SLV trade ideas
SLV Vs GLDSLV showing a breakout in terms of relative strength to gold. $DXY breaking down further would send both higher, silver .... to the mooon $GDX $SILJ $PSLV
Possible parabolic bullish chart pattern for $SLV (WEEKLY CHART)Supply and demand trading strategy for $SLV (NOTE: this is a WEEKLY CHART).
It might be a time to be aware of potentially parabolic bullish chart patterns for $SLV. The first potential entry once it closes above $24.06 . The reward vs risk improves on the pullbacks.
Between 2010 and 2011, $SLV went parabolic from $24.06 to $48.35 in less than 200 trading days. GOOD LUCK
SLV April 2013 Gap yet to be filledNearing a gap which failed to fill in 2013, therefore resistance at 23.84, with next resistance to follow is $25.17
Long Term Strategy for SilverSilver has clearly broken out from its bearish cycle indicated by the white down trend line. Based on the last bull run we should reach the 2.618 in about 770bars or approximately 2 years. In the short term, I expect a retrace to the .236 fib over the next few months making October a good time to enter the market at around $18-$19. Furthermore, Rsi and Macd seem to be reversing, so it's possible the short term retrace has already begun. Set the date and check this post and the price of $SLV around Oct-Nov for a good entry point. Good luck and remember to hit the like/follow button if you agree with this idea!
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
SLV - Rally to Continue?Last year when looking at the possible double bottom scenario, an imagined breakout looked something like what we have just seen, especially in the cash trade where prices rallied to a serious resistance level.
The Double Bottom scenario assumed that we would break through resistance and then back down to test the break out level. Support here, at just underneath 20, would then be the launching pad to prices that I expect would test the highs. Just look at gold. Silver is catching up and should monetary conditions continue as they are, hard assets of all types will certainly continue to move higher until such a time that the dollar is wiped from the face of the Earth.
The worst case scenario is that over the long term, we had merely corrected to the .328 fib level and precious metals become again the worthless relic of the past. Don't think so, especially as the virus threats continue and precious metals supply continues to be endangered.
In any event, as mentioned before, wave 5s can be stunning! This is wave 5. As with all five wave impulsive moves, an A-B-C correction usually follows. Make sure you have some cash on hand to add on as additional waves higher are sure to follow.
SLV potential zone?Honestly just drew what ever the Ouija board showed me and this is what popped up.
Kinda wanna see if it pops up into that zone. Or maybe the dollar will pull a sneaky and rekt my position. who knows *Shrug* I don't, maybe J pow does, but I don't.
SLV - possible new targets!SLV cleared my 22.23 target on a gap up open, the third in a week or so. I have set two additional targets that may be achieved if the metals trade can continue higher before a much needed consolidation phase. Next two targets are $23.62 and $25.17, the latter marking what I would call the control line for the stock. Watching closely and have reduced most exposure in mining stocks and a big part of my SLV and GLD holdings to be prudent.
SLV closing over 2016 August high of $19.71.On July 24th, SLV closing over the 2016 August high of $19.71. The next Fibonacci level (.786) is $23.48, then $26.93. On the options market, August calls for $22 was over 7000. Sept $22 calls over 12000. July 23rd, a $24/29 October call spread bought 20k in volume. FOMC meeting is July 30th and expecting jpow to say they are printing more money. Hope you all are banking on gold and silver stocks!, Have a great day! Cheers!
SILVER - EASY DOUBLEAfter breaking out of a multi-year consolidation, Silver has been trending upwards and looks on trade to fill the gap left back in April 2013.
From today's prices of ~$20, I see Silver hitting $27 soon and ultimately my first major target of $36 by the end of 2021.
If you compare this back to 2009/2010...
2009: Silver went up 57%
2019: Silver went up 80%
And guess where a gap fill puts us?
$27, which is a 54% increase this year.
This means we're likely on track to have a year like 2009. History doesn't repeat itself, but it often rhymes.
I'm long silver for the long-term, and believe that as long as we have huge federal stimulus and economic uncertainty, precious metals will continue to outperform stocks.
Insanity move in Silver Multiple gap ups outside of the Bollinger Band, mixed with running through multiple longer term and intermediate term Fibonacci levels. Avg short entry at 21.40 looking for a short term top. Not looking to hold short long term, just a trade.
SLV LongFundamentals: Inflation hedge to record levels of global, central bank QE.
Technical Analysis: Bullish technical breakout of multi-year resistance.
Entry: $21:50 Target: $48
SLV - overbought?Perhaps but I have added a another potential target at 22.20 if things get real crazy!
SLV - Silver triangleWe have the same setup in SLV like in XAGUSD.
Same triangle. Same multi month trendline.
The question is will the banks allow the rally or they just create a false breakout.
Volume looks good in SLV.
$SLV 20$ as break out price for SeptemberFor big boys: if there is a new wave of virus and another lock down is enforced or another black swan event , we might see silver to all time highs.
