Long on the completed bullish bat pattern. I will be buying this as a buy stop order as displayed on the chart. Trade is based on the following :- a) Bullish bat b) Pin bar printed on daily chart c) Divergence d) Price is at the bottom of the range (18.34 - 15.66) e) above the blue trendline and last week low SL and TP on charts.
Gold is hated but most because it is the antithesis of greed, which has been feed for years by central banks around the world. I'll be frank, I was rather bearish on the shiny metal an forecasted $1,035 per toz. in 2013. However, as the charade of lackluster growth and quasi-monetary policy continued, gold's fundamentals are bullish. It is too simplistic to...
Weekly Bars and Profiles of the moves up and down across the range here from 14 to 18.50. The contracting range across the Dec-January initial range is a sign the market is waiting for news. The recent green uptrend (boxed in green) is still intact but it sitting on support. The rally has had 3 weeks where the price range EXPANDED on the upside where the...
As a student, Interesting to see waves like this. When reading the time frame ; Expecting a buy with in 5 - 10 days. NB:- I just practising my study about Elliot Wave Theory. If anybody feels it is good, Try it your own risk...!
Sliver seems completed 5 waves down trend. It is very likely going up for a long run. The next important resistance level is around 18.5. If it breaks, it will go up to around 21.2. We might see this target at the end of this year. It is a good chance to buy from the pull back. Enjoy the trading!
Notice how Silver price is now trading out of the long term downtrend line after its massive rally to all time high of $ 50. We continue to expect price consolidation and a possible low to retest the 13.50 to 14.50 levels to confirm a reversal sign (with the addition of RSI divergence and a double bottom?). Silver need to break out of this triangle with the...
Silver continue to trade in this symmetrical triangle and a breakout looks imminent. The biased is for further downside and measuring the height of this triangle (as a means for profit taking measurement) will take us south of 14.50 or more. Your essential Precious Metal reading, please go to: thebulliontimes.wordpress.com and www.sharpspixley.com
16.53 last 18.00 target 16.125 stop Reasons: 1. Cluster of 5 days where the high is very similar = explosion pattern. 2. Range expansion "UP-bars" on the daily chart highlighted with blue triangles. 3. Range expansion "UP-bar" on the weekly chart 4. Volume building at the 16.50-16.60 level appears to be a breakout level if breached could lead to a...
Decision imminent, only couple days till end of patterns. Diamond is in principle reversal pattern. And this time? Has anybody target for gold 1387 or for silver 20? Maybe lot of traders got too bearish and it is time to catch them on wrong foot... I was quite long in bear camp too... Gold has tried upside already, rejected so far... I know, there are HS...
If you like gold's trajectory/bullish in gold, the cheaper metal is the one to get. Silver on its own trades directionless, except that it is tracking the movement of gold. Similarly this can be seen in other markets such as Bitcoin, when considering BTC vs LTC. Except that its in a more extreme manner than the other. Since the last major bubble that peaked...
There are 2 Trade plans but both need confirmation of the breakout and a retest of the breakout area (i.e. resistance should and must become support to validate the breakout) 1st Game Plan - Long Silver at 16.71 stop at 16.03 (risk 68 points) Target 17.71 (100 points). Stop is rather wide but look to raise should breakout validate by testing the previous...
Corrective move met resistance at 16.49 pulling back ideal target to break even is 38.2% retracement 16.29 (to minimise risk) target 50% retracement to cover all - intraday
Looks to keep grinding up, at least for another 6 months in this rising wedge. You can't trade between silver and gold, but its certainly worth taking a look at the key support/resistance. On the break of this rising wedge, I might consider trading some of my physical gold bullion I've collected over the years for silver.
Out of interest I made this chart for further purpose. left hand: XAGUSD 5y chart (Silver) right hand: XAUUSD 5y chart (Gold) Silver has a nice rendezvous in June 2015 - interesting to watch for. HOWEVER As gold is the driver, it could be a non-event tho'. Indeed XAUUSD has not this kind of convergences on the chart.
Gold is showing signs of an intermediate term downtrend, whereas silver has no signal of further continuation of the downtrend it began since the commodities boom in 2011. The Silver/Gold ratio chart also shows an interesting level in effect, and a possible bottom, meaning it might be time to exchange our gold for silver... As a sidenote, the usdollar/dxy chart...
I noticed that Silver can potentially put in 2 smaller advanced patterns, especially if price action decided to consolidate. I got a question on the USDCAD chart I posted the other day about trading a technique that we used to call the "Aggressive C" I said it was a horrible idea for the most part , but this would an example of a situation that would make sense...
XAGUSD seems to be forming Wolfe Wave 4-5 towards 15.50 triple bottom support level. Target TG can be set at 15.75 with stop SL above 18.50.