SLV trade ideas
SLV - Positioning for next leg up!SLV looks like it is just about done consolidating its big move up. Still way behind and playing catch up with GLD. GLS/SLV ratio is still high relative to historical norms during metals bull markets. Breakout coming....should be upside! Wait for it!
SLV - CoilingSilver is coiling and I think we will see a very nice risk reward of about 3:1 here very soon. The MACD is gaining some good momentum in positive territory and the RSI is in a good entry point range. The 50 Day MA is coming up right to the price point and I expect it to hold as support as we've seen across the market (so far). This entire setup relys on confirmation and a retest of the upper trend line. Everything could go either way right now.
Hi Ho Silver, we go like this till we go up!As you can see on the tremendous chart, silver will go and do things before it goes on a tremendous rocket ride.
Some little gap resitances and supports being seen on the different time frames.
Overall bigger picture is a symmetrical triangle which should resolve bullishly based on the SLV/GLD ratio chart.
In the shorter term we may follow roughly follow the yellow line into some of the gap candle resistances on different time frames.
Upper spot which the yellow path I've drawn hits comes into a moving average at the same time, then back down into our triangle before we resolve to a grind upwards out of September before final rocket up.
I haven't posted the SLV/GLD ratio, but I guess I should to show that the timeframes are in alignment for the bull run.
SLV OBV divergence still distributing it looks like, on the 30 min chart.
Disclaimer, this is only for entertainment purpose and doesn't serve by any means as a buy or sell recommendation.
Silver looks really complicated herewait for clarity. but one possible scenario here.
Disclaimer, this is only for entertainment purpose and doesn't serve by any means as a buy or sell recommendation.
OPENING (IRA): SLV NOVEMBER 20TH 21 SHORT PUT... for a .43/contract credit.
Notes: The highest background implied on the board in my options liquid exchange-traded funds at the moment, with 30-day at 51.93%. I'm viewing this as a starter position to replace my GLD for exposure to precious metals, since the implied is generally higher, so you get more bang for your buck. There is no December currently, so just doing a "one rung" here. 2.09% ROC at max; 11.56% annualized. A similarly delta'd GLD short put in the same cycle: .871% ROC at max; 4.82% annualized. This is due to GLD's lower implied at 20.8% (30-day).
$SLV - entered callsKeep a close eye on $SLV we will get some pretty explosive movements over 25.55.
Drop a follow for more ideas
Isilver trust -maybe we will see a dip back down to fill the gapIsilver trust -maybe we will see a dip back down to fill the gap
i put in orders for $18,$19,$20,$21
I hope to get it cheep before it goes higher.
-or-
It continues sideways in this consolidation pattern and then moves higher.
Every week it stays here at the current price I will buy at the close.
NOV 3 the election will push metals higher as who ever thinks the guy who won will tank the economy and silver and gold will shine for a week or so before December.
GAAN Fan for silverNot nearly perfect but hopefully can service S/R from another angle. BTW, silver demonstrated good resilience in this tumultuous week and not down by too much, which is really a bullish sign IMO.
If you do performance comparison between silver and the Tech stocks, not many better performers out there.
Have a nice weekend everyone.
SLV iShare I love trading SLV instead of XAG.
Simple reason, you get all the price action but you don't trade with leverage (at least on my trading platform I have that option)
I'm in for the long term with SLV. Might do a few small trades if the market signals are significant, but largely I'm HODLing.
Silver has been receiving lots of positive publicity lately wit Warren Buffet moving away from the USD. And being much more volatile than Gold, as well as cheaper, it is a great option to diversify and to be a part of the commodities market.
It is important to note that silver is used in electronics, batteries, nuclear reactors, touch screens etc. I don't see the demand decreasing for these items at this point.
Curious to hear what you trade, XAG, SLV, both?
Respectful and constructive feedback welcome.
Thanks, Ev
Get your 18.50 orders inExpecting a gap fill. If the triangle is right, a breakout of that would signify a downfall
SLV XAGUSD Silver Rvalue TrendsTrends are trends ... don't fight them.
You trade by the second, scalp by the minute? Hold by the Day?
Then spot the trend the same way. Fit the R value, closer to "1" the better!
Then plan your price and watch the support resistance moves just fall in line to trace the trend again.
This plan had Rsquared above 0.90 for 21 days. Both the price pattern in Renko's and the Candles are valid. They show two sides of the same moves.
I used SD of 2.5 and then channels for the day were very clear.
Still see strong uptrends with sideways consolidations.
SLV XAGUSD
