$PL1! Platinum Futures. Looking for a new positionWill be looking for some strength to open a long position. If expected strength does not materialise, then this trade is off. Watching.
Preciousmetals
$GLD Newgold ETF Bull flag breakNewgold target is 290, although from experience I know that precious metals rips can be vicious and overextend targets by considerable margins at times.
Wheaton Precious Metals (NYSE: $WPM) Could 👀 Multi-Year UptrendWheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.
Bull Flag Gold Monthly ChartA very rare opportunity to take a great trade in Gold on the monthly chart.
Bull flag patterns are my favourite and usually lead to a second leg higher.
Silver Double Bottom Monthly ChartWith Gold breaking out of a monthly triangle, silver usually follows.
With a stop loss below 20, we could see a potential 3-1 return opportunity if not more.
Palladium: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Palladium.
The chart is self-explanatory. Palladium Price has been moving up a Rising Channel recently but the overall trend looks like a Bearish Divergence. Since the RSI was recently supported by a support line, the price has the chance to keep moving higher, however if the price breaks down from the Rising channel, it may come down to the 0.618 Fibonacci Retracement level where the measured move is as well as that area being a strong Support and Resistance zone. If price moves up from the rising channel, expect it to be met with resistance at the multi-year resistance line.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Silvercorp Metals (NYSE: $SVM) Looking LikSilvercorp Metals Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China and Mexico. The company primarily explores for silver, gold, lead, and zinc metals. Its flagship property is the Ying silver-lead- zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd. and changed its name to Silvercorp Metals Inc. in May 2005. Silvercorp Metals Inc. is headquartered in Vancouver, Canada.
Platinum: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Platinum.
The chart is self-explanatory. Platinum price made multiple attempts to get back above the 0.618 Fibonacci Retracement level but was rejected and now headed back down. Platinum price may be supported by the Multi-month support line. If it fails there then expect price to head to the 0.382 Fibonacci Retracement area. RSI just broke below a multi-month S/R line, which is not a good sign.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Silver: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Silver.
The chart is self-explanatory. Silver price has been climbing up the local support trend line. RSI is about to reach the overbought area. Silver price has potential to drop. It may be supported by the 0.236 Fibonacci Retracement level as well as the strong support zone if price keeps falling. If Silver price moves upwards, keep an eye on the 0.50 Fibonacci Retracement level where there is strong resistance.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
GOLD: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Gold.
The chart is self-explanatory. Gold price may come back down to re-test the top of the Descending Broadening Wedge Pattern. If price gets rejected when coming down, expect to see the 0.382 Fibonacci Retracement level to touch which is in line with the Multi-year Support Trend Line. RSI is near overbought on the daily chart so be careful.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
One of the most beautiful charts around in my opinion. #silverI did not want to put to many unnecessary lines on this chart. It is literally not needed. What do you all think if this cup and handle play's out? When does the price break 50$? My guess is as good as yours, but if I had to I would guess we will be kissing the area by 2024. Maybe break out that year. It will be excited watching this unfold.
Vox support holds, assets will support through 2022C$3.66 is a weekly support level that has been tested and proven to be a solid base to build on. Looking left along the chart there is very little imbalance within the price action to backfill unless of course, we go lower. With their focus on acquiring third-party royalties mainly within the precious metals (80%), they are delivering growth and returns on the invested capital and have executed 25 separate transactions since 2019. Invested capital so far is C$32M and now they have around C$140M total equity value.
In 2021 they had 5 producing assets in the next year or so we should be seeing that number more than double. There are currently 17 royalties in the development stage and 33 in exploration.
SILVER UPDATE WITH EXTENED TIMELINE AND TIMEPRICESHi-Ho Silver! Away. Ride it long and hard out into the sunset on your silver horse.
$PAXG/BTC 12h (#BinanceSpot) Ascending channel on supportPaxos Gold is pulling back and retesting 100EMA where it is likely to bounce and continue bullish, let's hedge crypto!
If you know how to Margin trade, you can use up to 2x for that set-up
Current Price= 0.04565
Buy Entry= 0.04553 - 0.04381
Take Profit= 0.05023 | 0.05473 | 0.05972
Stop Loss= 0.04096
Risk/Reward= 1:1.5 | 1:2.71 | 1:4.03
Expected Profit= +12.45% | +22.52% | +33.63%
Possible Loss= -8.31%
Fib. Retracement= 0.5 | 0.883 | 1.272
Margin Leverage= 1x | 2x
Estimated Gain-time= 5 weeks
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com
Contracts:
#ERC20 0x45804880de22913dafe09f4980848ece6ecbaf78
#BEP20 0x7950865a9140cb519342433146ed5b40c6f210f7
#BEP2 PAXG-9B2
Silver Back To $30 As Russia's Ukraine war begins, the precious metals Gold and Silver are seeing bullish order flow. The Gold chart is on a tear, and Silver is not so far behind. The first higher time frame (HTF) price objective on silver $30.
My first BTC price objective was met; however, I am still waiting for my remaining targets to be met.
I paper trading the BTC move from 43,542.00 and covered/exited 80% at 35,480.52. The remaining 20% is incase the market crash :) I'd like to be apart of that... I wish this was a live position but soon soon. My paper trade risk was $1300 & I covered 80% at 8,000 K +
My first Solana price target was met but I did not paper trade that as I'd prefer to stick to BTC for learning purposes when it comes to trading crypto.
Gold Sell AlertIn addition to the post about silver I have a chart for gold which assumes immediate downtrend from now.
