SLV trade ideas
OPENING (IRA): SLV NOVEMBER 20TH 18 SHORT PUT... for a .46/contract credit.
Notes: 30-day at 52% with expiry-specific implied at 55.4%. Adding to my SLV (See Post Below) to establish a precious metals position in my IRA that is more scalable than GLD. I'd ordinarily ladder out here, but there's no December monthly.
Break even: 17.54.
SLV - one possible wave countDear EW experts, please chime in with your insights for our members here. The count since the July take-off seems reasonable to me as one scenario. Appreciate everyone's feedback/insights.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Silver Trust SLV updateHit my target for this correction. Expecting ~20 right now. More bullish above ~22.85
silver at critical level 61.8 FB retracement level. if this level hold it would be the completion of the wave 2 since the take-off.
SLV support at 20.96 (61.8% of the FB retracement, wave 2 correction normally would end at around 60% retracement)
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
This represents a serious breakdown for silver (SLV)As I expect many others have commented on, this breakdown from the consolidating triangle bodes ill and represents the correction and reversion to mean I've been expecting in precious metals. I am still very bullish long-term but please watch the cup and handle pattern in gold to ensure it sticks, otherwise something more serious is afoot. What worry's me also is the shortness of the tail so I definitely expect this to fall further!
$SLV - Pennant on Daily Resolved Bearish ! Headed Much Lower !As we can see from the above daily chart of the Silver ETF, the nail biting pennant that has formed over the past few weeks and kept us all on the edge of our seat - along with GLD - has resolved bearish with todays move. Target is $18 - $19.
SLV - Coiling BreakdownIt looks like SLV broke down and closed below the 50 day MA. This is exactly why you always wait for confirmation. I think this could setup a really good buying opportunity in the near future but we will need to wait and see where the price action takes us.
Good Luck!
SLV - Correction ScenarioBasic assumption is that we are in correction phase with higher prices to come. Will be watching premiums on physicals. If those retreat any, I'll add.
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
