RaSantana

RaSantana

After breaking out downwards out of an upward wedge pattern, gold is now at the bottom area of the parallel uptrend. A retracement of between 38% and 50% has been achieved, and I expect gold to move up from here. An initial target of 1267 could reasonably be expected on this next leg up! Disclaimer: This is not trade advise! No liability will be accepted for your...

RaSantana

Waiting for silver to break the $15 resistance area.

RaSantana

The wedge is one of the most bullish of all patterns, and this silver wedge is a beauty! After the breakout on the daily chart at $14.20, the price of silver is coiling like a spring: Up and down, up & down, up & down, up & down, (get the picture?) until it will SPRUNGGGGGGGGGGGGGGGGGGGGG!!!!!!! and the coil will unleash (uncoil) catapulting the price...

RaSantana

The gap has been truly filled and then some. If there is more upside to be made, then this looks like the spot to enter a buy.

RaSantana

Whether or not silver is also forming a right shoulder of a head & shoulder pattern, or whether it is forming a pennant type pattern is really immaterial, because looking at the bigger picture it can be seen that we are at the lower end of a huge parallel uptrend. The red line NL represents the neckline of the H & S and once that is broken it would represent a...

RaSantana

I'm following a less precipitous uptrend now, where the green arrows show my entry points and the red arrow shows my exit point. The second green arrow shows where my latest entry point is close to the bottom of the new uptrend. Stop loss should be placed below the bottom trend line, and incrementally moved up as the price moves up in order to protect profits...

RaSantana

After breaking out of the bullish wedge pattern, silver has formed a solid uptrend. Once it breaks $15, we're off to the races!

RaSantana

I'm sticking with the uptrend until I'm not, or until the bottom trendline is broken.

RaSantana Updated 

The Relative Strength Index (RSI) is on the blue support line, causing me to see on the daily chart what appears to be an uptrend in the making. It always seems to be darkest before the dawn, and I'm looking forward to seeing the break of day!

RaSantana

The confluence of the long term trend line with the support (blue line) has given me an 'ah-ha' moment on this monthly chart! If this is indeed the bottom in silver, we may never see it at these prices again. The start of an exciting bull market could be already begun! Wishing you all the success that profitable trading can bring! :)

RaSantana

Divergence between Relative Strength Index (RSI)& daily Gold price, could signal an upside breakout of the bullish wedge pattern.