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Silver Monitoring Thread $ (USD) only


ChrisSilver
Message added by ChrisSilver

To discuss the price action of silver in £ GBP instead please see here: https://thesilverforum.com/topic/368-silver-monitoring-thread-£-gbp-only/

 

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On September 1, 2019 at 06:43, MikeInTexas said:

There are a few of us here who have been "stacking" over a long period of time. Some of my stuff, I bought in the 1980's and 1990's when silver was $6.00 to $9.00 per ounce. And even these past few years, with the ups and downs, I paid as high as $22.00 per ounce including premiums. A Dollar Cost Averaging strategy. I have sold very little, and today, the stack gets bigger. I am not stacking silver as an investment. I am stacking to preserve my wealth, against a changing economy. Look into what the price of gold and silver have done in Argentina, as their currency has crumbled because of bad inflation. Look at Venezuela, their currency is garbage. Their Government hates the idea that the citizens are using American dollars in what the govt says is 'black market' trading, but all it really is, is people trying to buy food and necessities. There are even a few old silver coins being used. And we have all seen these past few months.. silver at $14.50, and YES...I did buy at that level.. and even this past Friday, I bought 2019 American Silver Eagles 1oz at $21.50 each. I bought nearly all the 2019's the dealer had in stock, as he was waiting on big boxes to arrive for his customers. When the spot BID/ASK prices in New York City, London, Hong Kong and Australia get above $25.00 United States Dollars (USD) per ounce, I will just set aside some mad cash, should the spot prices drop suddenly. Which is like going shopping, and everything is ON SALE! If the metals do sky rocket, don't panic, wait and see, because you had already been stacking, which is more than the rest of Americans are doing. Some people buy brand new cars and trucks, waisting their capital, and others are stacking gold and silver, preserving their buying power. Something I keep in my mind is, if I had bought a 10 oz bar of silver at say $9.00 per ounce with a premium of $1.50 per ounce over the spot price, and silver later moves to say $18.50 per ounce, and I sell that 10 oz bar for $185.00... now what do I do? Put the cash in a bank, where it does not do anything? Look at history, back in 1979, inflation was at near 18%, home loans were at 12% to 16%, and silver and gold went way up! It was because the dollar was losing its buying power. SmoggyPluto, you are off to a good start! Keep stack'in!

Have been putting small sums of savings aside for times like this, depending on what happens tomorrow with Spot Silver, hopefully will end up having done a comfortable purchase of ASE's (American Silver Eagles). Also within my budget, is enough to walk out with .925 Sterling for projects, and other .999 for my own silver pours in bars and rounds. So that everyone here understands, the measures I take to preserve my capital are not for wanting the U.S. Dollar or U.K. Pound to be devalued for my benefit, it is history that warns us to pay attention, to take measures to preserve what little capital any of us have to our name. Keep stacking everyone! Cheers from MikeInTexas!

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I dont know much about daily cycles, I'll have to check out more of this guy's charting work. 

To me, GC looks as simple as a Head & Shoulders top, with the current trade (1490) just backtesting the neckline, and an ultimate target of 1417.  

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3 hours ago, pneustack said:

I dont know much about daily cycles, I'll have to check out more of this guy's charting work. 

To me, GC looks as simple as a Head & Shoulders top, with the current trade (1490) just backtesting the neckline, and an ultimate target of 1417.  

https://blog.smartmoneytrackerpremium.com/

I think he calls the market pretty well and one of the few TAs that I pay much attention to.
His "yearly/imtermediate/daily cycle" system is simply a way of framing trends within different timeframes.

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6 hours ago, vand said:

https://blog.smartmoneytrackerpremium.com/

I think he calls the market pretty well and one of the few TAs that I pay much attention to.
His "yearly/imtermediate/daily cycle" system is simply a way of framing trends within different timeframes.

i watched a couple videos and could tell he's an experienced trader.  I dont pay much attention to sentiment personally, and will probably add him to the rotation of folks i periodically check in on, for the optix/sentiment if nothing else.  That always seemed to be a great (Contrarian) signal in equities and bonds

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  • 2 weeks later...
On 07/09/2019 at 04:23, h103efa said:

A weekly reversal bar - Pinocchio or pin bar!

