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Contrast Weekly vs Daily Timeframe OBV and RSI indicate a possible bounce to the upside. Keep eye on intraday for continuation downward or break to the upside. If you wanna play both sides a straddle or strangle option strategy two or three months out might be ideal. For a one sided trade check OTM (out-the-money) contracts and the Vol in the options contracts relative to the strike price before purchase - 220 and 125 or 200 and 140 strike price might be ideal. Also don't wait to long to purchases options contract, because as directional price movement becomes more apparent and as Implied Volatility creeps up the more expensive the options become.
NASDAQ:BIDU
by TraderMD
Silver starting wave 5 on a multi year timeframeHi Folks and Fawks, Many of you noticed the gold breakout of its downtrend last month, while near future still is bearish on gold, the long term projection is extremely bullish. Looking at the Gold/Silver Price Ratio we see that the ratio is at the 80x level, this was the top in 2003 and in 2008 before the infemous pice of $48. while silver price is staying a little behind on gold this can be explained. we could see $18 silver this week Last week silver opened at 15.195 high 15.565 low 14.785 and after the drop following the US labor figures silver closed (just barely) above the extended lower trendline (15-12-2015 - 29-02-2016) there will be some resistance at the $18.40 level The current gold silver ratio is 81x weekly fundamentals: - India (worlds 2nd largest silver importer) jewellery shops and establishments (incl. bullion markets) are shut since March 2 after finance minister Arun Jaitley announced one per cent excise duty on non-silver jewellery. weekly technicals: - Two weeks ago we closed with a Engulfing Bearish candle. this followed on a monthly Bullish Engulfing candle (Nov). another event to follow closely, the shanghai gold exchange Yuan-Gold Fix (april 19th). i will continue to update this idea on a weekly basis. this posting is not a signal to buy or sell now, always find your perfect entry on a lower timeframe.
FX:XAGUSDLong
by nl
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