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SLV trade ideas
SLV looking goodWaiting for a top in micro for buying opportunity. Looks good to get above previous highs on this move
SLV - Patiently waitingSilver has not taken out last week's high despite a spirited rally today. I lightened up some on SLV last week anticipating a three week test of the low. With quad-witching on Friday, could be lots of volatility even extending to metals. Dollar continues to be super weak.
Could be wrong and SLV can continue to move higher but I play the patterns that I know and will patiently wait to see how we are going to close on Friday. Holding at or above 21.05 would be an intermediate-term entry point and onward to the 30s.
Last year, I had been anticipating a double bottom formation with prices taking out a top just below 20. Theory says that after breaking through that top (occurring around Aug 2016), prices would come back down to test that breakout point and move much higher. The March madness in the markets caused silver to make new lows. But ignoring the March craziness, I'm am sticking with that philosophy that we did make a double bottom, have come back to test and will then move to higher prices.
That being said, previous posts showed that I had expected still lower prices and they still might occur, actually testing that breakout level around 20. But as the Stochastic indicator is now heading upward, momentum is shifting. If we wind up closing below the 21 level on Friday, a little more patience will be in order. But I think we are close. This weekly setup is important to keep an eye on and if successful, is worth placing your bets on it.
$SLV forming nice bull pennant on weekly$SLV looks primed to break out if it can hold the VWAP anchored off the March lows. Nearing the pennant convergence, declining volume, and clearly formed pennant. I entered some long June 2021 $21 calls today. Will add more if it breaks out of the pennant as I anticipate that it will.
$SLV X Marks the SpotLooking for $SLV to retrace to $21.79, at the confluence of .5 wave 1 and the upper edge of the consolidation triangle it recently broke out of. It it hits this week, I'll be entering some long calls.
SLV to 30 by Mar?Doesn't it look like a nice huge pennant?
We might see SLV @ 30 by Mar.
In any case I would be very cautious about this one as there are many additional inputs to be taken into account before trading this just on the basis of this pattern.
SLV buying opportunitySLV kept is previous low and hit .764 off first wave. think it has good potential
SLV Long PossibilitySLV in a rising wedge on the weekly. Strong bullish signal.
Markets are pretty uncertain , precious metals might be the safe haven conservative investors want to ride out.
I'd like to see it cross my key level before I decide to enter or not.
What do you all think?
When is a good time to buy silver? #SLV Confirmation?Looking at silver over 2021 we have a couple trend lines that have been holding up as support and we are currently looking at retesting one just before we enter what i would consider a buy zone.
The bold trend line coming down has been tested twice and we are forming a symmetrical triangle.
As we see upward pressure from the 2 longer term support trends, we will be testing it again in the 22.42 area.
Id like to see price action above 22.34 and back above the trend line that is acting as resistance currently.
A precursor to this could be pressure from the lowermost upward trend as we move into the downward trend again.
Silver not out of the flag. Good opportunity above 24Silver not out of the flag. Good opportunity above 24
SLV bounceLONG dated 12/31 calls for SLV entered. Near Oversold territory, with money printer keep going BRRRRRR, I expect a big bounce coming soon.
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just what i think betting on small dollar dump next few weeksslv has similar patterns throughout price history
SLV bearishExpecting ~$20 to ~$18 right now as my original target awhile back. More bullish over ~23 and ~24
Silver $SLV offering a 10 percent ROI with some Patience: YAWN?$SLV makes a nice long, on silver futures. The gain is not tremendous, but it seems "safe" (A word I loathe using, but will).
With Au trending up, Ag should match it after it finishes this bottom out -- It's down 0.5% pre-market and may fall a full percentage point, at which entrance can be considered.
This won't knock the socks off a thing - but who flicks boogers at actual gains? Not this trader.
LUCK, BS, and whatever else,
BDR
Short SLVIt looks like a distribution, after the Monday rally we see it got sold hard and I don't think is going up anytime soon.
