Silvershort
SLV support levels - OpportunitySLV currently sitting at strong support from 2011, 2012, 2013, with a big gap down to next major support level at $23-ish.
As long as Fed keeps promising to print money and dollar continues to look weak in the long term, I am loading up here. This pullback is very bullish and much needed, shaking out the weaker players.
Best time to take a short profit on selling SilverThe market is now on its way to a new trend. The prices will surly go down for today, but before you realize it they will go up again so make sure buy again when take your profits of selling. Generally, the prices are going down towards the next support so make it your first target, if it is broken then you would shoot for the next line of support only buy a strong buy signal you can sell and buy again to ride the next bullish trend.
SILVER STRUCTURE SHORT|TRADING PLAN
XAGUSD is trading below a strong resistance. The last attempt to break it failed which is manifested in a long shadow within the resistance zone.
Now, the metal broke out of the minor diagonal support, with confirmation, which all taken together indicates that our target trade is short.
TRADING PLAN:
1-short now
2-SL above the mirror diagonal line and the resistance lower bound
3-the ultimate target is at the diagonal support which will draw a silver triangle.
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Silver is showing a strong down movement, best time to sellBe sure of the prices going down, the buyers are trying to win but the sellers are much stronger now.
You can sell now and wait for reaching the next resistance line down and buy again because it will go up again and break the level we are in right now. But for today the prices are surly going down.
Silver short Idea.After silver failed to break 18.400 resistance two times. I think it's time to test the neckline which was done during the downfall. The first target should be 16.600 after that maybe a rebound and then it must have a go at the neckline after which we could see a rally.
Silver Struggling at 100 Month SMA (quickpost)Pretty simple post, since June 2014 silver has struggled to reach the 100M SMA and every attempt or approach so far has sent the price action ultimately to the black trend line. Most recent was in spectacular fashion.
The MACD histogram is becoming one of my favorite indicators because hidden bearish divergence helps to suggest that the MACD itself will have a cleaner break of the signal line or cross below zero (in the bearish scenario).
Perhaps it is my optimism and greed here, but I am hoping for a busted falling wedge pattern where the price action falls below the trendline. Bulkowski considers that a great profit opportunity for when one goes long. thepatternsite.com
As I mentioned elsewhere I am looking for improvements to my system to help me reduce by time in a trade till it performs and also looking to steady my hands once I am in a trade so I can let my winners run. The blue shows where the Volatility stop (calculated at the Daily open,not close) signaled a potential consolidation and support because there were no candle closes below the VSTOP. Likewise the orange areas show that the VSTOP is acting as resistance and we could be in distribution before leg down. I have done plenty of posts on price action and volume action and my general order of precedence is price action, then volume action, then other indicators. I have been in my short ETF for a couple of week now, somewhat patiently holding waiting for this trade to perform. As it stands currently, i would have been using the 100M SMA & VSTOP combo as my entry and not the entry I had use earlier. There is the MACD, which if I am correct would be having a failed cross.
Looking for reversals is very high risk and I have the psychological scars to show for it. But there is also a great profit motive and I am getting really close to a workable system. If I am wrong I take my losses on a clear close above the VSTOP and 100M SMA and decide what to do then.
🤔 Does Silver & Altcoins Share The Same Patterns? 💰 LET'S GET INTO SOME SILVER & TOTAL2 ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Comparison Study)
The top chart is total2 which represents the market cap for altcoins in the cryptocurrency market on a monthly timeframe. The bottom chart is silver on a 3 month timeframe. We hear a lot of the time how bitcoin is the digital gold and I found it funny to identify a potential comparison for the alts to silver, which is like gold alt. Notice that crypto does move in faster cycles compared to traditional precious metals. I thought It was funny that both are compressing in almost the same sideways range after a major correction for the first initial all time high run. Just thought I'd share this outlook and think it shows a brighter future for both assets once we breakout of this range for the next run. Would love to hear what you think about the comparison.
Best of luck to you and all of your trades this week! 🤜
Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤
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🥇MLT | MAJOR LEAGUE TRADER