Silver Charting and Silver TA Chat
- Thread starter Azure
- Start date
^
Pls...we been at the bottom too long
Pls...we been at the bottom too long
wrcmad said:
Looks dire.
Oh well more buying ahead
Yeah by my count we could have a 1= 5 but with the impulsive nature of this move, seems bad.
Technically low was 18.21 USD next level below that looks on the surface like no man's land.
So not busted until a solid break of 18.21 and confirmation it's not a fake out.
Agree ^^^ Fib 2yr weekly, shows strong support here. If silver bust through the 18.20 support ... Hell, in no mans land.
Miloman said:wrcmad said:
Looks dire.
Oh well more buying ahead
Yeah by my count we could have a 1= 5 but with the impulsive nature of this move, seems bad.
Technically low was 18.21 USD next level below that looks on the surface like no man's land.
So not busted until a solid break of 18.21 and confirmation it's not a fake out.
Nice swing higher. Moving quickly through resistances, breaking through short term trend top very convincingly.
I'm sticking to my guns on the count if correct, nailed the low.
We now need to break this KEY area and we have more blue sky and sunshine ahead.
Exciting times people, exciting times!
dragafem said:
Lot of free info on the net about charting, e.g at stockcharts.com, Wikipedia, and just by googling terms. I suspect most are autodidacts like myself. Sometimes a trendline break is significant, sometimes its just another blip on the road to nowhere. Commentators sometime try to tidy things up by calling a break that goes nowhere a 'false break' - makes things seem less random.
A trend is an imaginary line joining the peaks or the 'troughs' of a price development over time. Price should touch the trendline 3 times for the line to be valid but this is a loose rule. It is quite strange how often prices obey these trendlines. A downtrend line joins the peaks of price, an uptrend line joins the troughs (lows) of price. When a price occurs outside the trendline you might see significance in that - why has the rate of ascent or descent of the price been broken?
It's not science, it's more tea-leaves and intuition and an effort to find form and make predictions out of chaos. Irresistible.
E.g. Google "charting" then the term:
Trend line, uptrend, downtrend, trend channel
continuation pattern, topping pattern, bottoming pattern
Somebody?
trew said:
Im not terribly familiar with this occuring, should I say yay yet or is it one of those deadarse cat bounce thingys?
dragafem said:
Basically, while breaking through any possible resistance levels between $20 - $20.50 with ease.
You can see that with a shorter term trend:
So now your next figure to look at is t$22ish I guess,2014 highs. If it fails to hold $20 though... then we go back to thinking about $18 silver.
