SLV trade ideas
SLV gap filled today. Resistance levels to followWe are at 25.05 close today, just shy of yesterdays close. After gap fill we had minor pullback and return to near hod indicating bears could not follow through.
Now just need confirmed breakout above $25.17 before next res level of 27.75
Then the following res leveled to ATH
28.83 / 30 / 31.40 / 32.55 / 34 / 36 / 38.20 / 42 / 48.35 ATH
(some of the res levels are stronger than others, a couple are fairly major. )
SLV LevelsSLV Levels: SLV is breaking ATM anchored VWAP.
This is not financial advice. Just sharing my levels.
The Precious Metals Rally Continues - LOAD THE BOATSLV, /GC and other precious metals are rallying hard while DXY continues to sink off of the back of central bank easing. No Reason at this point not to join the party. There were a few people at the beginning of this predicting a new precious metals super cycle, and while I'm not sure something to that degree will happen (Look at /GC around 1998-2006), I think we still have a TON of room to move from here, especially looking at the commitment of traders reports. This train doesn't have any reason to stop moving.
SILVER IS SOARING - SLVSLV has been on a tear since the March lows, rallying over 80% and it's still going. Eventually we'll see a breather as volume begins to decrease and bulls take some profits, but at the moment the bullish trend is still going strong. If you're looking to play this one, I would wait for any dips you can get, buy in, tight stop loss (around 2%), and let it ride. Secure profits as you can and don't get greedy. Remember the trend is your friend until proven otherwise.
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SLV - $25.13 in play!SLV is now trading in the gap breakdown area from April 11/12 of 2013. I have $25.13 as a target from which a long needed break should occur. SLV, GLD and miners having a monster day.
OPENING: SLV SEPTEMBER 18TH 19.5/30.5 SHORT STRANGLE... for a 1.08/contract credit.
Notes: High rank/implied at 57/71. Selling the 19's ... . Will look to take profit at 50% max, manage on side approaching worthless or break even test.
Silver jumps and then it will dump before it jumps againSilver jumps and then it will dump before it jumps again.
Look at the Gaps at 20 and 19 those will be filled we moved to far to fast and the Algorithms will fall back to those prices. A cat must crouch be fore it jumps and silver must do the same.
We should see silver at an all time high this year so get in before we hit $47 back in 2011.
SLV Vs GLDSLV showing a breakout in terms of relative strength to gold. $DXY breaking down further would send both higher, silver .... to the mooon $GDX $SILJ $PSLV
Possible parabolic bullish chart pattern for $SLV (WEEKLY CHART)Supply and demand trading strategy for $SLV (NOTE: this is a WEEKLY CHART).
It might be a time to be aware of potentially parabolic bullish chart patterns for $SLV. The first potential entry once it closes above $24.06 . The reward vs risk improves on the pullbacks.
Between 2010 and 2011, $SLV went parabolic from $24.06 to $48.35 in less than 200 trading days. GOOD LUCK
SLV April 2013 Gap yet to be filledNearing a gap which failed to fill in 2013, therefore resistance at 23.84, with next resistance to follow is $25.17
Long Term Strategy for SilverSilver has clearly broken out from its bearish cycle indicated by the white down trend line. Based on the last bull run we should reach the 2.618 in about 770bars or approximately 2 years. In the short term, I expect a retrace to the .236 fib over the next few months making October a good time to enter the market at around $18-$19. Furthermore, Rsi and Macd seem to be reversing, so it's possible the short term retrace has already begun. Set the date and check this post and the price of $SLV around Oct-Nov for a good entry point. Good luck and remember to hit the like/follow button if you agree with this idea!
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
SLV - Rally to Continue?Last year when looking at the possible double bottom scenario, an imagined breakout looked something like what we have just seen, especially in the cash trade where prices rallied to a serious resistance level.
The Double Bottom scenario assumed that we would break through resistance and then back down to test the break out level. Support here, at just underneath 20, would then be the launching pad to prices that I expect would test the highs. Just look at gold. Silver is catching up and should monetary conditions continue as they are, hard assets of all types will certainly continue to move higher until such a time that the dollar is wiped from the face of the Earth.
The worst case scenario is that over the long term, we had merely corrected to the .328 fib level and precious metals become again the worthless relic of the past. Don't think so, especially as the virus threats continue and precious metals supply continues to be endangered.
In any event, as mentioned before, wave 5s can be stunning! This is wave 5. As with all five wave impulsive moves, an A-B-C correction usually follows. Make sure you have some cash on hand to add on as additional waves higher are sure to follow.
SLV potential zone?Honestly just drew what ever the Ouija board showed me and this is what popped up.
Kinda wanna see if it pops up into that zone. Or maybe the dollar will pull a sneaky and rekt my position. who knows *Shrug* I don't, maybe J pow does, but I don't.
SLV - possible new targets!SLV cleared my 22.23 target on a gap up open, the third in a week or so. I have set two additional targets that may be achieved if the metals trade can continue higher before a much needed consolidation phase. Next two targets are $23.62 and $25.17, the latter marking what I would call the control line for the stock. Watching closely and have reduced most exposure in mining stocks and a big part of my SLV and GLD holdings to be prudent.
