Get started

USLV

Silver/Gold Triple Three Pattern? HelpSpent a silly amount of time on this. Every Combo pattern seemed off until I came across this one. Wanted to focus only on Elliot Wave Theory. I'm trying to learn more about combination structures WXY and would welcome an expert opinion if any have one. There's some sort of double corrective structure going on here in Silver, I can just smell it. But can't put my finger on it. I'm reaching far out on this one so it could easily get invalidated, but it corresponds nicely to what I was originally thinking would play out in Gold/Silver over the next year. It took me a very long time before I realized that we might only be half-way through this corrective period, and this is the only structure that fits given that we only have half the price action to speculate off of. Just throwing a stray metals post out into the ether of bitcoin posts. This is the link to the idea: www.google.com
AMEX:SLV
by RHTrading
4
Silver Lining IIDaily RSI divergence during the low. Funny enough the low seems to have occurred again during full moon on march 1. CoT looks better now, compared to december last year. Even more, if I`m not missing something, then this is the first time since march 2003 that large specs are net short. A close above the 10ema (16,51) today would be another positive sign for me. Especially Gold has been highly correlated with EUR/USD in the last few weeks, more then normal imo. EUR/USD and DXY are close to their multiyear trendlines, so I´m looking for a conservative 17,20 as my first target, then take it from there. SPD in Germany gave the ok for a grand coalition this should support the euro for now, as market waits for the final outcome of italy election.
FX_IDC:XAGUSDLong
by AnRuaN
Silver finds support at $16.2Silver finds support at $16.2. COT futures data show that the Commercial Trader Short/Long Ratio is down to 1.23. This is a strong buy signal. The COT data can be seen on barchartdotcom and goldseekdotcom. Since USD has shown a lot of strength recently, it is reasonable to cost average smaller positions into this over the next 4-8 weeks. I am long 1 silver future and will open a half position in USLV in my 401k today. SLV is a 1x long etf. USLV is a 3x long etf with an average volume of 2.9 million shares so it is highly liquid.
OANDA:XAGUSDLong
by haug01
Buy USLV (Silver)USLV hast retraced to about the 50% Fibonacci level and completed a gap fill. Looking for a bounce to the upside to test its previous high. We possibly could see another breakdown in price and it fall to 11.70. I have already entered the trade looking for a pop back up. Entrancement corrections can move quickly in-favor or against you. Target 1= 12.71 Target 2= 13.15 Consider buying more around 11.71 as the final flush might cause the leveraged ETN to run downward. Stop = 11.40 If you get stopped out I would consider reentering a long position with new targeting as the overall trend is upward in my opinion. **Not a pro trader, do your own analysis**
ULong
by GregOh
3
SILVER "Just for Fun"I never chart silver but I wanted to have some fun and see what I can see. This is the weekly chart for silver. There were a couple of things that stood out to me. The first was the huge bearish divergence on the RSI which in my opinion, has not resolved itself yet. In other words, it suggest that a good drop to much lower prices is in our future. (I am not calling a date). The next thing that I noticed is that it appears that we might be in a falling wedge which will eventually be broken. But that also suggests that we could fall a lot more. I drew two strong support zones. I cant imagine silver falling any lower than $10. The thing I am not sure of is if that upper wedge line is relevant yet or if we have to move sideways a little more. Time will tell. Enjoy. Oh and one last thing....the 50 weekly MA just crossed below the 200 weekly MA. That's Bearish.
FX_IDC:XAGUSDShort
by SalN
1
SLV: Silver Updated target and posible course. Often after a long term bullish rise (as occurred in silver upto 2011) there is a slow time of consolidation from the overbought condition before the next and often final burst up. Sometimes this takes the form of triangle (contracting or expanding). With that in mind I thing we may be going to form a multi-year side ways triangle in silver. Just a guess. If this is correct it should be great for traders if we can stay in step. With this in mind I favor we are about to start a "C" wave up to "BB" (see daily chart). C waves often are full of energy which I will be too if I am correct. Currently we are still in a down channel on the daily chart. There is a small negative reversal currently in the daily RSI. I think we may get one more move down likely to the 14-14.5 area in the SLV. Good fib "relationships" at that level. If that occurs will be watching closely for a price action "trigger" to enter long. Of course it could go down to the 13 level to form a double bottom as well. Hope this ends up being helpful to your trading method. Comments always welcome.
AMEX:SLV
by goodguy