SLV trade ideas
SLV - 7 weeks of higher lowsZooming out on the weekly SLV seeing 7 weeks of higher lows along with seven weeks of higher volume. As long as we close out today with a higher ow, we're looking good into next week. These minor pullbacks or not only bullish and necessary, they are gifts.
SLV CoilingAfter a big run up, SLV looks to be cooling off by showing us chopping sideways action. This is also forming a bull flag. As long as economic indicators remain, and silver continues to get mainstream attention to a slv:gld ratio deficit, then $29-$30 should be the next target. Neutral while this plays out. Long after an upside breakout.
SLV Silver Trust Believe we are in a 4th wave correction. Expecting this to continue to correct for a lower low in this move ~23.1
This Is A BULL TRAP AT $25 Looking For A 20% Drop Title says it all - looking for the GAP TO FILL at $18 or so before the rocket takes off to $40 plus #stocks #SLV #Silver
Silver SLV Clear sideways consolidationNo moves until new or Markets post big declines.
Good Tranes for selling IC's or Credit Spreadts
-Sell Put Spreadfs at dips and sell call spreads on peaks
Watch for BIG moves up with any bad news or down market days. No rush to get in till after 9am market moves settle.
If you have access try futures on /SILU0 and /MGCZ0 as good buys at bottoms.
Hedge with SPX
good trades!
CCI Divergence and Liquidation VolumeGLD and TLT led ETF redemptions in the previous 7 days indicating a shift away from defensive sentiment. SLV played catch up in July-Aug, ripping to 27.39.
Among the price/volume family of indicators, CCI showed the most dramatic price divergence. CCI cooled down from 401 to 124.90 while price rose 25% in the same time frame.
Using anchored VWAP from July 16th, prior to the face ripping rally, we can see that the average holder from that point in time is in the money, and the VWAP is behaving like support. From last week's blowoff top, Anchored VWAP is behaving as resistance.
This week 's price channel is almost double in volume vs last week. This is a hands off moment to spectate the consolidation for rally participants who cleared their positions in the money recently. I am looking for a bigger pullback, otherwise I would rather trade other asset classes.
Pullbacks are normal.... SLV Still strongXAGUSD SLV
Still a great time to add and average...
Long and slow growth will have short swift climbs then long slow sideways consolidations.
$30 by Oct. 2020
$45 2021
$90 2022
$200 2024
SLV bounce from 23!Here we can see the MACD beginning to turnover. After SLV, as well as GLD, tanked this week, it found support on the line marked in the chart. As long as it doesn't break through that line of support I think we'll see some upward movement in SLV
$SLV IShares Silver Trust $22.30 target
The inevitable selloff arrived and it looks like it may have some more room to fall.
We see $22.30 as a possible level of support which may be temporary.
Lots of inexperienced traders FOMO'd into this so weak hands all the way up from the mid teens.
Multiple gaps are also negative, so caution needed and avoid a falling knife
SLV is presenting a buying opportunityTechnically while I am long SLV in the big picture I think there may a little but of downside left to complete a healthy retracement. The tool I've used here depends on identifying divergence (in this case MFI but RSI is fine as well), you then measure the duration of that divergence, and lastly project it (duration) off the price low (as this is bearish divergence) within the period the divergence was identified. The notion is that this is the average time it will take for that low to be tested. What this means is that we *may* see a low in SLV on 8/14 and the general price range I'm looking for is 21.4 - 20.84 (prior low and pivot point) with a .618 retracement of the massive rally falling in that range. If the .618 retracement doesn't hold I will then look at the .5 mark visible on the graph. Please ask if you have any questions.
SLV support levels - OpportunitySLV currently sitting at strong support from 2011, 2012, 2013, with a big gap down to next major support level at $23-ish.
As long as Fed keeps promising to print money and dollar continues to look weak in the long term, I am loading up here. This pullback is very bullish and much needed, shaking out the weaker players.
SLV This WeekBreaking down some of the intraday patterns here in SLV. RSI well overbought based on historical numbers. We also have a GAP to fill as seen in the previous burst. The $25.25 target also lines up with a 50% Fibonacci retracement point. Disclosure, I'm short SLV for this week.
SLV Bull Season - USD is WEAKThis chart illustrates the classic principle of "store-of-value". As the Fed has initiated unprecedented QE, the strength of the dollar has inevitably plummeted, inflating the value of precious metals and other stores of value. Now is a critical moment for this chart, as we can clearly see the dollar in a descending channel, with SLV (and GLD) rising steadily. If the government can manage to bounce the dollar, SLV will tumble, but I think we can anticipate steady growth over the next two months.
