This is the fuel for gold and silver, which usually top when this flat lines. I have a daily gap to fill at 18.2... who thinks we get there?
Cool new tool I found out... fixed range volume profiling! Now I can get specific volume profiling to see what was happening more closely, while still keeping my large view on! Silver has strongly retracted to it's 30 week sma and it's rate of change. Really close to a bounce up...
With Renko exotic chart, I identified 2 important pivot lines, which serve as price action magnets. Also a short term "wall" (previous support turned resistance). It's a fight of inflation rate vs nominal rates, both ultra low, but which one will remain lower is the question!
#Silver is currently at OR approaching a LOW risk, HIGH reward proposition, seen only TWICE before in 50 years! Crazy timing new #robinhoodtraders are falling into... sadly, most will not be able to ride most of it, only to look in rear view mirror in 7-8 years, having missed it. Too leveraged... no emotional stamina... no research done. You need to believe the...
You can use exotic Renko chart to see what indicators would like when "time reduced". Looks a good place to see silver ramp up price action, as indicators similar to previous setup, close to 532 period moving average.
If you are a fiat currency that's 100% away (USD) or 50% away (CAD) or already above (TRY) your all-time highs... you'll consolidate and move up. Rinse and repeat, until the next "Paul Volker" Paradigm shift moment.
We could be getting an open interest confirmation of a silver bottom ABOVE an inclining 1 year simple moving average! Very bullish jumping platform. Which I didn't see ever happening before.
The other mythical creature, know as the "golden whale"! Some have live to see it a few times, but must never! What I sight to behold, one could imagine! Check out % moves when COT's open interest hits a previously know pivot line and above it's 52 week moving average.
Gold took 3 quarters to breach it's all-time quarterly defined highs, after it confirmed a bullish cross over of TSI wires. Now silver has had it's bullish TSI cross, countdown for +37$ quarterly close should arrive soon!
It's happening guys! The inflation cycle has awoken. Quarterly charts showing HUGE underlying moves being baked into existence. TSI and moving averages turning up giving us hope...
Just look at this incredible bullish setup for Silver. Quarterly defined tidal wave of upwards movement has JUST started. Look at the TSI fast wire just crossing above zero. WOW! #gold #silver $slv $gld #fintwit $sil $silj $gdx $gdxj
Using gold vs silver ratio and a simple moving average, Japanese candles and MACD to demonstrate the relationship between time frames, and how to understand the shifts in trends. See the ripples of smaller time frames confront counter waves on higher time frames, which can eventually decide the battlefield winner!
Gold vs silver ratio heading back downwards. Silver will react positively. $vix is also deflating, as $dxy (similar charts in structure. Looking for a continuation move to 72.50.
A move towards 21$ for silver would definitely washout pretty much all bullish sentiment. Still higher lows on the higher time frames.
I use gold's future's contango (premium) over spot to get a sense of extremes and bottoms. When nobody wants gold (low premiums), bottom could be setting in place. I do want to see a turn around before calling a bottom.
Okay, 24 month moving average of gold's volume tells the underlying pressures. You can reset sentiment with decreasing volume... but too much reset and you hibernate. Approaching go time for next CRITICAL decision point! Which one do you think will happen?
Point and figure chart showing some follow through with inflation expectations. Still a high volume defined congestion area above.
Now, what about today? Silver had a detour via March Madness breakdown, currently back on track after going somewhat... parabolic! So, hard landing on still inclining 6 month moving average in progress... monthly close is key.