SLV trade ideas
SLV Compression, Then what?After this SLV compression, do you think an expansion to the upside will occur? I think so, based on current trends in the bond market. Your thoughts?
SLV break-out seems confirmed, new bull market?Itrust Silvershares went up another 4% today after fears of a global recession hit the economy. Gold is also up. In comparison to the gold-market SLV seemed to neutralize, but now the break-out of the previous pattern seems confirmed.
New channel in Silver becomes more clearI did not immediately appreciate the second overhead resistance (blue line). It starts back in 2015! It represents the last area of resistance to be targeted. I've tried to make the new channel lines thicker in appearance but right now SLV is filling up the gap from yesterday using the resistance line as support. Next target is the second blue line but I think we can all see how this is going to play out!!
Understanding Charts - Part 1To start your trading journey you're going to have to understand charts.
This session looks at types of chart (specifically line and candle charts), different timescales and what the benefit of that is for you the trader
Time for a pirate adventure! (Part 2)Looks like we have navigated through some treacherous waters. Onward to the treasure!
Has the ascending channel for SLV finally been set?Todays action in Silver (SLV) was nothing short of earth-shattering. Several overhead resistances were smashed and this paves the way for some very bullish action for the shiny metal. The large ascending channel has now finally come into view with this move I hope everyone allocates as appropriate! I would recommend SLV for long-term holds as this ETF decays less over time.
SLV Clouds Rain WealthA Silver Opportunity Upon Us
-Money printing in one form or another initiated around the bottom of the 2008 stock and RE market collapse
-Silver, gold, and bitcoin printing couldn’t keep pace…because they don’t work like that
-If you were in almost all USD at the time (like me), you didn’t get your slice of the free money pie and your retirement account took a massive haircut that hasn’t recovered on an inflation adjusted basis
-Fed balance sheet tapering was a 20y plan to run off the QE purchases. It didn’t work and barely reduced the balance. It stopped last week alongside the Fed Funds rate cut.
-The stock market priced in .50 bps rate cut; Powell only gave it .25 and it’s throwing a fit. Expect more to follow and sooner than planned.
-Several MSM financial publications came out this morning highlighting not only the need to make near-worthless money cheaper, but another round of QE as well. POTUS is calling for it. Gold bugs are being installed at the Fed. The rest of the developed world is already at zero or negative rates.
-This is an inflationary freight train heading your way. The socioeconomic ladder will consist of those that dodged it and those who didn’t. This doesn’t even require trading. Establish a portfolio of cash/silver/gold/bitcoin (if you agree, that is…this isn’t financial advice) at 25% each (just a baseline – balance in accordance with your research and projection) and re-balance quarterly for the next three years.
Silver extremely bullish!It just touched the moving average and launched like a rocket.
Huge volume too.
Possible Cup and Handle continuation pattern printing for SLVPossible Cup and Handle continuation pattern printing for SLV. More pronounced and confirmed on XAGUSD. We'll see if it plays out especially with Fed speak later today.
Silver stopped to take a breath This silver ETF had an awesome couple of weeks.
The chart seems to show that it needs to take some air before continuing the race.
Mid-long term, it seems to be a clear buy.
Time for a pirate adventure!Ever dream of being part of a swashbuckling pirate adventure in the search for the 'X' on the map? I have an inkling that this year marks the day where we could get lucky. I've marked the initial 'X' on this map but there could be much greater treasures to find for the courageous. Look to the traditional treasures this year, silver, gold, miner's and a fortune might be found. Trade safe.
(On a technical note, observe silver's explosion in volume and RSI strength. It appears to be at least a weekly candle degree move to this pirate, possibly even monthly).
Throwback and ignitionI expect this to happen.
Would be textbook behavior.
It might go higher before executing the throwback, but probably not much.
SLV WAIT FOR CONFIRM SHORT OR LONG POSSIBLESLV false breakout or sideways pattern possibility, wait 2 days. This could be a false breakout, making a SHORT possible in the next 2 days, based on the Intermediate Resistance turned Support level at 15.20(BLUE), based on 4 hits. Otherwise it indicates a LONG toward the next resistance level at 15.90(YELLOW), based on a sideways pattern occurring from Feb `18 to Jun `18 until it broke out. In the case of SHORT watch for Support level 14.80(ORANGE) based on 3 previous hits, and a lower return back to the 1-year major trend-line (WHITE). Shorting possibly all the way down to 14.05.
Long-term SLV breakoutI've only just noticed this because I'm an idiot, but Silver broke out above a long-term overhead resistance! Of course it is getting a little over extended and a healthy correction is needed, but the subtext of this breakout means a lot for the long-term direction of this precious metal.
Still inOMG. Silver is on fire.
Volumen confirming.
If this continues tomorrow, 15.10 is gonna become support.
