Silver completing massive weekly chart H&S bottomThe current thrust in Silver, with AMEX:SIVR as the proxy, has completed a massive inverted H&S on the weekly chart. It is important for Silver to consolidate these gains without providing the false breakouts this market is famous for.Longby PeterLBrandtPublished 1113
SIVR : Closed the position in partsBooked profits in separate levels. Half of the position was closed in breakeven levels for a mere 0.37% whereas the remaining half was closed at 3.83%. The position didn't move as expected and did crash a bit before moving in the anticipated direction. But there are better opportunities out there as of now. So decided to book profit and re-allocate the capital elsewhere. Will consider a re-entry if the price reverses back to the low of the descending channel. Previous posts related to the same scrip and position are attached underneath. Do check them out.Shortby Sniper-TradersPublished 0
SIVR : Bought for about 5% of the total portfolioFundamentals The Consumer Price Index (CPI) was released in the US on September 13th, 2023, and inflation is on the rise. Year-over-year (y/y) inflation, which had been decreasing month after month for a while and had almost reached 3% in July, has spiked up to 3.2% in August and 3.7% in September. This 3.7% figure is even higher than the forecasted value of 3.6%. As a result, there is a higher probability that the Federal Reserve (FED) might increase the interest rate even further in the upcoming Federal Open Market Committee (FOMC) meeting scheduled for September 20th, 2023. I anticipate a rate hike of either 25 or 50 basis points, which would bring the Federal Funds Rate to either 5.75% or 6%, respectively. This potential rate hike might lead to a crash in the overall stock market, and commodities, especially gold and silver, can be used as a hedge to protect the portfolio if this scenario materializes. Technicals From a technical standpoint, both gold and silver are currently at buying levels. However, when considering the potential upward move from a percentage point of view, silver appears to be a better alternative to gold. Conclusion Consequently, I have taken a position in a silver ETF, allocating 5% of my total capital. This is double the maximum I typically allocate for a single security. However, I have strong confidence in silver as a long-term investment, and I may consider adding more if its price further declines and reaches the next key buying levels. I have attached posts regarding my previous trade in SIVR for your reference. Feel free to check them out as well.Longby Sniper-TradersPublished 0
SIVR : It's time to start accumulatingAlthough I do expect a dip of over 5%, before a rally, I'm still ready to take that risk. There is a high probability for a crash in US equity market anytime and if that happens, commodities, especially gold and silver, should be there in the portfolio to act as a hedge. I'm not a big fan of gold and I consider it as an overhyped element when compared to silver because silver has much better use cases for future. Silver also moves better than gold in terms of percentage gain and so I prefer silver over gold. The crash in silver was already expected and I had posted it publicly. That post is attached along with this post and do check that out. So I'm taking a position and the entry levels are mentioned in the chart as well as underneath this post. I'll update when I make any alternations to the position or add on to it. By the way there are 2 major silver ETFs listed in US market. SIVR and SLV. SIVR is Right for You if: You are a long term and cost conscious investor seeking to hold onto a silver ETF for an extended period of time. SIVR has an expense ratio of 0.3% which is lower to that of SLV. SLV is Right for You if: You are an active trader seeking to either speculate on silver’s movements or quickly execute positions in the precious metal. Although it is the largest and most popular silver ETF, it has a higher expense ratio of about 0.5%.Longby Sniper-TradersUpdated 0
SIVR Flag?if the flag were confirmed it would be a bounce on the right shoulder maximum, failed H&S that has already reached more than 50% of the target, if so the new target could lead to the top of the rectangle, the main figureby dan68608Published 0
$SIVR on Watch List for Silver TradeI like $SIVR over $SLV as it is treated like a stock / ETF and not a limited partnership (LP), which $SLV is a LP (the later is a headache at tax time). Silver has been consolidating in a wide range now for about 11 months as you can see by the shaded area on the chart. It looks to me like it has also established a channel over the last few months and is now near the bottom of that channel. This may be a nice area to look for an entry to ride it back to the top of the channel with a well defined risk. I have not taken this trade. I will wait for it the short term moving averages to point up at which time I'll look for a logical entry. If of course that happens. It could also drop below the channel. If it does that it would be bearish IMO. Ideas, not investing / trading advice. Longby jaxdogUpdated 0
Silver breaks out of rising wedge channel. A repeat? Or upward?We've been here before, though a 4% up day on silver is nice. If we continue up, we may see some FOMO push us up to the fictitious 'squeeze rally'. Or possibly, this was just a counter to crypto's down day. Note here that I trade SIVR because I like the sound of silver residing in London vaults. Makes me sound wealthy. :-) by chillcryptoUpdated 0
SIVR pushes up, nearing resistance againSilver needs to push through this key resistance level for a 'continuation. Or will we drop back down to the bottom of the upward channel. Only silver knows. by chillcryptoPublished 0
Long | SIVRAMEX:SIVR Possible Scenario: LONG Evidence: Price Action This is my idea and could be wrong 100%Longby shksprUpdated 0
Silver and commodities waking from their sleep?I drew a couple of trend lines - but my takeaway is that we have been in a consolidation pattern on silver since September. We recently broke above a downward trend and picked up on a upward trend from earlier this year. This may be an entry point as the risk in equities increases. Its something to watch but I'm not sold on this being the point at which we break out higher. TBD.by chillcryptoPublished 0
Use SIVR wedge break out to hedge against the stock marketHere's a hedge against the market, today SIVR broke symmetrical wedge going back 2 years. If it closes above the wedge that is a confirmation of the break. Especially true if it breaks 16.91 (higher high) and holds that near tomorrows close. If that happens, best time to buy is sometime tomorrow afternoon. If we can't stay above wedge and make higher high, it can be watched. Since the wedge occured after a bearish weekly trend, the wedge is more likely to break downward. I was (pleasantly) surprised this morning when we wicked above the wedge. I would not take a position until it confirms.Longby autemoxUpdated 2
SIVR Buy Cyper and GartleyLooks like SIVR may be hitting a low risk buy point. 1. At the Support line 2. Symmetry of time from low to low. 3. Cypher pattern completing at the 786 4. Gartely pattern completing at the 786 5. Perfect ABCD pattern 6. Oversold on Stoch 7. RSI bottoming outby Wolverine2Published 0