Elliot Wave Theory Suggests a Pullback Will HappenI know the election and FOMC trumps technical analysis but I wanted to put this chart out. Please critique the chart and let me know what you think
SLV trade ideas
SLV eyes on $29.48: first/best of 3 possible supports for longsThis is in conjunction with my big picture Silver chart (click).
SLV has had a significant pullback that may be done.
Ended last week dancing on a pretty serious support.
Ideally this is bottom, or should at least bounce a bit.
$ 29.37 - 29.48 is the immediate and best support
$ 28.83 - 28.89 is the next and moderate support.
$ 28.37 - 28.40 should be strong and is CRITICAL.
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SILVER LONGAccumulating calls as long as we are under 30.25. $32 Target, on the macro it looks like we are hunting $37 area at some point.
SLV - Finally Catching Up With GoldPrecious metals continue to rocket higher and even as Central Banks around the world flock to gold and lighten up on US Dollar exposure, lagging far behind is silver that is still quite a ways from its all time high close to 50. Reverse head and shoulders formations show some possible targets in the 34-35 area but my best speculative bet is that SLV will hit its previous high, perhaps forming a mega cup and handle formation. For many silver enthusiasts, prices reaching $100-200 seems quite plausible. While it's always best to acquire the physical metal, as the ETFs erode value over time due to management fees, Silver is still cheap in my book. With the gold/silver ratio around 80 and falling, I expect silver to outperform gold going forward.
"SILVER" COULD BE THE NEXT GOLD!!!Hello everyone, I hope you are all doing well. Previously, I had shared my analysis on the price rise of gold. In case you missed it, I would like to share some new opportunities with you. The chart indicates a very bullish trend with 1 leg, 2 legs, and a positive RSI and MACD in monthly and yearly time frames. Silver is about to explode in price, with the first target being $40, which is a 60% increase. The next targets are $60 and $70. I will keep you updated on this in the future. Thank you for your attention. (This is a midterm analysis 6 months to 1.5 years)
TVC:SILVER MCX:SILVER1! CAPITALCOM:SILVER FX:XAGUSD OANDA:XAGUSD FOREXCOM:XAGUSD
Caution: Before executing a trade, consider the risk/reward ratio and
implement proper risk management techniques based on your total
investment amount.
Disclaimer: This information or service is for informational purposes
only and is not intended to be personal financial advice
Are you watching Silver?AMEX:SLV bullish chart.
OBV holding at highs.
Couple days consolidation in this area and above $28.50 ish gives this a better look.
#sliver should be on your radar.
Is Silver in the middle of a extended Wave (5)?What Is a Wave 5 Extension?
When both Wave 1 and Wave 3 have moved in a fairly standard fashion, traders often expect Wave 5 to be where we see the extension. Wave 5 extensions in commodities occur when the final leg of a price movement stretches out longer than anticipated. These tend to happen because momentum lags, but optimism still remains high, particularly among retail traders who are often late to the party.
The current graph of Silver is a perfect Elliott Wave impulse, that will be used in the history books.
Are we correct in predicting that there is a high change that Wave 5 extends? That it could be between 100% up to162% of Wave 1, projected from Wave 4.
Will Silver go to 34.32 - 42.54 before the end of the year?
SLV , 100% retracement done and now 1.618 coming Silver has good fundamentals and technicals , it's a good hedge as well
Long SLV - 30 Minute Propulsion Dots w/ SqeezePropulsion dots (in pink) forming below the candles on SLV, with a 30 minute squeeze waiting to fire long. Look for the momentum histogram bars to turn up for an early indication on price movement upwards.
SLV Siver - Bullish Trend Shift Finally?Hello everyone! As always I hope you're all having a great start to your week. Update on Silver in 5 minutes or less:
Pattern is very similar to BTC where we've been seeing a series of LOWER HIGHs followed by LOWER LOWs, however there's a possibility that we're seeing the beginning of a trend change.
We're not out of the woods. We really need to take out the prior lower high that was followed by a lower low to increase confidence that silver is finally making a move back to ATH. That level is at $28.91. The critical support to keep is currently that pivot we saw on August 27th around $27.50.
Nothing is guaranteed in the markets, but probability of the next move being ATH is a move above $28.91 (lets call it $29), and probability that we may be seeing a move back to make a new lower low would be a break of that $27.50 level on a weekly timeframe.
Things look optimistic right now, but watch Gold and see what it does. There may be some rotation that has already start with SLV having a +10% week last week.
Have a great day everyone and thanks for reading!
slvMy Silver Art #slv AMEX:SLV A possible outcome for next big move for silver as she continues to coil with a 106-reaction zone is marked. #investor #stockmarket #technicalanalysis #trader slv
SLV Roadmap August 2024Silver is likely in a multi-year bull with much higher levels to come. Correction are very deep and volatile though
Silver is about to blast off for 3 weeks! (OPTIONS PLAY INSIDE) Livermore Accumulation Pattern is playing out, low is tomorrow till Wednesday, high will be July expiration to possibly end of July. Please check out my previous threads on AMEX:SILJ and NASDAQ:QQQ to see a repeating fractal that the market has been on since COVID.
Right now buy calls for $35 for July for $1-$2 and you're return will be 50-75-156x returns!!
NFA ;-)
Then there will be a plummet in silver, and it'll ride back up to tag $50 before EOY.
