SLV trade ideas
Possible Wave 4 startingCould be that we have just completed a wave 5 finishing off a wave 3. The current downturn may be signalling the beginning of Wave 4.
The last correction, wave 2, lasted approximately 3 months. Sometimes wave 4s can last a long time and display many different formations. The eventual Wave 5 should challenge the last major high, just under $20. I'm projecting that it will overshoot, going to a gap above $25 and then testing the breakout area ($20).
I will be watching price on Monday or Tuesday to rally and test Wednesday's high. Given the current strength in the recent move, I expect price to break through to higher highs. But a failure to make new highs may confirm that Wave 4 is beginning.
SLV After a Drop To $8.50 Expect a Skyrocket For 5 Years Forward$SLV Title says it all - we expect -after a final leg down to approx $8,50 this is a rocket ship we want to be very long for the ride. #silver #trading #stocks #crypto
Silver's Long GameIt appears that the long correction in the silver market is over. A bull market in silver could see prices reach over $100. Only a matter of time and patience.
SLV double bottom long trade $26 targetIf this double bottom pattern is confirmed and back tested at the completion area around $19.50, there could be a run up all the way to $26!
Silver Imminent Breakout Years in the MakingSilver is at an imminent breakout zone years in the making. This likely might just be the trade of the year is not the last few years. The equilibrium is getting very tight with SLV making it's first weekly higher low since December 2017.
Furthermore the macro fundamentals are very bullish for precious metals. The Feds also recently reverse course on rate hikes and expectations are now rate cuts. And as crazy as it sounds, this is all on the back of strong economic numbers. With the looming potential of further escalation of trade wars and heighten political instability; it seems easy monetary policy is almost certainty. And the icing on the cake is that Silver to Gold is near all time lows. As long as bullish momentum continues, there'll come a time where silver is going to slingshot and play catch up with go and it may happen quite soon.
What the hell just happened to SLVI said silver (SLV) was going to rise but it honestly has shocked even me. Lately it had the momentum of a runaway train and even started going exponential with several gaps up it now has to fill, but when it blew past the second blue top line (a long term overhead resistance going back to 2015 if you can believe it) I was truly shocked. I sold a lot of positions in anticipiation of a pullback just over 16.00 but the resistance of the large channel we identified several weeks ago has been an excellent guide. Today there was a monumental pullback. After first rising over a 1% for the day it was down 0.7% at the time of writing.
The other sign that a large pullback is due are the COT reports which show the largest institutional short position since January of this year in precious metals. My patience for a large pull back has finally come. At the very least it needs to come back to the top blue line, but based on the size and breadth of the upward channel it could easily pull back even further. We will watch key support areas but at the close of today a short position was entered in the precious metals/miners market (please refer to GDXJ which failed to make a higher high and has already breached the upward channel).
SILVER WEEKLY Can you imagine not being long on SLV
Doesnt get much easier than a daily double bottom inside of a weekly double bottom
But most people rather wait till the $40's ;)
*This is NOT financial advice*
SLV Double Bottom ProjectionsSLV is exploding up in past days. A longer-term view shows the massive 2015-2018 double bottom. To confirm the double bottom, SLV will need to break above 19.82. There's a gap above the 25 level, a likely target. A successful test of the breakout level will likely be the launching pad for much higher prices.
SLV underperforming GLD for a long time. Is it time for silver?Looks like silver could be ready to follow in gold's wake?
SLV goes BAM !!!If I had not been a Gold Bug looking for sound money years ago I probably never would have bought into Bitcoin when I did. Once you know what real money is, you know how to recognize it when you see it. It's also why I continue to buy the metals as well as the cryptos and the metal derivatives with the cash I can't get out the market without penalty.
Gold, Silver, Bitcoin and even some Litecoin is what is going to get you from this side of the crash to the other side with the least personal damage IMO. Even If I lose 100% of my paper metals due to counter-party risk it just means my physical stack will be 5 or 10 X by then.
Good luck out there. It's going to get rough.
SLV Gap needs to be filledSilver has a long way to go to catch up to Gold so price may easily break through previous levels of resistance. The gap above 25 seems like a good intermediate-term target.
SLV Compression, Then what?After this SLV compression, do you think an expansion to the upside will occur? I think so, based on current trends in the bond market. Your thoughts?
SLV break-out seems confirmed, new bull market?Itrust Silvershares went up another 4% today after fears of a global recession hit the economy. Gold is also up. In comparison to the gold-market SLV seemed to neutralize, but now the break-out of the previous pattern seems confirmed.
New channel in Silver becomes more clearI did not immediately appreciate the second overhead resistance (blue line). It starts back in 2015! It represents the last area of resistance to be targeted. I've tried to make the new channel lines thicker in appearance but right now SLV is filling up the gap from yesterday using the resistance line as support. Next target is the second blue line but I think we can all see how this is going to play out!!
Understanding Charts - Part 1To start your trading journey you're going to have to understand charts.
This session looks at types of chart (specifically line and candle charts), different timescales and what the benefit of that is for you the trader
Time for a pirate adventure! (Part 2)Looks like we have navigated through some treacherous waters. Onward to the treasure!
Has the ascending channel for SLV finally been set?Todays action in Silver (SLV) was nothing short of earth-shattering. Several overhead resistances were smashed and this paves the way for some very bullish action for the shiny metal. The large ascending channel has now finally come into view with this move I hope everyone allocates as appropriate! I would recommend SLV for long-term holds as this ETF decays less over time.
