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Butterfly

In less than half a day, I realized that silver still a scam!In search of a bottom in silver, I realized that protective actives will not protect anyone. I looked at the historical chart of silver and was horrified. The asset that can be bought during the great depression (if lived at that time) is gold and silver. Silver had its own hype in 1865. But before that, silver was worth the dollar, 1 dollar is one ounce. After the release, silver fell in price right up to the Great Depression and depreciated by 80%. Since 1932, gold has made 83x, silver from the bottom until today 66x. But that doesn't mean you have to buy now. Indeed, since 1865, silver has grown in price only 5.5 times. It is absolutely clear that earlier silver and gold were beaten with money, then they lost their value, but through various crises they turned into a defensive asset, but again did not turn into money. On the contrary, people only began to understand at the beginning of the 20th century that value can beat not only in metals, but in stocks and other various assets. Perhaps this led to the Great Depression, too high hopes for the growth of the economy, caused that people began to buy new financial instruments in bulk. After that, it turned out that gold and silver still have some value as an asset when there is stagnation and no development. But look around, technologies are developing, innovations are being created every day. Maybe someday it will end, but definitely not today. Now there is a distribution of precious metals, and gold and silver have huge cycles. This is how I'm being clever after I realized from the chart that gold and silver can only protect against inflation in the LONG TERM. The key word is long term. And after such a gigantic growth, an ordinary correction can hit against the background of which no one will receive any protection from inflation, but only kills. Because against the backdrop of an increase of 8000% since 1932, even 20% inflation looks ridiculous. In such a situation, you can wait for growth indefinitely, and the loss is getting right now. What do we see. Only such an interpretation makes it clear that now is not the time to buy gold or silver in order to get rich next year. Look at the chart for a potential gartley butterfly. Bottom-9. Bottom-9!
FX_IDC:XAGUSDShort
by John_Wayne
USDCADUSD/CAD has been carving out a range since last July, and given the generally strong USD environment it may be ready to begin a sustainable trend. Recent behavior backs this notion up with price action strengthening. The area around 12950 up to just over 13000 has been a tough one for USD/CAD to overcome, with the 12950 level having been in play since the end of 2019. There was a brief break in the middle of May, but short-lived before another big swoon lower furthered along the range. What has transpired in recent weeks has been of interest. Another run tried to develop last month, and while it failed, a low was quickly put in at a much higher level that at any time before. This suggests that resistance is starting to lose its impact and a shift towards higher levels is beginning. A breakout into the 13100s holds will be key. This will start to get USD/CAD firmly into higher territory outside of the range. If we see this develop soon, a trend towards the 2016 and 2020 highs over 14600 looks like it could be in the works. It seems like a long way from here, but given the high-vol regime we are in it could come much faster than one would expect. On the flip-side, if we see recent strength give way to selling it will be important to see price hold up above 12819. Otherwise, if that doesn’t hold look for more of the same old range, with a move back towards 12500 or worse developing . Source : Dailyfx
Short
by UnknownUnicorn25002542