SLV trade ideas
SILVER LONG Interesting level here... DXY looks like it needs to come in finally, would think Silver can start getting a decent rally from here
$SLV Silver Bling Bling Taking forever to ShineLook at it. Its hit the bottom of the arc. I bought hard, but at the same time its going to take 2-3 years to double. So make sure you have a comfy sofa to watch paint dry.
SILVER (SLV) Dragon ?Just another way of looking at a fulcrum (W formation) -
Current move down can go below prior low, or hold above,
either will work with this pattern. Key is to reverse
and break out above the "Back". Initial target is
the "Tail", and with follow through, the Ext. Tail.
Of course, PnF will have its own targets to add
for possible confluence. :o)
Silver/SPX ratio reaches -16% the support level . Silver/SPX will move up , bet Silver up or SPX down ?
SLV price range SLV price will be attractive if it can do to around 15, monthly chart showing 20 is possible if it touches the bottom in the future.
$SLV three possible outcomes, all lead to lower prices?While many people have started to turn bullish on $SLV, stating it's undervalued (which it very well may be), looking at the chart tells a different story. If you zoom out, SLV looks to be correcting still.
I see three possibilities in price action from here, and all lead to lower prices in $SLV.
While there may be a squeeze higher in the short term, I can't really see price getting above the $24 level. If we were to reject there, or below that level, it sets up the stage for a sharp move lower, somewhere into the $13-16 range. I've put key levels of support on the chart on the way down. I see this move taking the next 2-3 years to fully play out, and if it does, that would be a great range to buy for the long term as I'd expect SLV to finally breakout of a 10yr+ bear market afterwards.
Long John SilverShort Term Bounce Back, due to oversold Technicals on Silver possible.
We have divergences on the RSI and EFI (Elders Force Index)
We have found support at the 0.5Fib from Covid Low to High
Silver got decimated in the past weeks, so might be due for a bounce.
No investment advice.
I enter on a green candle based on Elder Impulse, will buy a two times leveraged Silver ETF (because this ETF has the lowest spread for any silver etf on TradeRepublic).
SLV - Silver at supportSilver comes right back to where it broke out in 2010.
The 0 to 5 count could be complete, exactly where the Lower Medianline (L-MLH). is catching price.
Now we don't just jump the gun.
We wait for a signal, a change in behavior.
Put your observation hat on.
Silver Breaking SupportFor a few weeks now I have been watching the key Support of 19.42 on AMEX:SLV which corresponds to 21.00 on Silver Futures COMEX:SI1! :
This is a long term Weekly Timeframe support established by the COVID Low through February 2021 High. I made a video about this High then because around the financial media there was a meme encouraging retail traders to BUY SILVER to create a SHORT SQUEEZE and stick it to the hedge funds (see Video link below)! My video went back through news article history to show that this same meme had been used to dupe Precious Metal Bugs into false breakouts 4 out of the 5 times in the last two decades. Q1 2021 was a good time to piggy back on the "Short Squeeze" meme and resurface this old one in Silver. Well, now the record shows that 5 out of 6 times the "Short Squeeze Silver" meme has failed as Silver continues to trade lower 17 months after the fact. This is why it is important to be highly skeptical of mainstream financial media. Often times (in my conspiracy theory) they are put out by PR departments of the funds themselves to manipulate market sentiment in some firm(s) favor.
With this break of support Silver enters what I call "The Valley of Risk" where holders are faced with unknown losses as Supports become less clear. I am forecasting a fall into the mid-teens over the next few months. I have expressed this thesis in Put Spreads through the end of the year.
SLV - Long bear trap opporutnityPrice is moving up from the 9 month support level. Two bear traps in May and June and now price is breaking out.
Formulate a plan with solid money management. What if it doesn't work out? How will you respond?
Define how much you're willing to bet. Anything can happen (Mark Douglas)
Risk: 180 bps
Profit Protection: 3-Day Trailing Stop Rule (Peter Brandt)
Silver Breakout Long SetupToday a member of my social media pointed out that Silver may be setting up for a long trade. I like the price action on the Daily where Silver instruments (futures and SLV) have broken the 6 month 50% Retracement Resistance at 23 and confirmed the break by holding above it for the last few days. This sets up a breakout trade to retest the recent major highs around 26. I expressed this trade with the instrument SLVO
Bullish BatPossible stop under D or 19.01.
Right now there is a piercing candle which is bullish. Price is trying to close at least half way up inside the prior red candle which is apposite of the Bearish Dark Cloud Cover pattern. This could be an engulfing by close and remains to be seen.
Some would call this harmonic pattern an Alternative Bat as price landed at the 1.113 versus the .886, for now. anyway.
Short term Long.
Any pattern can fail.
No recommendation.
SLV Next move, test of lowsSilver has been relatively tracking the S&P however there is a strong divergence now as money pours to stocks and silver is weak. On the closing basis, SLV failed a three day test of the low and is now destined for a retracement down to test the 3 week test of the low in a week or two. It's good to have some puts in the bank as this could get really ugly. Another Fed rate hike will hurt silver. But I see it at the end of the year at $32 with S&P at 3200
$SLV Elliott Wave BeginnerStill sticking with my original EW counting.
Not sure if the corrective waves is done yet.
It can possibly go down to 15 before it hits TP1 because silver and gold tends to dramatically decrease during recession.
Still in the long run $SLV might have a lot of potential to go higher than ath.
4 reasons why I’m buying $SLV:(Elliott Wave Beginner)
1. 5 impulse waves completed (2020)
2. Supporting 0.618 ($20) for over 1 year
3. Volume increased over the past 2 years
4. The massive support volume below $16
TP: $43
SL: $15
$SLV Silver Long$SLV dipping into the most historically significant area of supply/demand; trading below this area represents a break in market structure. Further, I'm macro bullish on commodities as I anticipate a hard landing from the Fed. $SLV worth a bid at these levels.
LONG SLV more upside potential than GLDGLD and SLV tend to do well during these chaotic times, with inflation sky-high, Russian attacks, and crypto still at an early stage. At the moment, I believe investing in GLD and SLV is a hedge against risk and has potential upside growth until inflation drops.
Since the Easter holiday, SLV has broken the downtrend line and found a bottom around $22.37. It's shooting for the March high (where the resistance is around 24.50)
SLVScratch the bullish chart lol. Looking like it could Bart Simpson below $20.50. Bearish below YTD VWAP (purple line)
SLV Bullish Gartley SetupThoughts on this possible SLV bullish gartley setup? A pullback to the 14.52 area could trigger the pattern sometime in early November.
SLV _BewareNot yet breaking out. Downward trend still intact. Bought a bunch of cheap October puts just in case. PM rallies hardly ever last.
