QI1! trade ideas
Commitment of Traders defined "wake up jolts"Silver Future's Weekly Log Chart and non reporting COT data, combined with periods where silver dwindled below it's 200 week moving average...
Some nice signals that generated 106%, 409% and 462% moves.
Silver follow trough buy Silver looks bullish.. Silver break its downtrend and now small bull flag making in the process. Expecting above 24$ tgt 28$++
Silver: Perfect Hit! 💯💯💯The silver price hit the target of the countermovement at $24.54 perfectly. Now, in order to also continue this perfect movement, it needs to fall. Overall, the price should approach areas below $18.82. Another increase has a probability of 35% and would need the silver price to surge past $24.94 to realize.
Happy weekend!
Silver breaking back to upside after a spring in trading rangeSilver has been in a long consolidation range after it's initial jump from march 2020... this could hopefully signal the final bottom but maybe we are just in a holding pattern until stocks loose steam early next year?
Cup & Handle Breakout in SilverSilver prices broke out above the neckline of a cup & handle pattern, As per the pattern formation Rs. 66300 is expected target
Inverse Head & Shoulder in COMEX SilverPrices have successfully broken out above the neckline which was placed at $23.30, As per the pattern formation $25 is the expected target
xagusd longafter stopped out, re enter at 23.54 buy stop to target 24.46 highly likely target of head & shoulder
Silver preparing to have a popHovering around the diagonal resistance line, ready to pop above it. Silver has been due for a while now, but looks like the time is very soon.
A practice in hindsight charting... part IIAnd here is silver's epic move played out... never quite as imagined.
A practice in hindsight charting...Silver Future's Quarterly EPIC breakout from Q1 2004...
What if I was the same charter I am today back then, would I of seen the epic move about to unfold?
Silver is Ready to Reverse Downward trendSilver seems to be left behind amid major interest for crude, aluminum and natural gas. While silver prices are ending the week with quite a strong upside move showing intentions to leave a downward channel that has been forming since June 2021.
Let’s take a closer look at the silver price chart and start with the “Morning star” candlestick pattern that has been forming on a weekly timeframe chart for the last five weeks. In this pattern the “Morning star” is presented by three candlesticks in the same area. And this pattern is formed close to the strong support level at $22.06-22.12 per ounce. This support level was confirmed in September and November 2020.
It is worth noting that the downward movements since September 7 have been in a form of a downward wedge that is considered as a reversal pattern. Moreover, the resistance of this pattern is already broken to the upside. Considering the height of this wedge, we may have $24.84-24.94 per ounce as a target for silver prices. The second target, considering the width of the wedge, may be projected at $25.60 per ounce.
At the moment silver prices are trying to break the resistance of the 4.5-month downward channel. And for this to happen prices should reach $23.90 per ounce.
We may see multiple technical upside signals on the daily and weekly timeframe charts.
My forecast is that silver prices may reach even $26 per ounce in the coming weeks to meet the resistance line formed by January and May peaks. If the $26-26.30 landmark would be broken we may have room for further upside movement to $29-30 per ounce. In this case, the upward trend would be established and we would have an upside movement to the height of the consolidation that started in June 2020, and that would guide us to $36-37 per ounce.
James Anderson, Chairman and CEO of Guanajuato Silver Company suggests that silver prices may reach $40 per ounce by the middle of 2022. "If we have a weak economy coupled with a drive towards needing and using more silver, you're going to have base metal mines shutting down that produce silver as by-product, just as an enormous demand for silver comes to the fore," he said. "In that environment, you could easily see silver go to the $40 price range. But it is more likely we will see silver at $30 before it hits $40. I can see it hitting $40 halfway through next year."
Russell2000 Silver10.13.21 Russell is contracting. What happened in silver over the past 2 1/2 days is very important, it is very important to think about how you could've made improper trade decisions if you had not made certain evaluations in real time to guide your decision as to whether you would stay in a market or trade out of that market. In very simple terms, if you find yourself exiting a market when you are along and you want to avoid loss, but the market actually stops and read verses at the very area you were closing your long position, you really have to study why your perception was that the market is going lower when in fact it went higher. Two days ago I was about to tell you to get out of a profitable trade to avoid loss, and that could be a sensible decision if your primary concern is fear of loss... but it's really important to determine if you ever looked at the market more objectively... to think back and ask yourself if you really notice that the market was at support and was potentially still supported by buyers... which turns out to be the case. It is important to recognize that there is such a thing as "errors in judgement", and that this can be due to you failure to recognize what you needed to think about because of your biases....regardless whether you make money or not.
alterative way to read the market and respond to it.10.12.21 This is a discussion of how to overcome some of the psychological challenges in a market that is taking away profit, and processing actual information from the chart to manage our trade decisions more effectively. I believe this is something that doesn't come naturally, and that this is due to the stress from potential loss, and the inability to characterize what's going on in the market more objectively. In other words more objective analysis can minimize overwhelming fear of loss and allow you to be less impulsive, and to even be more strategic... and actually think like a buyer and the seller when the only thing you would do in the past would be to be a buyer or a seller. The silver chart is the example.
SLV Longterm TrendThis can take a long time as this is on the monthly chart. Maybe 3-6 years or something. There is some symmetry here and what looks like the start of a new uptrend. As long as the trend will continue we will reach these targets.
$si $silver another leg down expectedDownside expected for Silver
Silver should be heading down towards the 19.60 level.
It has gone 26 days down and 9 days up to 50% level.
a good entry for selling would be below the oct 8 bar.
Silver isn't as volatile as gold in terms of prices and you won't experience the wild swing in gold as seen on Oct 8
I am expecting gold down as well around Oct 13
Silver: Landing! 🪂🪂🪂The bearish trend continues for the silver price. As long as the price remains below $24.94, we expect it to decline further. In total, the silver price should fall below $20.54.
Be patient!
