Silver Charting and Silver TA Chat

uuuuuuuumm said:
price is driven by people hitting computer keys trying to make some money, has nothing to do with silver, silver is just another chart, these people have no interest in stacking silver.

its just a means to an end.
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Most transactions in any market occur or are driven, at least on one side, by people trying to make some money - there is no other purpose for a transcation.

hawkeye said:
uuuuuuuumm said:
the guys playing with big bucks that make big $ on a 1 point move care not about silver, its a good market for the big boys to gamble in because it moves and fast.
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What does not caring about silver mean? Does anyone here really care about silver or is it just a means to an end? I've heard numerous people talking about ultimately swapping silver for property.

Would the majority of people care about silver if it was steadily dropping in value instead of increasing?
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Agree. I don't really care much for any chunk of metal - it is ultimately a means to an ends..... to (hopefully) improve my financial position.
 
all true :)

i wont say what i really think about western cultures it will really hit the fan then :D and i include myself in the equation :D
 
dragafem said:
the question is,is it gonna go any lower? please, those guys whos watching them charts(and understand them) give us some indication:)
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Silver I am happy with being a near 50% fib retracement. Gold is the sticking issue... stuck in no mans land @ 1677 would be a strange turning point, 1666ish is more logical meaning more downside... FWIW. BUT anymore downside on silver is bearish... go figure. USD index is at fib resistance levels aswell
 
1021_usd_index_fib_resistance.png
 
I jumped in with a small long at 31.10 and added another couple of larger positions on the trip down to 30.70, took some profits off the table this morning - what a lovely surprise to wake up to that was :)
 
thatguy said:
Will we see resistance @31.55? I think not
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Nope, not resistance - but support :) Maybe see a rollover now to the downside at 32.15.

If it keeps rising and takes out 32.45 (0.618 Fib), then perhaps price may test 33.01 for a run down to - dare I say - the sub $30 zone ($29.75).

Time will tell
 
Let me give this a try...

If the next move turns out long...

15min Fib(ext) says resistance at ~32.81
240min Fork says resistance at ~32.81
Daily fork say resistance at ~32.81

Therefore I am taking profits at 32.81
This is kinda fun..lets see if it will work out.
 
Hi All,

I take a more long term perspective than the day traders, but I was curious to get your feedback on some of the simple trends in the charts. I was wondering if a log chart would be more suitable for longer term TA? Here are some of my doodles in excel.

Log Chart:




Linear Chart:

 
zygote said:
Hi All,

I take a more long term perspective than the day traders, but I was curious to get your feedback on some of the simple trends in the charts. I was wondering if a log chart would be more suitable for longer term TA? Here are some of my doodles in excel.
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Nice netdania is good for playing :)

Redwood On TFmetals said:
Just a few things that are probably obvious but worth stating nonetheless.

1. Metals have decoupled from the dollar.

2. Miners have decoupled from equities.

3. Metals appear to have completed their correction with gold heading to 1800 and silver heading to 35 as probable minimum targets for year end.

4. Given closing patterns I think we'll see lower prices in the am, but afternoon is another matter since it is Friday.

Hope everyone had a good trading day today.
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Interesting times
 
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