Si1! (Silver Futures)
Nesting Sharks, 5-0 Patterns w/ Ichimoku & Fibonacci ConfluencesSo I have been having a pretty good day and might be pushing my luck here but -- this is what I am watching for on Silver for the next 1-2 days (or until proven wrong, anyway).
I am already short based on the near-completion of a much larger bearish 5-0 pattern (idea shared by @pixi -- thanks!). I have now identified two bullish sharks, both of which, if successful, will lead to bearish 5-0 patterns and continue in the direction of my current bias.
Interestingly there is support from the Ichimoku Cloud indicator at the completion of both of these sharks -- the 4H Kijun Sen lies at the PRZ of the baby shark and the SSB is right around the PRZ of the larger. In addition, the baby shark completes right in the area of the .382 retracement of Silver's recent bullish move from ~$16, while the larger completes almost right at the .618. Very cool.
*It is always advisable to watch the price action in these PRZs before taking the pattern so I will be doing so on the lower time frames to decide whether I want to close the shorts and switch to longs at these points.*
If you have any comments or feedback on this idea, or your own view of Silver, please share it!
Secular bull trend in tact Gold is in upward channel on the Monthly timeframe even after the correction from the financial crisis. I think we're testing the major trend support and will resume upward channel.
Silver: Bullish Butterfly/AB=CD Pattern w/ DivergenceI will need to double-check RSI before entering...and also make sure there are no strong bearish candles prior to the completion point. Even better, I may wait for price to show it respects the the zone and re-test.
In my mind small patterns are less reliable but this seems like an great opportunity to try and long silver with only a few pips risk and possibly catch a ride on a longer term movement which a lot of people, including myself, seem to be expecting.
What do you think? Any comments/feedback on this idea or your own views on Silver are welcome and appreciated!
Dollar Gold correlation in early positive phase $DXYSelling oil and accumulating metals was a good move $GC_F
GOLD/SILVER RATIO DANGEROUSBREAKED TRIANGLE AND RISING CHANNEL
WHAT IS IT... BULLISH FOR METALS AND MINERS?
AUD vs SilverAppears to still be in a down trend.
Interested around 0.03 level to get long AUD vs Silver
TECHNICALS | A Retrospective Look at Silver & Price TargetI'm short from ~$17.96 and looking for an ideal exit or price target.
Silver: Bullish Trend but Bearish Patterns on DailyIn the longer term bullish Silver but this seems like 2 points that it can begin a correction...the trade shown in the chart is an idea for the first bearish Bat pattern which is near completion. The indicators seem to align with this trade as well. The yellow arrows are just an idea :)
Silver Update. Reversal Targets 23.10The price finally confirmed the reversal breaking above the resistance.
We got small correction on lower time frame (wave b).
The yellow zigzag shows the anticipated path.
Now the metal aims at 18.28-19.98 according to Fibonacci projections.
Then we should see the larger correction.
And then another leg upside, probably the final before the huge drop down.
Utlimate target where the large Y = large W = 23.10
Silver. Alternative count. Triple Three (W-X-Y-X-Z)Since the price has been rejected for two consecutive attepmts below 17.235 and couldn't close above that level, I think there is a probability of another leg down.
Below 15.64 this count would be validated.
It's unpleasant for bugs but we shouldn't be biased and trade what we see instead of what we want.
Palladium potential H&SWhile I'm generally bulled up on metals but palladium could be running into a right shoulder
Gold Jan17Looking for an excuse to get short. The sell off on the dollar today not going to help as yet.
Buying interest below 1,140
United States SteelOn my theme on long metals also having a nibble long at X. Will wait on a move above 37.26 before adding on dips.
GDX - Do metals put in another leg lower?Even with gold futures breaking out GDX hints at another leg lower
Silver futures. Possible Ending Diagonal wave C. Reversal soonFutures show volume and it was needed for my chart so I prefered it to spot xagusd
Very clean chart formation.
Looks like it shows the finish of correction.
Volume and MACD confirm wave 3 in Ending Diagonal.
Break above the upper trendline would confirm the reversal.
Price is slightly above 78.6% Fib which is very common for ABC corrections.
Price action can take time as weekly charts are here.
Silver (XAGUSD, SI1!). Cup & Handle Pattern. This is simple Cup & Handle pattern setup.
We are in a Handle already.
Breakup of the Lip would validate longs above $17.24.
Target = Lip (17.24) + Depth of the CUP (1.086) = 18.318
Right at that area there is a double resistance - 09NOV low + Falling trendline
Some traders enter long on the break of the Handle, which is the first resistance.
Anyway one should obey its own risk rules.
