Why I won't be 'shaken' out of my Silver-accumulation longs
Updated
https://www.tradingview.com/x/z7HcIwBf/
Please, check out my charts. The 4HR, Daily and Weekly.
How bullish is looking for Silver. Today's price-action has already taken out last weeks high.
I recommended to many of the traders following me here on TV, to get into a Long position(s) in Silver today. Why? Well without even speculating on the FED making it's move on interest rate reductions & where my personal view is the obvious one that the Gold price is going to skyrocket, notwithstanding this the Silver chart on the high T/F's is so bullish at the moment.
If one of the Gurus tells you to sell Gold or Silver at the moment and take TP, you are losing the compounding effect of accumulation IMHO. Just chuck on a loose trailing stop. But make it loose because the market-maker 'coats' will drive price down to your stop & take you out. I see it time and time again, which is why I generally only use 'soft-mental-stops'. I'd rather lose the lot myself than have a coat take me out.
Please, check out my charts. The 4HR, Daily and Weekly.
How bullish is looking for Silver. Today's price-action has already taken out last weeks high.
I recommended to many of the traders following me here on TV, to get into a Long position(s) in Silver today. Why? Well without even speculating on the FED making it's move on interest rate reductions & where my personal view is the obvious one that the Gold price is going to skyrocket, notwithstanding this the Silver chart on the high T/F's is so bullish at the moment.
If one of the Gurus tells you to sell Gold or Silver at the moment and take TP, you are losing the compounding effect of accumulation IMHO. Just chuck on a loose trailing stop. But make it loose because the market-maker 'coats' will drive price down to your stop & take you out. I see it time and time again, which is why I generally only use 'soft-mental-stops'. I'd rather lose the lot myself than have a coat take me out.
Note
Trade active
Be careful Shorting Gold but I certainly would not be buying any precious metals until these bearish charts in the Gold price playout to the downside.
As I said in my other thread once this selling completes in Gold it will present a lovely buy order in Gold much lower.
Trade closed manually
The Silver price is showing strength in not getting sucked down with Gold so far, but this could change if and when the Gold price sells off significantly more.Note
CLICK ON THE SILVER LINK scroll to the bottom for an important update on Gold
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