Silver Charting and Silver TA Chat

gelxi said:
I must be honest and say that I am praying for a bullish reversal candlestick to be completed by day's end!
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Being long over the weekend would suck, poor anyone in that situation. The fact it is below 21.30 is VERY bullish IMHO... the fact it never tested $20 is the only hold back. Gold may go back and sniff @ 1320
 
trader10 said:
thatguy said:
dccpa said:
Looks like you didn't get that shorting opportunity. I was going to buy some protection Monday. :(
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yup jumped right over it... grrr
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Interesting times ahead.... something is on.. if it breaks $20 it will be an avalanche.....
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Speculation is that a trader got a margin call on a Yen/USD trade and had to dump a bunch of silver into a thin market.
 
gelxi said:
Must be a very rich trader this :)
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That was Zero Hedge speculation, but the market was very thin and right at support, so it probably didn't take much to start the plunge.
 
dccpa said:
gelxi said:
Must be a very rich trader this :)
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That was Zero Hedge speculation, but the market was very thin and right at support, so it probably didn't take much to start the plunge.
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True it wouldn't have taken much.
Regardless of how this was triggered, This will give us a chance how many bulls have been waiting at this level.
 
Nice observation thatguy regarding the increments in $2.

Silver is really the beast of volatility. It was only 3 months ago that it was trading above $30!
 
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That stoopid gap down really has me lost... back to the drawing board
 
Entry level (short) = 2295
Stop loss = 2325 (30 pips)
Margin required per 500oz contract = USD$166
Risk per contract = USD$150

Target = 2154 (from above chart)
Risk:reward = 1 : 4.7

Exit level = 2154 (stopped out)
Profit per contract = USD$705 = 425% :D

4088_silver2013520.jpg
 
yes I can help here,
The first one is a classic 'christmas cracker'.......trade promises a lot but delivers token gains.
The 2nd one is the 'double wick candle'....trade it at both ends but exit before getting burnt
The 3rd is the most dangerous....'the tom thumb'....shows a potential for quick profits but the trade is capable of blowing up in your face.

I hope that helps.
 
tolly_67 said:
yes I can help here,
The first one is a classic 'christmas cracker'.......trade promises a lot but delivers token gains.
The 2nd one is the 'double wick candle'....trade it at both ends but exit before getting burnt
The 3rd is the most dangerous....'the tom thumb'....shows a potential for quick profits but the trade is capable of blowing up in your face.

I hope that helps.
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:D laughing

















































...all the way to the bank
 
thatguy said:
Comments pls
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Don't do candles much either, but that is definitely a morning star.
The only pattern I really take note of are the engulfing patterns, and they are reliably scattered all the way through the silver daily. :)
 
wrcmad said:
thatguy said:
Comments pls
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Don't do candles much either, but that is definitely a morning star.
The only pattern I really take note of are the engulfing patterns, and they are reliably scattered all the way through the silver daily. :)
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And today we have one :)
My prayer for a bullish reversal pattern to end the day has been answered!
 
Just want to give a quick thanks to all that post on this thread. I know diddly squat about trading but like to look at the charts and read the knowledge that's posted here.

Thanks!:)
 
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