Silver ~ Is this top lasting?In EW speak, this is still a bullish chart. So long as the blue box region holds, there's a chance to reverse higher soon. Don't want to see it lose that major support zone in red down below... tick tock.
SIL1! trade ideas
Silver Sammy's video September 30th 2024 up Sammy's video.... I've forgot Bobby's name. I'm going to be doing these depending on 10 minute get togethers where Sammy shows me his computer and I see that he made an effort to draw some lines. I am going to try making these videos shorter than 30 minutes....... but I am promising Sammy that our little get-togethers are not going to be longer than 10 minutes..... which will be better for both of us. as long as Sammy has a sit-down with me so I can see what he has on his charts.... a signal to do another video. as long as he does his homework I'll give him 10 minutes of time.
Silver's Roll Premium CrushSilver
Technicals (December - Z)
Silver's pullback aligns with the roll from September to December which carried a hefty premium 40 cents.
Silver futures corrected over 2% in the overnight session after analyst downgrades of the Chinese economy weighed on Copper prices. Futures will need to remain above 28.66 to keep the bullish theme alive. Any close below that level opens the door for another retest of the 200 DMA.
Silver (Dec)—Daily stochastics are correcting from overbought territory, indicating the market may be starting to correct. DMI - above DMI +, and the ADX is declining, indicating the recent rally is losing steam. The average true range (ATR) is 84 cents per day.
For Trend Traders
Bias: Neutral
Bull Trade Trigger: 30.545
Bear Trade Trigger: 28.665
Resistance: 30.565***(Bull Trader Trigger), 32.00-32.50****
Pivot: 29.78 (50 DMA)
Support: 28.66** (Bear Trade Trigger), 27.38**** (200 DMA)
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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.
Technical Analysis of Silver Futures (MCX) - 4H ChartSilver prices are approaching critical levels, with the price currently hovering around ₹90,080. Recent price action has shown a breakout from a descending wedge pattern, signaling potential bullish momentum ahead.
Key Observations:
Wedge Breakout :
A classic descending wedge pattern has been broken, indicating a shift in market sentiment toward bullishness. The breakout, accompanied by strong volume, suggests further upside potential if the current momentum sustains.
Fibonacci Extensions & Resistance Zones:
The price is testing the key resistance zone around ₹90,332 , as seen from the Fibonacci extension levels.
A further breakout could push prices towards ₹92,497 , followed by ₹94,477 in the near term, with the ultimate target around ₹96,274.
Volume Profile: The volume profile shows significant accumulation between ₹85,816 and ₹90,332 , making this range a pivotal area for price action. A sustained breakout from the current level could lead to further bullish momentum, while rejection may see prices retracing back toward ₹85,816 .
Measured Move Target: From the wedge breakout, the measured move points to an 8.5% potential gain, with a target price of ₹94,477. This aligns with the key resistance zones visible on the chart.
Bullish Momentum : The recent bullish momentum has pushed Silver futures above several key moving averages, confirming the shift from bearish to bullish sentiment.
Conclusion:
With the wedge breakout and price testing key resistance levels, traders should monitor whether Silver can hold above the ₹90,332 level for confirmation of further upside. If the resistance is breached, expect a rally toward ₹94,477 and beyond. However, failure to hold this level may see a pullback toward ₹85,816.
101 Silver Guide.Hello, We will be focusing on futures since most of my cx portfolio is futures.
We will focus on the uptrend then short afterwards.
I hope the chart is clear enough, entry and exit positions are safe for now. I will keep updating.
Do not hesitate if you have any questions.
COMEX:SI1!
Cup and Handle Setup in SilverSilver has just formed a Cup and Handle pattern, suggesting it may begin trending significantly higher soon.
This pattern is very similar to what we saw with Gold at the end of last year, where we also discussed the Cup and Handle set-up. At that time, my projection for Gold was that it would start trending much higher soon. From USD 2,000, it has now reached around USD 2,600, with more potential upside to come.
Micro Silver Futures
Ticker: SILZ4
Minimum fluctuation:
0.005 per troy ounce = $5.00
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time 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
SILVER_GETTING READY FOR LONG Hello, I have tried to explain view (long term) on silver.
I have used Support & resistance level, candle stick pattern, moving average & elliott wave analysis to explain projections on silver.
I hope, i have added some point of view in understanding movement of silver in upcoming days.
Thanks for watching
Oil dxy silver Etc9.13. 24 in this video I talked about a few markets some which are not notated on the caption above but you'll see them in the video..... and I spent more time talking about issues with regard to maximizing your return when it makes sense.... because it's not just minimizing losses. it is also minimizing reward when it makes sense... and both of these issues make a huge difference in your results as a trader. Sometimes you can get into a market that has made you such a good return... you don't really want to get out of the market because you don't want to pay the taxes... and you think the Market's going to go higher anyway even if there are some downward Corrections. that concern is what I'm talking about when I'm trying to manage the the metals since short-term trades on the paper Market are relatively small compared to the long-term markets that have much greater cost of to the paper Market It is about the metals but the paper Market is a different Market than the physical Market. I didn't emphasize it on the past few videos but it's important to know with the markets that I am talking about... these markets are very active and they produce significant range and swings for buyers and sellers and it won't always be that way markets that have good range and opportunity sooner or later will contract and it will be very hard to make money and it contracted Market whereas if you know how to trade markets because you know how to handle more volatile markets that is where you will make your money because expanded markets if you know how to evaluate them is where the money is. I think generally The General markets will go lower because I think we'll have a crisis as it will relate up to the underlying vulnerabilities of the US dollar and this could have a substantial impact on the equities Market even though there will be some very bullish Futures markets. right now in the markets that I'm focused on you can trade it as a buyer or a seller if you know how to handle a market differently when it's an expanded Market as opposed to a contracted Market... as long as you recognize that contracted markets are always Limited and they are not the best markets and frankly from my point of view contracted markets are too much work. I see this as a special time to trade even though I don't trade most of this stuff like the dollar or the equities markets....
