Silver Charting and Silver TA Chat
- Thread starter Azure
- Start date
Gunna said:
Hi Gunna,
The number of contracts traded... from sellers to buyers.
Even thought, when using charting tools and fin instos charting tools, they might not be 100% accurate.
Volume is a great insight for reference...
Read below for a better explanation:
http://www.investopedia.com/terms/v/volume.asp
The number of shares or contracts traded in a security or an entire market during a given period of time. It is simply the amount of shares that trade hands from sellers to buyers as a measure of activity. If a buyer of a stock purchases 100 shares from a seller, then the volume for that period increases by 100 shares based on that transaction.
Volume is an important indicator in technical analysis as it is used to measure the worth of a market move. If the markets have made strong price move either up or down the perceived strength of that move depends on the volume for that period. The higher the volume during that price move the more significant the move.
cheers
Trader10
Still short with multiple contracts. $23 is a key level for me. I will update tonight.thatguy said:Good work... congratulations, your posts have been most valuable as have the other contributors.wrcmad said:Yeeeeeaaaaaahhhhh baby!!!!! :lol:
Been waiting for this set up to fire for about 18 months, and the wait has been well worth it!
Patience is a virtue.
T/A has been totally validated yet again, the nay sayers can read it and weep.
Once completed, I will post the mechanics of the last couple of days trading.
If you don't mind me asking have you closed your short positions? Are you now long? Personally I closed out a few of my short gold last night, but am still waiting on 2130. Still not game to go long even at these prices. My entry point will be when the 18DMA is pointing up.
Please keep us posted wrcmad, gonna be fun on the way up
Trading the drop:
It has been publicised for well over a year that the $26 support was a key level, which if broken would make an excellent short trade.
Long-term support lines with constant testing like this one don't come along very often:
Entry level (short) = 2582
Stop loss = 2612 (30 pips)
Margin required per 500oz contract = USD$189
First target was weak support at $23.
Risk:rewards = 1:7.5 (they don't come much better than this)
Exit level = 2316 (stopped out)
Profit per contract = USD$1330 = 700% in 4 days.
This trade reduced the average buy price for my physical stack by around $3 per oz.
My average buy price for the last 18 months is now well under $20 per oz, and some purchases were made in the $30's.
I have said it before, and I will say it again:
Fundamental analysis approaches the price decision-making process by attempting to determine intrinsic value using available information, extrapolated by interpretation and translation which often contains a phsycological bias (eg. to da' moon). The problem with fundamental analysis is that it assumes information is disseminated perfectly and acted on rationally. Most stackers will tell you this does not happen in real markets (eg cartel), but ironically, their investment strategy is based on these two contradictory observations.
Technical analysis approaches the price decision-making process by examining the market for the instrument itself using data such as price, volume, open interest etc. It is not concerned with the value of whatever underlies the financial instrument, but with how the forces of supply and demand are impacting upon it's price.
In short: Fundamental analysis tells us what should happen to prices, technical analysis tells us what is happening to prices.
Ignore market forces at your own peril.
It has been publicised for well over a year that the $26 support was a key level, which if broken would make an excellent short trade.
Long-term support lines with constant testing like this one don't come along very often:
Entry level (short) = 2582
Stop loss = 2612 (30 pips)
Margin required per 500oz contract = USD$189
First target was weak support at $23.
Risk:rewards = 1:7.5 (they don't come much better than this)
Exit level = 2316 (stopped out)
Profit per contract = USD$1330 = 700% in 4 days.
This trade reduced the average buy price for my physical stack by around $3 per oz.
My average buy price for the last 18 months is now well under $20 per oz, and some purchases were made in the $30's.
I have said it before, and I will say it again:
Fundamental analysis approaches the price decision-making process by attempting to determine intrinsic value using available information, extrapolated by interpretation and translation which often contains a phsycological bias (eg. to da' moon). The problem with fundamental analysis is that it assumes information is disseminated perfectly and acted on rationally. Most stackers will tell you this does not happen in real markets (eg cartel), but ironically, their investment strategy is based on these two contradictory observations.
Technical analysis approaches the price decision-making process by examining the market for the instrument itself using data such as price, volume, open interest etc. It is not concerned with the value of whatever underlies the financial instrument, but with how the forces of supply and demand are impacting upon it's price.
In short: Fundamental analysis tells us what should happen to prices, technical analysis tells us what is happening to prices.
Ignore market forces at your own peril.
I'm not convinced of a long term bottom TG what do you like so much about yesterday's candle? The next trade setup I am really waiting for here (depending on how it gets to it) will be a short at about $25.95. First near hit of what is now mega resistance should bear fruit
Please no one follow me. I'm in silver, that in its self should say enough
Please no one follow me. I'm in silver, that in its self should say enough
I will be watching this too.upandaway said:I'm not convinced of a long term bottom TG what do you like so much about yesterday's candle? The next trade setup I am really waiting for here (depending on how it gets to it) will be a short at about $25.95. First near hit of what is now mega resistance should bear fruit
Note the 30min chart above shows MACD divergence - indicating a good chance of an upward retracement from the $23 level.
There is also Dukascopy:
Silver
http://www.dukascopy.com/plugins/ex...&data-unit-count=100&presentation-type=candle
Gold
http://www.dukascopy.com/plugins/ex...&data-unit-count=100&presentation-type=candle
The charts are setup for 1 minute updates, but can go to from 10sec - weekly with a bunch or different settings at the top of the page.
Silver
http://www.dukascopy.com/plugins/ex...&data-unit-count=100&presentation-type=candle
Gold
http://www.dukascopy.com/plugins/ex...&data-unit-count=100&presentation-type=candle
The charts are setup for 1 minute updates, but can go to from 10sec - weekly with a bunch or different settings at the top of the page.
Top stuff wrcmad!
The bigger picture, from my point of view
We are being protected by very long term .618 retracement at $20.00~$21.50 (it is also a long-term previous high). There is also a support at the bottom of the upward channel.
This is why I see much more upside than downside from here on in.
We are being protected by very long term .618 retracement at $20.00~$21.50 (it is also a long-term previous high). There is also a support at the bottom of the upward channel.
This is why I see much more upside than downside from here on in.
Here's what I mean... Bit of a hammerupandaway said:I'm not convinced of a long term bottom TG what do you like so much about yesterday's candle? The next trade setup I am really waiting for here (depending on how it gets to it) will be a short at about $25.95. First near hit of what is now mega resistance should bear fruit
Please no one follow me. I'm in silver, that in its self should say enough
we will test the lows again I think... if not actually get to 21.30ish
fiatphoney
New Member
I saw some get sold out on that tail stop loss harvest.
I couldn't play the paper myself, though charting is interesting.
I am a simpleton. Seven sigma moves, c'mon.
Once the margin calls are over you might as well throw darts for the next three months.
I couldn't play the paper myself, though charting is interesting.
I am a simpleton. Seven sigma moves, c'mon.
Once the margin calls are over you might as well throw darts for the next three months.