Silver: Up or Down is a matter of perspective
Often times traders want to know if an instrument's price is going up or down. It's an expectation of some sort of prediction.
The problem is that price could be going down on one time frame but up on another. How is that possible? It's just a matter of perspective. You could see price move down on a 1 minute time frame but that's not so important. Really - traders are look for a trend.
The question could be 'Where is the trend of silver heading?' But even that is not specific enough. The better specific question is, "On X time frame, where is the trend of silver heading?"
Now on a 3 minute time frame the trend may be heading south. Now take a look at the 8hour time frame on this chart. Obviously anybody can see that the trend is heading north. At the most recent edge of price, is an 8H channel.
Concluding:
1. Where price is heading depends on your time frame.
2. Investors will be interested in larger time frames.
3. Gamblers will be interested in small time frames.
4. Trend is more important that price point.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
The problem is that price could be going down on one time frame but up on another. How is that possible? It's just a matter of perspective. You could see price move down on a 1 minute time frame but that's not so important. Really - traders are look for a trend.
The question could be 'Where is the trend of silver heading?' But even that is not specific enough. The better specific question is, "On X time frame, where is the trend of silver heading?"
Now on a 3 minute time frame the trend may be heading south. Now take a look at the 8hour time frame on this chart. Obviously anybody can see that the trend is heading north. At the most recent edge of price, is an 8H channel.
Concluding:
1. Where price is heading depends on your time frame.
2. Investors will be interested in larger time frames.
3. Gamblers will be interested in small time frames.
4. Trend is more important that price point.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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