The ART of sitting ON YOUR HANDSI was not always a bear... but my arms are tired of holding these Silver Bags for over a decade. I am still bullish! In the long long term ( ;
I am still holding a longterm SILJ short position ( see previous post ) but the immediate future is not clear. Will we get an explosive rally leading up to... during... or after the FOMC? I would not bet on it. The truth is however that nobody knows. As Ray Dalio says, "He who lives by the crystal ball will eat shattered glass"
The next few weeks will provide a challenge for market timers and speculators. I expect plenty of whipsaw and broken hearts before a trend is established (bullish or bearish).
I am waiting for a break of 29.83 to become a Bull and enter Long
I am waiting for a break of 26.67 to become a Bear (a big one) and enter Short
I strongly recommend waiting for a daily close over these levels before getting to comfortable unless you are prepared to keep a tight stop and run for the hills if either of these breaks turn out to be a trap.
Until then this range (in between the two levels will provide plenty of juicy scalping opportunities for cowboys like myself. I am using the .382 Fib level 28.10 (derived from the Oct 23 Low to the High in May 24) as my guiding light and BABB (Bullish above Bearish below) in the interim with TPs at my key break levels. They will be formidable resistance/support zones until broken and proven otherwise. Happy trading!
Crude oil9.12.24 this video is a follow-up of yesterday's video showing what I thought was a manipulation in the market to attract sellers in a market that was about ready to go higher. I Define it as a bear trap but I'm not sure if that's what the official name would be. up what's more important is to know what a market looks like that can adversely affect your trade which is good for some Traders but not for you. normally I would categorize it as a relationship between smart money and fast money Being less skilled Traders. when a personal basis I don't think of myself as fast money or smart money... I just want to know where my risk is and whether I should be a buyer or a seller and I have to calculate at least a reasonable Target and then I know basically what the support and resistance is and the risk as it pertains to the reward.if you really trade you will have experiences where the market scared the heck out of you but didn't get to your stop but you got out because something scared you about the marketand then the market goes $4000 in your direction but you got out first. Last week I was talking about markets that were moving higher when they should probably be going lower and we did that with a few markets including the S&Pand I think we did that with an early version of oil if I'm not mistaken. there is always the possibility that the market can give you a point of view that's going to turn on you and completely change your opinion and my belief is a lot of these special trades that trigger incorrect decisions from you are at least partially contrived to get you on the wrong side of the market. In the video I started talking about trading very small time frames and I regret doing that because it wasn't pertinent to what we were doing today and yesterday. but since I mentioned the 1 hour chart which I consider a small time frame, the other problem with it is that you're going to trade with more frequency and every time you take a trade you have to work with the spread between you and the clearing firm and that cost can be fairly expensive especially when you're trading for very small profits SO trading very small time frames have significant risk and are prone to cost you more money than you realize,whereas if you take in your long position in oil when the market started to turn higher with the plan to stay in longer this is when you can make 3 to 1 and greater trades even when you have small risk and you have a way of avoiding the risk but you can stay in for five to seven$1000 trades with a small risk.
SILVER - Symmetrical Triangle PatternSilver Update (December) - Symmetrical Triangle Pattern
Pattern Forming: Silver is currently forming a symmetrical triangle, signaling a potential breakout in either direction.
Bullish Scenario:
Break Above: 84,780
Bearish Scenario:
Break Below: 84,050
Both breakout directions could offer 800-1,000 points movement. Watch for confirmation before entering trades.
Risk Management: Use appropriate stop losses.
Disclaimer: This analysis is for informational purposes and not financial advice. Trading involves risk.
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INVERTED CUP AND HANDLE IN SILVERSilver (XAGUSD) 4-Hour Chart Analysis
Pattern Formation: An Inverted Cup and Handle has formed, which is typically a bearish continuation pattern. This suggests a potential decline in prices if the pattern completes.
Breakdown confirmation: Price is currently below the critical level of 82,290. A break below this support can confirm the bearish signal and lead to further downside.
Expected Movement: Based on the pattern, anticipating a potential 400-800 points movement to the downside if the price sustains below this level.
Risk Management: Consider placing a stop-loss to manage risk.
Disclaimer: This is a technical analysis based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.
IF THIS WILL HELP YOU PLEASE LIKE THE POST ❤️
oil ES silver and other markets September 4th in this video I reviewed several of the markets that I talked about yesterday and and earlier than yesterday and these are making some very nice moves consistently with the patterns we are looking at such as ranging markets and ABCD patterns and it's a specially useful when you judge how markets Gap and how the market retest the gaps.
Silver little bleak and weak now, but will shine later and how. Shadow of Silver today is greyish. As if the fading moon after a full moon day. Silver may consolidate between 82 to 78K levels. If 78K is broken by any chance, the threat of it falling to the levels of 65-68K looms large. If it reaches 65 to 68K level by any chance, Silver become a must accumulate commodity. On a long term time frame (14 to 28 months) Silver looks all set to cross 100K mark. If there is some global event that bring uncertainty, Silver can reach 100K sooner. Keep Watching this commodity. It is an accumulate at lower levels.
