SLV silver trustLeaning bullish but need to see more wave completion to turn bullish longterm. Also watching for the bearish scenario if it breaks below ~21.7 then possible setup for ~18 range
SLV trade ideas
SLV Making a Move HigherGoing long silver with SLV as it looks to re-test $25 soon.
Not trading advice, do your own diligence.
Happy hunting.
Stimulus News to determine DXY and SLVSLV tried to break the bullish trend and 0.382 Retracement but quickly recovered (no Full bear candle below trend & Retracement). would suggest going into Jan 2021 calls with stop loss at $20. stimulus news remain the main determinant of trend direction. Watch DXY. still learning. let me know your opinions.
Silver seasonality analysis that could helpPlease refer to the following link for a great seasonality analysis from Kitco:
www.kitco.com
If history tells us anything, Silver seasonality shows that October will normally see a bounce up in silver even though it could be short lived . Then from October peak through early December it is normally a down trend. Mid December through February will a good bullish period for Silver, so is end of June through mid September that is the second bullish phase for silver.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
SLV from ADX view -- 30 min chartADX line crossed down 40, an indication of trend finished.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
SLV GapsAMEX:SLV As SLV works it way through its levels the best support and resistance could be a Fibonacci. It is important to note that throughout the summer as SLV had approached these levels leading up to the swing high it gapped up above all the levels except .382. I'm unsure why it has seen so many large jumps in price but it could be forming a double bottom at 20.51 and move back up next week to chase fills on some of these untouched areas.
silver ready to pop or drop on 30 min chartSure looks like it is going to pop to me. High possibility for a pop here.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
OPENING (IRA): SLV NOVEMBER 6TH 19 SHORT PUT... for a .37/contract credit.
Notes: Now that I look at it, the weeklies are super liquid. With 30-day at 47.8%, selling the strike nearest the 16 delta/45 days until expiry. That .37 ($37) doesn't seem like much, but as a function of notional risk, it's 1.99% ROC at max/17.3% annualized as a function of notional risk.
Full position is the November 6th 19P, November 20th 21P, November 20th 18P.
Break Even: 18.63
OPENING (IRA): SLV NOVEMBER 20TH 18 SHORT PUT... for a .46/contract credit.
Notes: 30-day at 52% with expiry-specific implied at 55.4%. Adding to my SLV (See Post Below) to establish a precious metals position in my IRA that is more scalable than GLD. I'd ordinarily ladder out here, but there's no December monthly.
Break even: 17.54.
SLV - one possible wave countDear EW experts, please chime in with your insights for our members here. The count since the July take-off seems reasonable to me as one scenario. Appreciate everyone's feedback/insights.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Silver Trust SLV updateHit my target for this correction. Expecting ~20 right now. More bullish above ~22.85
silver at critical level 61.8 FB retracement level. if this level hold it would be the completion of the wave 2 since the take-off.
SLV support at 20.96 (61.8% of the FB retracement, wave 2 correction normally would end at around 60% retracement)
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
This represents a serious breakdown for silver (SLV)As I expect many others have commented on, this breakdown from the consolidating triangle bodes ill and represents the correction and reversion to mean I've been expecting in precious metals. I am still very bullish long-term but please watch the cup and handle pattern in gold to ensure it sticks, otherwise something more serious is afoot. What worry's me also is the shortness of the tail so I definitely expect this to fall further!
$SLV - Pennant on Daily Resolved Bearish ! Headed Much Lower !As we can see from the above daily chart of the Silver ETF, the nail biting pennant that has formed over the past few weeks and kept us all on the edge of our seat - along with GLD - has resolved bearish with todays move. Target is $18 - $19.
SLV - Coiling BreakdownIt looks like SLV broke down and closed below the 50 day MA. This is exactly why you always wait for confirmation. I think this could setup a really good buying opportunity in the near future but we will need to wait and see where the price action takes us.
Good Luck!
SLV - Correction ScenarioBasic assumption is that we are in correction phase with higher prices to come. Will be watching premiums on physicals. If those retreat any, I'll add.
SLV - Positioning for next leg up!SLV looks like it is just about done consolidating its big move up. Still way behind and playing catch up with GLD. GLS/SLV ratio is still high relative to historical norms during metals bull markets. Breakout coming....should be upside! Wait for it!
SLV - CoilingSilver is coiling and I think we will see a very nice risk reward of about 3:1 here very soon. The MACD is gaining some good momentum in positive territory and the RSI is in a good entry point range. The 50 Day MA is coming up right to the price point and I expect it to hold as support as we've seen across the market (so far). This entire setup relys on confirmation and a retest of the upper trend line. Everything could go either way right now.
Hi Ho Silver, we go like this till we go up!As you can see on the tremendous chart, silver will go and do things before it goes on a tremendous rocket ride.
Some little gap resitances and supports being seen on the different time frames.
Overall bigger picture is a symmetrical triangle which should resolve bullishly based on the SLV/GLD ratio chart.
In the shorter term we may follow roughly follow the yellow line into some of the gap candle resistances on different time frames.
Upper spot which the yellow path I've drawn hits comes into a moving average at the same time, then back down into our triangle before we resolve to a grind upwards out of September before final rocket up.
I haven't posted the SLV/GLD ratio, but I guess I should to show that the timeframes are in alignment for the bull run.
SLV OBV divergence still distributing it looks like, on the 30 min chart.
Disclaimer, this is only for entertainment purpose and doesn't serve by any means as a buy or sell recommendation.
