Silver fractalSome silver fractals, what i mean by 'equilibrium crossover' is the point where the rising wedge breaks down into the falling wedge, producing the bullish pattern. After some more movement down within the wedge upward movement can be expected as per the falling wedge pattern. Used a mirror support level for a possible reversal point for silver.
Silvershort
Silver ShortNice Short opportunity for Silver, follow me for more, on this one I expect silver to bounce quickly, if you're feeling a little confident you can increase gains tremendously by making the stoploss smaller, but I'm still learning so I shall leave it there, follow me for more. I have improved so much, you wont regret it! Would greatly appreciate this if you like, agree, or just to get a bunch of more good trades that will be coming
Price of Silver Is Trading In a Triangle, What Does This Mean?In the market, there are no guarantees, only probabilities. That is why traders must always look and prepare for different scenarios.
If you have been following my analysis on Silver for a while you have probably seen some of my analysis suggesting Silver could rally to around $22 articles.
However, my bias has changed in the last few weeks as the price is unable to move in five-wave higher to break 2019 high. Instead, XAGUSD has been moving sideways. This behavior reminds me of more and more of a triangle correction under construction.
See the idea on the chart above.
The Elliott Wave Principle states, that triangles are sideways corrective patterns, constructed of five waves, labeled A-B-C-D-E, where each wave is smaller than the previous one unless it is an expanding triangle.
It appears that the Silver exchange rate has almost completed wave D to the downside during Friday's session. If this count is correct, we should expect another rally in the face of wave E, which would complete the whole triangle.
By any means, if my assumption of a triangle is right, wave D should not breach wave B low, and wave E should stay below wave C high. According to the Elliott Wave Principle, triangles precede the last move of the larger sequence. That is, Silver should resume its larger degree downtrend as soon as the correction is over.
What's your thought about Silver?
Gold/ Silver Ratio - Historic First - 115 : 1The gold silver ratio (GSR) has set a new 100 year record, with the value of 1 ounce of gold exceeding over 115 ounces of silver.
I would suspect that the drop in silver is largely due to the global slowdown that we are currently facing from the Coronavirus, as silver is predominantly an industrial metal, given that this slowdown is far from over then the logical conclusion would be that silver's move to the downside is not yet over.
This means that despite the GSR being in excess of 115, then higher levels are entirely possible, and are in fact likely.
This comes on the back of silver making intraday lows, below that of the 2015 lows around $13.65, with silver touching $12.70, this means that we could be seeing silver in the single digits in the not-too-distant future, particularly if the global lock-downs continue.
That being said, we are likely to see some enthusiastic buying at these levels from precious metals investors, particularly with the GSR at these levels.
So a bounce is possible, although i do see lower nominal silver prices going forward, the GSR however, may not display the same one sided move.
Sources:
www.macrotrends.net
NOW ON PRE-SALE AKA BACKORDERConcerned. Had always dismissed claims that silver would not be available when the time came but tonight, I've just noticed apmex.com (a top online retailer for precious metals) has now listed many of the top selling 1 OZ SILVER BARS as PRE-SALE ONLY. AKA SOLD-OUT. Then I checked the smaller sub ounce gold coins. Same story.
Wonder what happens next?
FOREXCOM:XAGUSD TVC:SILVER TVC:GOLD OANDA:XAUUSD OANDA:XAUEUR FX_IDC:XAUCNY OANDA:XAUJPY AMEX:JNUG AMEX:JDST AMEX:GLD AMEX:GDXJ AMEX:GDX AMEX:BTG NYSE:GOLD AMEX:NGD FX_IDC:XAGUSD AMEX:SLV
SILVER short trade setup scenario!!Plan : wait for price to bounce off from resistance level or supply zone --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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Bears are in full control of SILVER. Capitulation is coming.Ladies and gentlemen,
Today my bear-radar is on FOREX.
Supply estimation :
About 1.5 million tons of silver have been mined from the earth over the course of human history.
Is Silver a store value in case of economic crash ?
During 10 years, Silver was in a massive bullrun. The 5th wave, in EW theory, shows an over-extension of the 3rd. The over-extension is 2.618 which signals, on a monthly timeframe, a Bubble-market. Crash are generally worst in term of price and time than the precedent bubble : the last 10 years have shown the power of the bears in this volatil market. For now, Silver looks way more bearish than gold.
Technical analysis :
The price is currently consolidating at the D point of the EW's descending triangle. Volatility is normally compressed and the pattern is ready to play out. That type of triangle breakdown approximately 70% of the time. It's generally a very simple trade if you wait the confirmation of the break. On this trade we are anticipating this breakdown and shorting the current resistance.
- RSI shows hidden bearish divergence and monthly bear-market area.
- ABC needs to be completed by 1:1 extension on logscale.
Type of market : Irrational (Crash).
Type of trade : Continuation (speculation+).
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DISCLAIMER : I'm not a financial advisor. I can't be responsible of your losses. You trade at YOUR OWN risk.
trapped between 18.5 - 16.5. Fight of the bears and bulls. price if silver is stuck between 18.5 and 16.5. the sellers push it up from 16.5 till 18.5. the buyers push it down from 18.5 to 16.5.
it is an interesting sideways movement where we can expect a bullish/bearish breakout. personally I am expecting some fake moves to trap
the early sellers. but knowing the uncertainty in the world, the price can make a push above the 18.50 level.
$XAGUSD $SLV #Silver repeating 2016Silver is a strange one, the chart looks like a volatility chart, ie sudden spikes up, which then slowly fade (unlike stocks which do the reverse).
The last cycle from Jun 16 to Jun 18 was a classic bearish descending triangle. Price action from summer 2019 looks remarkably similar to May 2016 onwards, we are now at Nov 2016, which means this is just the place to short for a 6.7:1 trade.
SELL 18.00 (MARKET), SL 18.50, TP 14.65, RR 6.7