Silver commercials at turnaround levelsLarge specs at lowest OI long exposure in 15 years $SI_F, $SLV
Si1
DeMark Monthly Sell Setup on Gold/Silver Ratiolets see how good this demark trading strategy is. massive rally ins ilver should begin and continue this month due to perfected TD sell setup
Silver breakout coming within next 6m (Spring 18' ?)Silver is approaching a long-term consolidation and has put in a nice selling tail with high volume. We're approaching a consolidation wedge between the long-term resistance with the secular bull support from 2000. I expect a breakout one-way-or-another and suspect it will be in early spring and to the upside due to the Gold/Silver ratio being at an upper extreme.
Silver to $120+ :D2002 rally from $4
2008 peaks at $17
2008 retrace to $8 (23.6% fib)
2011 rally to $50 (261.8% fib)
2014 retrace to $14 (23.6% fib)
20XX rally to $124 (261.8% fib) ???
Volume coming into silverSilver has been selling off here. It has reached some technical resistance and has had large volume last couple of days.
Tiffany & Co - Daily Leaf pattern3 confirmation on my short TIF idea. Looking to add to short on this rally.
Tiffany & CoBased off my TIF/Si1! analysis (see TIF/Si1! below) ...TIF and glaring short. Retail in general a hot topic at the mo.
I'm already short silver at 17.69.
Nesting Sharks, 5-0 Patterns w/ Ichimoku & Fibonacci ConfluencesSo I have been having a pretty good day and might be pushing my luck here but -- this is what I am watching for on Silver for the next 1-2 days (or until proven wrong, anyway).
I am already short based on the near-completion of a much larger bearish 5-0 pattern (idea shared by @pixi -- thanks!). I have now identified two bullish sharks, both of which, if successful, will lead to bearish 5-0 patterns and continue in the direction of my current bias.
Interestingly there is support from the Ichimoku Cloud indicator at the completion of both of these sharks -- the 4H Kijun Sen lies at the PRZ of the baby shark and the SSB is right around the PRZ of the larger. In addition, the baby shark completes right in the area of the .382 retracement of Silver's recent bullish move from ~$16, while the larger completes almost right at the .618. Very cool.
*It is always advisable to watch the price action in these PRZs before taking the pattern so I will be doing so on the lower time frames to decide whether I want to close the shorts and switch to longs at these points.*
If you have any comments or feedback on this idea, or your own view of Silver, please share it!
Secular bull trend in tact Gold is in upward channel on the Monthly timeframe even after the correction from the financial crisis. I think we're testing the major trend support and will resume upward channel.
Silver: Bullish Butterfly/AB=CD Pattern w/ DivergenceI will need to double-check RSI before entering...and also make sure there are no strong bearish candles prior to the completion point. Even better, I may wait for price to show it respects the the zone and re-test.
In my mind small patterns are less reliable but this seems like an great opportunity to try and long silver with only a few pips risk and possibly catch a ride on a longer term movement which a lot of people, including myself, seem to be expecting.
What do you think? Any comments/feedback on this idea or your own views on Silver are welcome and appreciated!
Dollar Gold correlation in early positive phase $DXYSelling oil and accumulating metals was a good move $GC_F
