Silver Charting and Silver TA Chat

thatguy said:
That was fun
Click to expand...

I woke up and realised that my buy order missed out by 1-0.5c. The problem with this rally was where it stopped.
It stopped at a previously strong support all the way back from Dec 2008.

5568_svr_2_mar13.png


I am going LONG.
Entry 28.00
Stop : 20c (very close from being tripped)
1st target and 2nd target in black circles

5568_svr_mar13.png
 
Wrcmad,

Thanks again for introducing me to CFD and the world of trading. It has been a roller coaster ride for me in my first year. It has been a painful but rewarding journey. I only wish I have the initial discipline to follow your guidelines to the T. It is one thing to learn and do 'excel' trades but it was a completely different thing when trading with real money.:)

Any newbies wishing to trade, i suggest you follow the link above and study it very well and follow it! There was a time when I was right 9x in a row and my 10th trade wiped out all the gains and more! so please follow it well.

I might want to add one more advice to any STACKERS who might wanna learn to trade......DONT LEARN TO TRADE WITH SILVER! Why you ask? As a STACKER your EMOTIONS will GET IN THE WAY!. Go and learn to trade with Forex, preferably a currency you give peanuts about and again make sure you follows Wrcmad's guidelines in the link above. Should you still want to learn to trade with silver, then follow my one last advice...

So what if there is QE~, so what if Russia wants the gold, so what if india is buying tons of gold, so what if germany can only get back a small fraction of their gold back each year and an even bigger so what if China is importing high 100's TONS of gold in 2012. It doesn't matter. Why again? Because there is a HELL LOT MORE Paper traders (managed fund with deep pockets) out there that will trump all the the physical buying from all these countries. And these paper traders work off the technical picture.

The only time when it matters is when the western central banks, bullion banks, COMEX, LBMA, SLV and GLD ran out of gold OR fail to deliver a PHYSICAL allocation. Until then PM will be based on the technical picture and not the fundamental. The BRICS can send the price of silver to the moon, but it would not be practical to do so, as they want as much physical as they can get.

If you are still stacking, I would use the technical picture to BTFD.

Sorry for being off tangent, but i thank you again Wrcmad. It has been very rewarding.
 
I have updated the long-term daily chart on the homepage again for those that are interested in having another look.

And while I was at it I have a snapshot of the indicators I look at on a periodic basic and what I'm reading into them right now...

87_chart-a0313.png


As you can see with the top graph of the rsi, it looks as though it has just come out of the bottom of the channel which has a tendency of making a period high->low->high patterns. I generally read this currently as a bottoming indicator, but look into the stochastic rsi (bottom graph) for a sort of confirmation if you will...

With the stochastic rsi in the bottom it looks as though its starting to climb. This graph is (obviously) highly volatile and almost 'sticky' at the top and bottom: I read this as a short-term bullishness/bearishness indicator that might confirm a change in the trend when measuring the rsi (top graph) coming off of highs and/or lows.

The main chart has our brollinger bands that show we have come back into the channel (a good sign i believe... 8-) and it looks like we have our first dot below on the sar, hopefully indicating the beginning of a reversal.

Anyway I could be wrong, but I get to read all of your commentaries so I figure I'd share my own.

Cheers,
Azure.
 
Did any one here noticed something very, very interesting with silver last night with NFP? Bear in mind that NFP# was huge!

Silver went to the low of the day and went straight to the high of the day in less than two hours. Technically or fundamentally or which ever language we wanna use...it is VERY bullish to me.

Am I right here or am I wrong?

Anyone care to explain? I only have my suspicion.

This does it for me in confirming that we have reach our bottom for this round and higher prices ahead.
 
SS said:
Did any one here noticed something very, very interesting with silver last night with NFP? Bear in mind that NFP# was huge!

Silver went to the low of the day and went straight to the high of the day in less than two hours. Technically or fundamentally or which ever language we wanna use...it is VERY bullish to me.

Am I right here or am I wrong?

Anyone care to explain? I only have my suspicion.

This does it for me in confirming that we have reach our bottom for this round and higher prices ahead.
Click to expand...

Only problem I see is that we saw similar things happen in the last two "bottoms" around the 31-31.5 level and the 29.5-30.5 level...it can look like a bottom for a while but until we see it break 32 and hold, I won't feel 100% about it.
 
Dustin said:
SS said:
Did any one here noticed something very, very interesting with silver last night with NFP? Bear in mind that NFP# was huge!

Silver went to the low of the day and went straight to the high of the day in less than two hours. Technically or fundamentally or which ever language we wanna use...it is VERY bullish to me.

Am I right here or am I wrong?

Anyone care to explain? I only have my suspicion.

This does it for me in confirming that we have reach our bottom for this round and higher prices ahead.
Click to expand...

Only problem I see is that we saw similar things happen in the last two "bottoms" around the 31-31.5 level and the 29.5-30.5 level...it can look like a bottom for a while but until we see it break 32 and hold, I won't feel 100% about it.
Click to expand...

What I meant was the bottom for this 'round'. It won't drop to 26 from here. Higher prices to the next resistance at 32 where I will take profit. Once reach 32, I have no idea where it will go. My guess is that we will have a 'fakeout' and then fall back down to where..I don't know...hopefully to a higher support level as I am guessing from my chart a few post up.
 
Bollingers squeezing again. Mixed chart signals have me a little hesitant? But price action and bullish divergence suggests up. Maybe back to $31. :/

4088_silver20130311a.jpg
 
Bollingers very tight on the daily, MACD divergence, Bullish wedge, bounce off bottom channel line, and Cyprus imploding...
All pointing up.... we will see.

4088_20130317.jpg
 
1021_march1.png

got short just at the latest spike... tight stops... could be due for lift off or crash soonish. High 30s should be interesting
 
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