Cycles
Silver takes the escalator up and the elevator down.As I mentioned in my forecast a sell-off occurred and a buying opportunity is here, without too much of my usual rhetorics about cycles and so on - go long on a close above 23.30 and stop loss on a close below 22.
*Please remember that futures trading involves a substantial risk of loss and is not suitable for all investors.
Silver forecast. Great buying opportunity upcoming.Today we have a look at the chart of silver on a daily timeframe. Since the March crash it has formed a cyclic pattern as observed on the graphic - during the first cycle of 93 days or 66 bars, silver touched the trend curve twice - once every 33 bars or 48 days. Starting from the beginning of the second 66 bar cycle, the metal has only formed the top after 48 days. Therefore, from all the said above we can expect a bottoming occur around September 22nd, where silver could touch prices as low as 20.80 (the trend curve). This is of course very unlikely that silver will go down to such extremes but it is theoretically possible. However, it is certain that we will see some sort of a sell-off coming to this date targeting at least 23.8, form a double bottom and skyrocket higher. Either way, we will get a good buying opportunity and closer to the day I will give out a futures long idea.
Investors that want to be short can rightfully do so with low risk and a tight stop at a close above 27.5 - the triangle resistance line. Both technical indicators are bearish, hence selling trading strategies can be applied. I personally prefer to stand aside in this situation and wait for the buying opportunity.
*Please remember, futures and leveraged trading involve a substantial risk of loss and are not suitable for all investors.
SPX Golden Cross Percentage Gain, we r #10 of 11 low ranking !if we are in for a bull run we have more than anyone would wish for :-)
if this is a top, then it would be the second wort Golden Cross bull market.
wish you all the best.
BTCUSD : Higher HI - Lower LO repeating pattern ??Target somewhere around 2K? Ever around the US elections? Tell me. In my opinion, it looks real.
Daily Wisdom 21 - Indicators gauge your feelingsLook at things from a different perspective. Maybe then you will find what you're looking for.
Bitcoin cycling along
Just an idea but if you use long form Fibonacci sequence numbers as extensions of bitcoin's first cycle, you get interesting results. Each of those levels served as major levels of support/resistance.
Just look at that 2013 top and the 2018 ATH.
Each top takes successively longer to play out with diminishing gains in each cycle, and each cycle takes successively longer to reach a peak after each halving.
Using a trend-based fib extension, there has always been at least a 0.618 extension of the previous cycle.
Expecting this cycle to reach peak sometime late 2022 - early 2023 with a potential target of 133k.
