SLV trade ideas
Buying here - SLVLike SLV filling the gap. Been looking for tests here for three-month and three-week tests of previous lows. If we hold up this week, Should be going higher
SLV poised for three-month test of the lowOne pattern I like to follow is a three-period test of the high or low. Should SLV hold this level (15.51) on Wednesday, the end of the month of February, it could be forming the base for a long-term bottom. The intermonth low for December was lower, so price action in March could also fall to test that low (14.74) but the a successful monthly close is a long-term positive. Of note is that there is also a three-week test of the low next week. This is very reminiscent of the Feb 2016 low in SPX, with a weekly and monthly test occurring around the same time. We all know what followed after that.
Contracting WedgeHi guys. Here's another pattern chart from your modest trade partner and imho. As always have a nice day.
Megaphone + BullflagHi guys. I was expecting more strength from silver today but in my humble opinion it's still strong enough to float up next week. Have a nice weekend.
50% ConfluenceHi guys. It was a pretty good drop and probably an exaggerated one taking into account the recent rally. I'm cautiously entering a very short term position here off the 50% retracement zone. The probabilities should be pretty good. Thank you for taking a look.
Long SLVNote the RSI in the way oversold territory, each time this has happened there has been a large bounce in SLV. Expecting the same.
BOL!
SLV poised for breakout to 19-21 levelSLV has met resistance at the 200 week moving average (16.23) but may be headed for a move higher if a proposed Elliot Wave count plays out. After a big move down, approximately 35 points, SLV appears to made a leg higher followed by support above the previous major low. This could indicate wave 2 of an Elliot Wave move. The current wave 3 move appears to be entering wave 2 of 3. A breakout above the 16.25 level could result in a wave 3 of a larger wave three move, generally more powerful. Fib retracements indicate SLV could run to 21, 26, 30, etc.
SilverWanting to enter above 16, can see a nice run
and then waiting to get out on purple entries....
SLV in Descending Triangle PatternLooks to be at the top of the triangle and probably rolling over and headed lower. If it drops below the 7 or 13 day SMA, this would be a good short trade. I wonder if it'll head all the way to the $13.30 level? Guess we'll see what happens in the next few days.
SLV TargetThe old 500k Dark Pool print just above is the near term target. Take profit. $GLD $GDX $SPY $VXX $JNUG
CapitulationSeasonal bottom after FOMC in place. Next stop is the 500k dark pool above. $TLT $GLD $GDX
$SLV / XAGUSD (Silver) BullishSeasonal Tendency set up into the new year
Demand Zone
4% Stop Loss 8-10% Gain