If this bar breaks down (<17.95) i will make a SELL silver spreadbet (order already in place). i expect price to get down to fill the gap at around 17.40 area. This would be my first take profit area. After that price may get to 16.20/.40 which is a former resistance, now support area (with 150 EMA / 61.8 fibo confluence). I'd probably close my trade here and look for signal to buy and continue the upward trend.

2019-09-07 09.17.50.jpg

what are your thoughts on this 16.45 level now?  That would be right at the bottom of a descending channel/bull flag as well as moving average confluence... $16.45 on Monday 10/14 seems like a great place and time to buy a Monster Box . :D

 

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On 10/10/2019 at 09:59, pneustack said:

what are your thoughts on this 16.45 level now?  That would be right at the bottom of a descending channel/bull flag as well as moving average confluence... $16.45 on Monday 10/14 seems like a great place and time to buy a Monster Box . :D

 

see you on monday

 

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Monday is here!  (ok, its really not that exciting for metals or the work week in general)

 

However, Silver has been coiling for 3 weeks now, I would expect a pretty explosive move out of this $17-18 range before too long. 
Many scenarios for the upside, fwiw... I'm just hopeful (read: greedy) that I can buy more sub-17 before the next thrust up. 

 

Screen Shot 2019-10-14 at 9.31.48 AM.png

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for a short term up up move if anybody wants to consider this: you might have a Wolfe wave on a 4 hour chart with 1) 10/1, 2) 10/3, 3) 10/7, 4) 10/9, then the failed breakdown/5) point at the end of last week.

Would target the line extending from the 1) low and the 4) high

Screen Shot 2019-10-14 at 9.41.05 AM.png

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  • 2 weeks later...
On 14/10/2019 at 09:43, pneustack said:

for a short term up up move if anybody wants to consider this: you might have a Wolfe wave on a 4 hour chart with 1) 10/1, 2) 10/3, 3) 10/7, 4) 10/9, then the failed breakdown/5) point at the end of last week.

Would target the line extending from the 1) low and the 4) high

Screen Shot 2019-10-14 at 9.41.05 AM.png

Isn't that cat in the cradle?

 

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I think we are nearing the end of this correction phase. The bottom may already be in.

Silver Miners have distingushed themselves as one of worse underperforming plays on an underperforming sector, but recently they have actually been outperforming... is this a sign that silver is about to take the lead in the next upleg?

big.chart?nosettings=1&symb=sil&uf=0&typ

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6 hours ago, vand said:

I think we are nearing the end of this correction phase. The bottom may already be in.

Silver Miners have distingushed themselves as one of worse underperforming plays on an underperforming sector, but recently they have actually been outperforming... is this a sign that silver is about to take the lead in the next upleg?

big.chart?nosettings=1&symb=sil&uf=0&typ

Will be interesting in the time between now and this time next week for sure... 

Despite this recent little pop up, I feel like it was too weak to expect a major surge up to test the $18+ range immediate short term.  Kind of anticipating mid $16 range by next week, but we shall see..

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  • 1 month later...
On 05/06/2019 at 03:10, vand said:

The odds are very good that the intermediate bottom is now firmly in, after a 4 month trend downtrend.

I'm predicting that the PMs market will surprise many people, include those invested, with its next significant move, which should be to the upside. We've had a very long multi-year consolidation which has conditioned every to expect more of the same, but this is when markets defy those expectations.

$1500 gold and $18 silver are realistic 6 month targets.

With Gold at 1520 and Silver around 17.90 looks like you were spot on with that prediction

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1 hour ago, STONE said:

Its on the move... silver is at $18.55 and gold is at $1580.00

Platinum and palladium are moving up as well. Nice work Vand..

Vand?...I think more like trump your an ass and now threatening to bomb cultural centers, that's the dumb that lasts generations....that is bringing world War 3 In to trending.

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