Get started

Si1! (Silver Futures)

TNX and Precious Metals 8/18/2020This is the TNX at the daily view. There are way too many retail traders who are trading precious metals blindly. The first rule in trading? Protect your profits (capital preservation). Generally, you cannot protect your capital if you're trading something that you don't understand. The ten-year note is important since it has an inverse relationship with precious metals and a correlating relationship with the financials sector (XLF). The TNX is one of the centerpieces of the financial sector. If the TNX does well, then financials do well. However, when the TNX tanks, then precious metals will rally about 2-4 weeks later... usually. Sometimes the reaction is quicker if out of panic. On June 23rd, TNX tanked and moved below the middle of the channel (white line). On July 13th, both gold and silver began their super rally. On August 6th, the TNX began its comeback rally and reclaimed its former uptrend support. On August 11th, gold and silver began their corrective selloff. To predict gold and silver, it's not only how many buyers/sellers there are. Traders need to consider both the dollar strength and the yields - especially the TNX. Now, the dollar strength and the yields are locked in a battle to control gold and silver's prices. According to Bloomberg, the dollar is now overcrowded in shorts. Overcrowded means vulnerable for a fierce reversal. If the TNX holds its support or at least remain flat, that may buy enough time for the DXY to bounce hard. If the DXY bounces hard, then precious metals may pullback further for a much better entry price.
TVC:TNX
by Itsallsotiresome
3
Silver hit target on time! Next projected target at 30.The target previously posted hit target spot on time ! So what’s next? I would hazard a projection that despite the parabolic run, it still might have some legs to go, but am expecting the next target area (green ellipse with red outline) to be volatile. Not expecting a close above 30.30 though... it is just over stretched. IF silver still continues, the;we are in for some serious s hitting the fan... I don’t know what it would be, next week tells more! Btw, for study sake, I have put in the bright green arrows for the typical best entry points. Stay safe....
COMEX:SI1!
by Auguraltrader
When is Silver Pulling Back? 8/6/2020It's a legitimate question actually. I got no clue how to detect a pullback with silver. In precious metals, the price can be overbought and parabolic longer than anyone's expectations. Traditional indicators and price action readings tends to be useless. You have to know the overall demand of gold and silver and why people are buying into it. All I know is that there is a general monthly pullback +/- 3 days of the EOM. It happened on July 30-31 last time. Don't get me wrong. I am very, very bullish with silver and I only see this as the beginning of its bull market. I'll be buying dips on the way up. What are the general resistances for silver? Resistance 1: About $30 Resistance 2: About $40 Resistance 3: About $50 Resistance 4: The moon Resistance 5: Pluto
COMEX:SI1!
by Itsallsotiresome
Silver Consolidation 8/5/2020Silver is finally catching up to gold. It seems that the monthly pullback was on July 30-31... near the 1st of every month. The issue is that silver is how at a key resistance level. Why didn't I enter into silver yet? It's because of the dollar strength. If the DXY has a confirmed double bottom pattern, we might see a bounce in the dollar... and a possible pullback for silver. I'm very, very bullish with silver. I want to enter into it soon especially since the dollar is tanking too. Even if silver has a pullback, it's still in a consolidation phase. If it pulls back, it won't be long before silver reaches above $30. Even if you enter into silver now, in 3-6 months, you'll still end up with profits unless the Federal Reserve suddenly stops existing.
COMEX:SI1!
by Itsallsotiresome
Silver Consolidating Again 7/31/2020Silver at the 4 hour view. Silver made a pullback from its recent exhaustive move. With the dollar collapsing, silver is merely consolidating for another move up. That said, silver takes a long time for it to make moves like the last 2 weeks. Usually, silver goes through a monthly pullback near the 1st of the month. The question is, did this pullback already happen or would the monthly pullback still happen next week? Whenever silver pulls back, it's minor and mainly just to correct the valuation by commodity banks. It would be great to get a pullback to shake off the Robinhooders and chasers. That would be a prime opportunity to long silver... then play the waiting game. That's assuming the dollar doesn't bounce hard - which closed below its 11-year-old channel. I would not short any precious metal during a recession and when the dollar is collapsing. That would be an absolutely foolish move to make.
COMEX:SI1!
by Itsallsotiresome
Dollar Falls, Silver Rises 7/27/2020Well, it looks like I was wrong about silver. I heard some of my trading team members that the next meaningful resistance is just above $26. What I didn't expect was the dollar strength tanking harder than my faith in humanity. I was expecting the dollar to bounce off its 9 year uptrend support. The dollar broke through that after being saved by it for 9 years. As a result, silver is rising. Silver can be a good scalp. I'd prefer seeing a decent pullback first. I don't chase. Every time I chase, I end up getting blasted back. I'll be expecting a monthly pullback when the commodity banks start doing their month-end reporting. Granted, if the dollar finds one of the supports I drew, then I could enter into silver at the bottom of that pullback. Right now, we are in general unknown water. It's like when the NQ rose above 10,500. That's when the buying volume started drying up and people didn't know where the top was. I saw many FOMOers buy into the NQ when it reached 11,000. Terrible move. That's why you don't chase.
