SLV too soon to lock the profitafter pullback of the trade price will advance up a lot
because the price will be at the lovest point of the rang
there is a visible triangle, but unfortunatly I move the stop loss into the zone and was kiked out.
SLV trade ideas
OPENING: SLV JULY 20TH 16 SHORT/OCT 19TH 13 LONG PUT DIAGONAL... for an .79/contract credit.
Taking a directional shot here on silver weakness. In essence, it's a synthetic covered call with the short put aspect of the setup around the 70 delta. The long put is thrown in to bring in buying power effect over the naked for those that are working in a cash secured environment. On margin, you won't be saving much in buying power by buying the long ... .
Will look to take profit on just the short aspect at 50% max and look to reuse the long if another bullish assumption setup presents itself between now and October ... .
Silver - Price in Bottom of Range of the SLV, Is It Going Up?Silver - still a good entry point as the last couple days, and moving up from the bottom of its range.
There is a whole, whole lot going on in the silver (and gold) story, but that's another article. For now I'd like to point out some action on the SLV 's chart.
Silver has been bouncing in a tight range for much of 2018. Buying in the low $15's and selling on the way up has worked for a lot of this year. Betting against silver has worked too, but because of the accumulation of physical silver by several large entities and for other reasons, I don't believe price will stay this low much longer.
Silver is being pushed lower by a stronger dollar, rising yields, and a host of other factors including competition with cryptocurrencies as a place for capital to go. But sentiment is rising for silver as a standby that, put bluntly, isn't gold and isn't subject to gold's issues; in addition to being recognized as a safe asset that has strong potential for appreciation as other things - markets, stocks, bonds, cryptos, presidents, deals, etc. - decide what they want to do.
In the interest of simply disseminating a good entry point in the SLV and saving a more in-depth article for later this week, I'll cut this short and just point out the action in SLV's price - indicators and patterns alike are pointing to upward movement out of the bottom of the range.
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See it on the site: holsturr.com/category/markets/charts/
** For speculative and research purposes only - good luck! **
Extremely Bullish Silver XAGUSD SLVBeen watching Silver since the beginning of 2018, price action has been extremely bullish.. a lot of traders are short at these historical levels.
$SLV @ Big ResistanceLong term downtrend is still intact but things get interesting above $17 for those looking to play bullishly.
SLV could catch a serious bid if it breaks this downtrend vs GLDSilver is so hated right now that it could have a big technical move. That won't happen until SLV starts outperforming GLD>
Fourth time the charm for Silver?Silver shot up to resistance several weeks back but dropped hard testing support. My expectation was that if silver once again failed to break out to a higher high, it could break out of the pennant and drop, building a bear channel.
It appears that silver is now set up for another three week test of the high. As the arrows point out, the last three times we had a similar setup, price failed. Forth time could be the charm. If not, might be the last chance to get out before much lower prices.
C wave Surfer! ride the Silver bullet!Silver is sporting the simplest of elliott wave patterns, the ABC and its at the starting gate of the C wave up.
Silver should close to double within the next year.
# BuySILVERSellCrypto
Needs to show hold and move upOtherwise break down to 14s. I think we'll see a break and move out of the descending triangle, but I could be wrong, watch the RSI trendline, MACD at 0.
Weekly showing range bound short termWeekly showing range bound short term with a little room to downside. Miners haven't shown gains yet with decreasing volatility in silver/gold and moving to positive FCF. Think we'll see miners catch up in the next 1-2 months with prices of precious metals which may stagnate and then it remains to be seen where this goes.
SLV NeutralShort term bullish but don't know which way by July/August. Long term trendline holding support, but 50 mma acting as strong resistance past several months, stuck in trading range until it is not. I think we'll see miners move up a bit to July, then not certain of movement. Too many factors
Silver SLV updateLike gold -0.14% also near decision point. Today's rise closed one gap. One small gap remains around 13.60. If get bearish candle formation here or break of current uptrend line will short. Process your way.
Trouble if we can't get above January high - SilverI had been anticipating a three month test of the high in silver this month. The sudden move up adds to the drama as we are still early in the month. A failure to make progress here and price could fall to 13 or even under 10!
04-18 SLV ChartSo we need to know the next floor for Silver on the elevator. I'll give you the next 2 floors.
I'm surprised this is taking half a century.
04-18 SLV ChartCup and Handle formation X 35 years. I think Silver could go to $162. .. before 2035 comes.
SLV June 16 Covered CallBought two lots of SLV at 15.74 and sold June 16 calls for 38 ea (45 delta strike). The IV was >20% today.
The position break even is reduced to 15.36 with a 4% max profit on the break even cost.
At 60 days to expiry, this yields 25% at an annualized rate.
Ideally the cost basis on the position can be further reduced after June with additional calls sold against the position in the months ahead. Thinkorswim analysis shows 60% probability of some profit.
Precious metals don't yield, but covered calls can be used to generate income against an existing ETF position.
Silver has been trading in an increasingly narrow range for the past year, and may continue to do so for some time yet.
SLV 6 point breakout After a bullish divergence (blue lines) AMEX:SLV has looked strong and looks to be breaking out today of a smaller congestion pattern. Near side resistance at $15.95 and $16.05
Silver will Whip Lash Soon! Gold nearing it's Inverse H and S BREAK OUT and Dollar is nearing completion of Bear Flag. Enjoy the Ride. Big money to be made here!