This is the movement I want to see before trading XAUUSDXAUUSD is one of my favorite assets to trade alongside S&P500, Crude oil, and BTC.
I'm interested in the current zone because we are on the upper level of the range where the price has been moving since May 2021. It's from this type of situation where we tend to observe reversal movements or breakouts of the level for further bullish movements.
The filters I'm working on are for bullish continuations, which I want to see before trading .
a) Clear breakout of the current resistance level
b) After that, I want to see a 14 days correction, as you can see on the circle.
c) IF that happens, I will trade (maybe on a new local high) towards the next resistance level (previous all-time high); the expected risk to reward ratio of a setup like this can be around 2 to 2.5.
Now, I will wait for the price to fulfill my filters, and if that happens, I will trade. If that doesn't happen, I will stay on the sidelines.
Thanks for reading! Feel free to share your view and chars in the comments.
Silver Long-term This is to support the bearish case in gold that I am so adamantly advocating. It is very difficult to twist it in a bullish way. Also the weekly chart also a very nice landing zone for Y wave.
Silver lags for now, wait for it...dg78 asked me about Silver... so a quick look here.
The Silver Weekly chart is lagging Gold, but does appear to consolidating since mid 2021. Trendlines are tilting downwards as price appear to be testing harder each time. Last week closed above the 55EMA on a nice looking bullish candle that gapped up and pushed to close above the 55EMA. MACD in this instance is also about to cross into the bullish zone.
Lagging Gold, but can turn up fast, like previously.
The Monthly chart shows a pennent/flag pattern with the long term target of about 41.20 in mid-2023. Noted that the retracement since the Aug 2020 top did not reach the 55EMA as a support, which can be viewed as a bullish bias indication.
Not yet ripe, but when it runs, it should run fast with much potential, IMHO...
The Gold Odyssey continues... an old but Gold storyBack in 2019, April 29th was the date that Donald Trump tweeted his launch of a trade war with China. This was significant because this was the first time ever, ANY politician took to social media directly to make announcements. Furthermore, it threw markets into a swirl that took a couple of weeks to work out what it wanted. Gold was the first to recover and move in early May 2019. This was a time when I started looking particularly close at Gold charts, having tracking it since October 2018 on a friend's query.
The ride paid off and exited >90% Gold related holdings on 11 August 2020; after taking some off just as the pandemic started in Feb 2020 and repositioning in mid-June 2020. Since then, as Gold prices hit 2K, I often got questions about would Gold prices go further, people were piling into Gold positions as media fanned the Gold rush. I kept telling those who asked that I exited, and yes, Gold will reach back to 2K and more, but it can take years.
Today, those years seemed to have passed.
You see... in the bigger perspective of things, ie. the Monthly chart, there was a Cup forming midway, and when D Trump started tweeting about the trade war, he triggered the closing formation of the Cup. That ended with a blow off top at almost 2100... almost.
Since then, the handle was forming... throughout the latter part of the pandemic to date, Gold was ranging in a wide band to form the Handle.
Again, I wondered what would trigger the closing formation of the Handle...
For those who are (not) familiar... this is the formation of a Cup & Handle Pattern; and one of a very large scale of years. This means to me that the pattern should be more reliable, more explosive (relative to Gold), and takes time to position while having to monitor over months being patient.
It appears that last week's Russia-Ukraine stand-off, with Biden (current POTUS) drumming the war beats spurred Gold into an awakening.
The weekly Gold chart on the left shows the point where I started tracking closely (and positioned) since 2019. Very nice breakout patterns formed since then until August 2020. The vertical timelines are projected dates btw...
So, we can see that Gold clearly broke out last week, and with a nice Gap Up, ending the week with a beautiful bullish candle.
MACD supporting the breakout and this came after bouncing off the Gann Fan support line (white up trend support line) that has been in play since 2019.
Time line projections put a retest over the next 5 weeks into April, before a potential launch point.
Now, I will leave it to you for further discussions what this might mean for global events... because, the next flight up to 2100 is fast and furious into end-June.
The Monthly chart of Gold (on the right) shows the Cup & Handle Pattern, albeit not completed yet. Projections from completion of the C&H pattern puts a 2500 target within the year, and 3100 target some time 2024 and 2025.
The MACD is turning bullish again after receding to baseline, and this bullish cross in the next couple of months can push Gold prices to projected target. A similar technical occurrence like this happened in Jan-May 2019, so it is not impossible there.
Again, what global events would push Gold this high... remains a good discussion topic.
Now... I can understand and accept that there are many other perspective and opinions about Gold. BAck in 2019, when I spoke of increasing volatility in markets, and rising inflation, and Gold prices targeting 2K, very few took notice, let alone believed it possible.
So far, over the last (almost) 3 years, Gold prices have played out as projected; even within a 2 week period of topping out $100 excess off target. Perhaps it is time we relook and revisit Gold... for what value it is worth in weight (not digital, you see... pun intended).
Enjoy! See you all along the way and perhaps in 2025. :)
XAUUSD UpdateAnother week another post that the gold is short despite it is melting up on a Russian-Ukraine war hype.
Yes, the triangle scenario is getting extremely challenged. I even allow a scenario where the triangle is broken and I have to relabel it in some other bearish way. Tradingwise, I am very close to the point where I give up with my shorts to step outside and watch whatever happens next be it a melt up or forming the local top which will allow me to re-enter. If it melts up - perhaps I will miss that move.
I will elaborate more using my blog / website referring to Silver charts for confirmation.
