SLV trade ideas
BEWARE OF THE BEARTRAP!!!!DON'T let this down-worth movement fool you.
Look at the positive divergence on the RSI...
Time to buy...?
06-28 SLV Chart (by Got Goldies)Who doesn't like that inverted head and shoulder? And look at the new green bar babies being born.
06-16 Silver Chart (by Got Goldies)After the 3rd bottom on the double sliding inverted top Silver should start flying.
SLVToo easy... but don't put all of your eggs in one basket. Leave one or two out to make breakfast with.
06-13 Silver ChartDepending on how you you look at this drop.."panick or backtesting" of the black channel.
Expecting a Top in PMsA few days ago I stopped out of a short miners position, but I'm still expecting an intermediate level decline in PMs. After that decline, it will be a very good time to go long.
I will watch these carefully and may decide to short silver. I think the chance is decent for a consolidation then "one last pop", similar to the 4/13 candle. Then when silver drops, it drops like a rock.
Due to Gold's relative strength in the sector, I believe it is not the ideal short candidate. Maybe it has more geopolitical demand as big countries gradually move to replace the dollar reserve currency.
SLVWill be buying some silver if it comes down a bit more. Watching to see if it retest this temporary bottom without falling through it.
05-18 SLV Chart shouldn't look liek this #2 (by Got Goldies)By now you are addicted to my charts...and see dejavu again.
05-18 SLV Chart #1 shouldn't be there (by Got Goldies)Let me show you how this chart is suppose to look like. To cut that part out you have to do this.. look for #2.
SLV Analysis
If you are a silver trader, here is a long term look at the ETF. I am neutral at present, as the Dragons belly has been pierced. Price can easily trade in a narrow range here, triggering stops at an alarming rate. Wait for a pierce (and hold) of the oceans surface (Dragon takes flight) before a long position can be initiated. Support and resistance levels are clearly illustrated (green dotted, solid green and solid red lines.
Dotted Median lines provide an 80% probability, so exercise wise yet aggressive risk management. Good trading!
05-10 SLV Chart (by Got Goldies)I couldn't pass on $15 Silver at #5 in blue.. correlate this to the lesser inverted head and shoulder at #5 in red. And after 4th and 5th bottoms comes a parabolic. This will take us up to $24.
It should go up to $20 and come down on the red line like before (which was the blue line).
SLV- Cypher Pattern (Bullish Soon) Please refer to chart:
SLV EFT daily index:
1) Bearish cypher pattern is almost complete soon.
2) Price action is at a fib. retracement level 0.786 (which is last reversal or will go down 100%)
3) RSI indicator is very low or oversold,around 18.7
4) Wait for daily price HA candlestick action to close above $15.69 (green HA candlestick).
If above happens, this coming week, then look at bullish set ups on lower time frames to entry a new trade. Good trading & money management is key.
05-05 SLV Chart (by Got Goldies)Man I'm starting to have to rethink my theme. That June or July will be the bottom.. Fed rate hikes in June and Sept. And that Next Dec Silver hits $24.
$SLV 15.4 possible rebound from here, (Dollar weak), stop 14.8SILVER ETF 15.4 possible rebound from here, (Dollar weak), stop 14.8