COMEX:SI1!
by Itsallsotiresome
Fun is Over in Silver... For Now 7/24/2020Silver futures at the 4 hour view. Silver got a huge boost due to the dollar strength being destroyed. That said, the SLV ETF climbed from the top 200s to the top 16 in most traded ETFs by Robinhood. The typical Robinhooder is a new trader and/or a momentum chaser. When ever you see momentum chasers going for a commodity or a sector, that's how you know the fun is over and you missed most of the rise. Will I think silver rise more? Yes, but not after a decent pullback first. I'm willing to bet these new traders and Robinhooders didn't know that silver and gold get a pullback near the end/beginning of every month. I';ll be waiting for a decent pullback in the next two weeks. When the new traders abandon ship from the pullback, that's when I'll enter silver again. For now, the fun is over in silver until we get a decent pullback.
COMEX:SI1!
by Itsallsotiresome
8
Silver finally ready to go boomThe silver/gold ratio was at all time low, or at least lowest in 350 years, maybe in entire history. Here is what happened with Bitcoin: Maybe the price will hesitate a bit in this area before spiking up So easy making money chasing pumps and riding them short term while they rocket in a single direction Silver assets are all going up Here are a few stocks mooning: www.forbes.com Also remember gold is close to ath, a big part of it is the usd ponzi scheme falling. Gold against most currencies is way past ath. USDOLLAR dying: Sweden really going up as they did not fall for the covid scamdemic. And Bernie was using Sweden as an example of successful socialism xd The USA might go actual socialist with Sweden being an ultra capitalist country haha. Ah those ethics and art studies people, they're just so stupid it's amazin'. Interesting to take a quick look at other metals Let's get an UBI, more black lives matter, more all lives matter except white skin & blue eyes, free money for every body hurray! A basic income to be able to survive is a basic human right hahahaha! Yes more please! More more more so I can keep rubbing my hands.
TVC:SILVERLong
by MrRenev
3
XAGUSD: The 1W Golden Cross may be the opportunity of the decadeSilver (XAGUSD) recently formed a Golden Cross on the 1W chart (when the MA50 crosses above the MA200), having fully recovered from the coronavirus collapse. This is a very encouraging sign for long-term investors as a similar pattern was formed in the early 2000s right before Silver's big expansion. This means that we are either in front of the greatest buy opportunity of the decade on this asset or at least we are getting there. ** If you like our free content follow our profile to get more daily ideas. ** Comments and likes are greatly appreciated.
Editors' picks
FX_IDC:XAGUSDLong
by InvestingScope
9
Silver Attempting $18/oz Support After BreakoutAfter trending mostly below $18/oz for nearly two months silver has recently broken above that resistance level and is currently testing $18/oz as support. If price can manage to hold above $18/oz and see a continued push higher then $19 will be the next level to watch for resistance. Should price fall back within the $17-$18/oz range then $17 will be the main level to watch for potential price support based on recent history. Below $17/oz would indicate the potential for a dip back to $16/oz. The Relative Strength Index(RSI) shows the green RSI line holding just above the 50 level. 50 represents the midway point in the total RSI range(0-100) and in general an RSI reading above 50 indicates bullish short-term price momentum while an RSI reading below 50 indicates bearish short-term price momentum. The purple line indicates intermediate-term price momentum, which is also above the 50 level. In general, during an uptrend in price you want to see the green RSI line rising above the purple signal line and for both lines to be above 50. If both lines continue to hold at 50 and move higher it would indicate that short-term and intermediate-term momentum is shifting bullish. If both lines cross below the 50 level it would indicate a potential shift to bearish price momentum. The Price Percent Oscillator(PPO) shows the green PPO line overlapping its purple signal line which indicates a loss in price momentum since the green line crossed down into the purple line. In an uptrend in price you want to see the green PPO line rising above the purple signal line, and for both lines to be above the 0 level, or centerline, as an indication of bullish price momentum. Both lines trending down and below the 0 level would be an indication of bearish price momentum. For now the PPO is showing a drop in short-term momentum while remaining bullish overall since both the green and purple lines remain above the 0 level. The Average Directional Movement Index(ADX) show the green directional line overlapping the purple directional line which indicates a pullback in the short-term uptrend in price. When the green line is above the purple line it indicates an overall bullish trend behind price, while a purple line above green indicates an overall bearish trend behind price. The histogram in the background indicates trend strength. When the histogram is rising the dominant trend is increasing in strength, when the histogram is declining it indicates that the dominant trend is decreasing in strength. Overall silver looks good for more gains going forward this year, especially if gold continues to move higher. Silver has severely underperformed gold in the rally this year as gold is back to 2011 levels up in the $1,800/oz range. If silver had kept up and went back to its 2011 levels price would be above $34-$40/oz today. Silver seems cheap here, as do mining stocks, if price begins to catch up to gold in gains. My currently held gold and silver mining stocks/ETF’s: GDX, GDXJ, AG, GPL, KGC, HL, NGD, MUX, EXK, CDE.
COMEX:SI1!Long
by PrepForProfit