SLV - Iron Condor StrategyAfter a big move up, Silver may enter into a long consolidation phase. The Standard Deviation chart indicates volatility continuing to fall being that the Bollinger bands will be moving in towards the moving average. As such, i'm putting in Iron Condor strategy anticipating that SLV prices will remain within the 25-30 range through the rest of the year.
Opening (IRA): SLV July 26th 25 Monied Covered Call... for a 24.26 debit.
Comments: High IV here at 36.4%. Using the July 26th weekly here for the setup, since this is one of those options highly liquid underlyings with both liquid monthlies and weeklies, and I like to attempt to keep things in that 45 DTE wheelhouse if I can.
Because of the size of this underlying, I'm looking to ladder out if we get continued weakness, but am fine with taking my Happy Meal profits and move on if that happens.
Here, I like the metrics of the monied covered call relative to a similarly delta'd short put, so sold a -75 delta call against a one lot to emulate a 25 delta short put's metrics, but have the built-in defense of the short call.
Metrics:
Buying Power Effect/Break Even: 24.26
Max Profit: .74 ($74)
ROC at Max: 3.05%
50% Max: .37 ($37)
ROC at 50% Max: 1.53%
Bull Call Silver ETF (SLV) Nov 29/33Bull Call SLV 29/33. with Retrun/Risk of 2.84
Buy 15 Nov'24 Call 29
Sell 15 Nov'24. Call 33
Cost around $1.03, with maximum return of $4
SLV back to 29$This one is quite straightforward, good RRR and keeping my stop tight in case we follow through with the double top. Entry during todays open.
Silver is in short term consolidation before breaking $30It doesn't matter what short term paper contracts do, or taking profits - the East is importing gold and silver at a beguiling rate that won't allow for much shenanigans for the metals market. I was however surprised to see the price bounce exactly off the top of the box.
I see silver going down to $24 area, shake out some hands, and rocket up past $30 after options expiration date. I see a smaller consolidation week in May before going even higher.
I HIGHLY recommend Silver Miners right now. They saw some life this week and last - and since they usually lag, I can see them being down for the next two weeks before going up themselves. I like AMEX:SIL , AMEX:SILJ , and NUGT for indices, and NYSE:NEM for the best miner in the world for one simple reason - AMERICA will be the LAST country to nationalize their natural resources in a communistic reaction to the skyrocketing dollar. I expect that to happen starting next year.
SLV to 33.70Sure does appear to be a typical Wave 3 extension formation. 2.618 fib measurement of Wave 1 would put SLV at 33.70
Next leg down to ~$26 on SLV ETFAfter Elliot 12345 up move, we are completing first ABC
Possible down move to 26 in new trend after distribution
$2.63 Mil on Silver?!Silver 5/22/2024 Exp
Silver has been on a surge so far this month, rising 20.54% from the beginning of May. This previous friday an option order totalling $2.63 Mil came in for AMEX:SLV targeting the $28 strike expiring on 5/22. The problem with this order is it is way too enormous for the ticker causing the market makers (dealers) major issues if price continues any higher. The plan for this trade is to hedge (go against) the original trade, taking the ITM $29 Puts for 5/22. The price expectations for AMEX:SLV coming into the 5/22 expiration are $30.13 to the upside and $27.47 to the downside. Liquidity zones will lay at both the expected moves. The $29/28 strike has a huge Call wall forcing the dealers to sell at that price.
silver slv update on AMEX:SLV #slv #silver we are looking at a key 3-month resistance being tested, to continue to the upside. slv
$SLV ETF Inverse Head & Shoulders Pattern & Fibonacci ResistanceAMEX:SLV ETF Inverse Head & Shoulders Pattern & 50% Fibonacci Resistance. Silver will need to consolidate before it can break higher to the blue line.
The Inverse Head & Shoulders (IHS) pattern is a bullish reversal pattern in technical analysis, typically appearing at the end of a downtrend. It is characterized by three distinct lows:
1. **Left Shoulder:** The initial low formed during the downtrend.
2. **Head:** A lower low, signifying a continuation of the downtrend but also a potential reversal point.
3. **Right Shoulder:** Another low, typically higher than the head, indicating weakening downward pressure.
The neckline of the IHS pattern is a resistance level drawn by connecting the highs between the left shoulder and head, and the head and right shoulder. When the price breaks above this neckline, it confirms the pattern and signals a potential reversal to an uptrend.
Traders often use the IHS pattern in conjunction with Fibonacci retracement levels to determine potential price targets. After the neckline breakout, the price is likely to retrace a portion of the initial move up before continuing higher. Common Fibonacci retracement levels used are 38.2%, 50%, and 61.8%.
**Here's how the Inverse Head & Shoulders pattern and Fibonacci resistance work together:**
1. **Identify the IHS Pattern:** Locate the left shoulder, head, right shoulder, and neckline on a price chart.
2. **Confirm the Breakout:** Wait for the price to break decisively above the neckline on increasing volume.
3. **Apply Fibonacci Retracement:** Draw Fibonacci retracement levels from the low of the head to the high of the right shoulder.
4. **Set Price Targets:** Look for potential resistance and profit-taking opportunities at the 38.2%, 50%, and 61.8% retracement levels.
**Key Points:**
* The IHS pattern is a powerful bullish reversal signal.
* Fibonacci retracement levels can help identify potential price targets after the breakout.
* Traders should always combine the IHS pattern with other technical indicators and risk management strategies to improve their trading decisions.
**Disclaimer:** Technical analysis is not a foolproof method for predicting price movements. It's essential to conduct thorough research and consider various factors before making any investment decisions.
