Silver Ready For Fish Pattern Breakout... pattern invented by meYou can trade any side breakout with proper SL n Target...
SIL1! trade ideas
Silver Floor @ 22.850
Huge selloff of Silver in the early market hours prior to FOMC Meeting Minutes release
Price action hit confirmed demand zone
Also confirmed by timing on DXY in Supply Zone/Strong Resistance
Commodities in general have been becoming more expensive generally(Check Commodity Indices like CRB)
Oil Dxy Silver2.19.24 In this video I was trying to make a decision with regard to direction for the dxy which affects silver if one goes up the other goes down.... and I was trying to make a decision as to whether or not I would stay in a long position in oil if my trade was profitable already where would I just get out of a long position in oil. since it's close to midnight I'm going to post this. I think that the silver is tougher to decide....But I would probably stay in the oil market if I was long and still maintained that position.
Potential Short.
With an understanding that the price is within the resistance zone around 23.5, there is a likelihood of a correction occurring before the price moves higher. After reaching the highest resistance level at 23.70, there is potential for short-selling, with a swing zone between 22.5 and 23.1. Following that, the price may reach support at a strong level around 22.96.
So, the potential sequence of price movements is as follows:
The price enters the resistance zone around 23.5.
Correction occurs after reaching the highest resistance level at 23.70.
Potential for short-selling emerges with a swing zone between 22.5 and 23.1.
The price is likely to touch support at the strong level of 22.96.
DeGRAM | Silver fibo inversion tradeSilver pulled back to the resistance level following the double bottom.
If the market fails to break through the resistance and fibo inversion levels, we can sell from the kill zone.
We anticipate a short-term pullback since the market overall is in the consolidation zone.
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SILVER FUTURES Stock Chart Fibonacci Analysis 021224 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 23.2/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
DeGRAM | Silver a trend continuation opportunitySilver dropped from the resistance, and it created a descending channel.
Price action created a resistance and a 61.8% fibo level as confluence zone.
If the market fails to break through the resistance level , we can sell from the confluence level.
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[MCX] Silver Low risk BetNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives
Silver at An Inflection Point!Silver is currently at an inflection point. The industrial/precious metal has held major support as of late, adding a layer of optimism to traders and investors alike. Moving forward, we will need to continue to hold this major support level to keep our optimism intact.
Headwinds:
This week will be an inflection point for the silver market. Not only are we hovering right above support, but the 50-day and 200-day EMAs have converged, adding a 'wall' of resistance that is imperative to break through.
Why is this week an inflection point? This week entails the release of many labor market data points, including JOLTs, ADP Nonfarm, NonFarm, The Unemployment Rate, and Average Hourly Earnings. The labor market has been extremely resilient despite economic growth concerns. If some of this data comes in weaker than expected, it is likely we would see a repricing of interest rate cut expectations, fueling the metal's momentum to the upside.
Chinese Economic Rebound?
China is the largest consumer of silver globally. A rebound in the Chinese economy will be imperative. The PBOC has already taken drastic monetary accommodation measures by cutting interest rates. If conditions can stabilize, this will be a bullish tailwind for Silver. Silver is currently holding above support despite weakness in China. This is very encouraging to see, leading us to believe that the worst of the Chinese economy is already priced in.
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Silver's Resilience: A Compelling Bounce BackSilver, often recognized for its resilience in the commodities market, is currently staging an impressive bounce back, creating a compelling narrative for traders seeking long-term opportunities. This resurgence in silver's performance holds promise for those looking to capitalize on potential upward movements.
The recent bounce back in silver reflects a renewed investor interest and confidence in the precious metal. As market dynamics evolve, silver has demonstrated its ability to recover from recent downturns, signaling a potential shift in sentiment and paving the way for long-term trades.
Investors considering long positions in silver may find the current bounce back appealing, as it aligns with the metal's historical reputation for serving as a store of value and a hedge against inflation. The resilience displayed by silver in the face of market fluctuations underscores its potential as a viable asset for long-term investment strategies.
However, as with any trading decision, it is crucial for participants to conduct thorough research, considering both technical indicators and fundamental factors influencing silver's movement. Understanding the broader economic landscape, global trends, and geopolitical influences can provide valuable insights for those seeking to leverage silver's bounce back for long trades.
Prudent risk management remains imperative in commodities trading. Monitoring market conditions, staying informed about relevant factors affecting silver prices, and aligning positions with individual risk tolerance are essential steps for those considering long trades in silver amid its current bounce back. Seeking advice from financial professionals or advisors can offer valuable insights tailored to individual investment goals and risk profiles in the context of silver's resilient performance.
SILVER FUTURES Daily Technical AnalysisSI1! Daily - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines, Cluster, Confluence, Rectangles, Pitchfork, Modified Schiff Pitchfork, Fibonacci Extension - Hope it Helps, Good Luck
DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
Major Overhead Resistance for SilverSilver futures have faced challenges in the new year, but the market has established higher lows, instilling a layer of optimism for the precious metal.
Like all risk assets, silver will continue to be susceptible to changes in interest rate expectations and the path of the Federal Reserve. Recently, the bond market has tempered its expectations of an interest rate cut in March, with probabilities now ranging from low to mid-60%, compared to expectations as high as 80%+ in late December.
Comparison of Fed’s Interest Rate Projections to Market Expectations:
The latest Summary of Economic Projections outlined the Federal Open Market Committee's (FOMC) expectations for the path of interest rates in 2024. Median estimates anticipate a terminal rate of 470-475 basis points (75 basis points of cuts) by the end of 2024.
Current market expectations are pricing in a terminal rate of 395 basis points (125 basis points worth of cuts) by the end of 2024, reflecting 75 basis points more in cuts than the Fed's latest median projection.
For the market to align with this interest rate trajectory, a significant downward trend in inflation or a slowdown in growth would be necessary. Otherwise, we might witness the bond market realigning expectations, converging with the Fed’s projections and posing a headwind to risk assets like silver.
Technical Analysis:
Silver encounters significant overhead resistance from 23.50 to 23.75. To observe more momentum and conviction, a break and close above this level would be required.
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
DeGRAM | Silver at the reaction zoneSilver dropped from the resistance and broke the lower border of the descending channel.
If we look closely, we can see that the price is near the reaction zone. It bounced off this level multiple times.
If the market fails to break through the resistance level, we can sell at that level.
We anticipate a breakout of the channel and further bearish moves.
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Share your opinion in the comments and support the idea with like. Thanks for your support!
