course Bullish on Risk on investments.
Whilst i do believe Silver will post new Highs this year ill be looking to take profit before the highs and tightening stops along the way whilst allowing for Silvers rape spikes down to take out resting liquidity.'
If price drops to 24 big figure ill be looking for a reentry with same premise for take profits.
I'm also very bullish on Silver miners in non volatile countrys such as Australia whos mines are responsible for a large volume of the global output and are also in areas whereby Carona virus is under control. SVL on the ASX is my pick out of the lot in AUS for a potential 20 X plus return over the next 6 months.
Re Crypto we have finally seen a decoupling of Crypto from the Stock markets which has now bought me into stacking mode on projects i have a long term view on as more money pours into this space. By decoupling I mean we are now seeing upward close days on Crypto with the US stock market are posting a downward close. As I write this the total market cap on Crypto is only a whisper away from hitting a 50% retracement from all time highs posted late 2017 of which I've been holding my bag since.
This is my first post here on trading view so excuse the poor markup, ill endeavor to keep posting my analysis on metals, commodity's & crypto with view to holding me accountable to my trades.
Please feel free to comment & or subscribe as this will motivate me to share more.
Watch your levels of leverage people as Silver is knows for rape spikes as I call them (raids on stops when the market is thin through ASIA)
The above is not my trading advice, merely my opinion on positions I personally am taking. I've been building into Silver since 18 - 19 big figure and staking as we go.
I'm still very Bullish ok Silver and truely believe the USD has a long way to go yet to the down side which is of course Bullish on Risk on investments.
Whilst i do believe Silver will post new Highs this year ill be looking to take profit before the highs and tightening stops along the way whilst allowing for Silvers rape spikes down to take out resting liquidity.'
If price drops to 24 big figure ill be looking for a reentry with same premise for take profits.
I'm also very bullish on Silver miners in non volatile countrys such as Australia whos mines are responsible for a large volume of the global output and are also in areas whereby Carona virus is under control. SVL on the ASX is my pick out of the lot in AUS for a potential 20 X plus return over the next 6 months.
Re Crypto we have finally seen a decoupling of Crypto from the Stock markets which has now bought me into stacking mode on projects i have a long term view on as more money pours into this space. By decoupling I mean we are now seeing upward close days on Crypto with the US stock market are posting a downward close. As I write this the total market cap on Crypto is only a whisper away from hitting a 50% retracement from all time highs posted late 2017 of which I've been holding my bag since.
This is my first post here on trading view so excuse the poor markup, ill endeavor to keep posting my analysis on metals, commodity's & crypto with view to holding me accountable to my trades.
Please feel free to comment & or subscribe as this will motivate me to share more.
Watch your levels of leverage people as Silver is knows for rape spikes as I call them (raids on stops when the market is thin through ASIA)
The above is not my trading advice, merely my opinion on positions I personally am taking. I've been building into Silver since 18 - 19 big figure and staking as we go.
Trade closed manually:
Stopped out on new positions at BE +1
Per my analysis on USD basket i do believe some time today in London NY sesh we will see a fake out higher on USD so ill be looking for a reentry on XAGUSD around 24.00 to 24.20 with view to XAG bullish move continuation north to 25.80
I've been building into positions with silver so quiet happy to wait for the next minor bull back to achieve optimal pricing.
Looking at the news calendar we have some minor news 12 hours from now that could be used as a catalyst for a temporary bullish move on USD.
I'm looking to get a fill around 24.20 and setting stops to 23.80 - take profit 25.80
Per my analysis on USD basket i do believe some time today in London NY sesh we will see a fake out higher on USD so ill be looking for a reentry on XAGUSD around 24.00 to 24.20 with view to XAG bullish move continuation north to 25.80
I've been building into positions with silver so quiet happy to wait for the next minor bull back to achieve optimal pricing.
Looking at the news calendar we have some minor news 12 hours from now that could be used as a catalyst for a temporary bullish move on USD.
I'm looking to get a fill around 24.20 and setting stops to 23.80 - take profit 25.80
Trade closed: target reached:
Managed to reenter at 24.20 and hit TP of 25.80 I'm sitting on the sidelines to wait and see what price does with US news in NY sesh later today to potentially add more positions if they do a fake-out higher with USD as ill be calling BS on the move.
It would not surprise me to see Silver drop back to 24.80 giving me a good signal for a new silver position post USD news.
Don't forget to click Follow to receive further silver calls.
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It would not surprise me to see Silver drop back to 24.80 giving me a good signal for a new silver position post USD news.
Don't forget to click Follow to receive further silver calls.
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