Silver Monitoring Thread £ (GBP) only.

[smilingsocks]

On 07/10/2018 at 21:31, Tingles said:

I understood pre-owned Silver is VAT free as VAT has already been paid to HMRC.  Sorry, if I misunderstood what you’re selling.

 

[Stargazer]

What happened ?

What could cause a sudden rise like this ..... the US shut down ?

 

Edited December 30, 2018 by Stargazer

[sovereignsteve]

What timescale is that and how long are the candlesticks?

 

[Stargazer]

Here is a link to it.

And here the Gold / Silver ratio

 

 

Edited December 30, 2018 by Stargazer

[ken]

Hello All, I'm new to this Silver malarkey so grateful for advice. I was going to buy some Brittanias but the price has gone up bt about a £1 since I first looked. Should I buy now or wait, is this just a normal January (2019) price rise? 

[5huggy]

Ken - - - purchase what you can "TRULY" afford and at a pace daily/weekly/monthly that you are "TRULY" comfortable with !

That way you end up £/cost averaging - without overdoing it!

And if you are intending to hold a basic HODL stack base then you will gain from any increases in the PM market prices! OVER the longer term 

It takes a lot of skill to be a "flipper" or a "market timer" - PM's IMHO are an insurance and long term wealth stabilizer

[5huggy]

Having said that to a new member @ken 

this chart right now(time of this post) suggests to me that there is a breakout "likely" 

[SmallMan61029]

Can someone help me with this topic? Please email me at mrmanman1010@outlook.com thanks! 😁

[SmallMan61029]

looking back at @5huggys post it looks like silver prices are just randomly spiking, not progressing (sorry if I am wrong).

[5huggy]

2 months ago it was down at $14 -and now its at $15.50 and above!

Ignore the "noise" ie daily up's and down's

look at 5day chart - - - - >>here       

[Stargazer]

Can someone explain to me the what the terms “recistanse” and “support” means in words that I can understand ?

And why does the market react that way ?

 

It is because I notice that the price went rapidly up, an now it is like it got stuck at about $15,60...

 

[HawkHybrid]

resistance and support are zones in price eg $15.80- $16.20.

there are increase trades ready at those zones. so if the price

rises into the zone then there will be more trades(sellers when

prices rise into zone) in that zone. if the price falls into the

same zone then there will more trades, (buy trades appear

when prices fall into a zone). these zones are almost always a

point when there were increase trades in that zone before.

 

the significance of this is that trending price movements are

usually delayed or even reversed at these price zones.

 

HH

[ken]

I'm even more confused! 

[HawkHybrid]

resistance means sellers will appear at this price.

support means buyers will appear at this price.

 

HH

[HelpingHands]

12 minutes ago, ken said:

I'm even more confused! 

How about this... say the price was at $20 for a while so plenty of people were buying in this area.

Then the price dumps.   

When it gets back to $20 there may be many people selling at this price just to get their money back.   

This resistance may cause difficulty for the price to get over the $20 level. 

[5huggy]

16 minutes ago, HelpingHands said:

How about this... say the price was at $20 for a while so plenty of people were buying in this area.

Then the price dumps.   

When it gets back to $20 there may be many people selling at this price just to get their money back.   

This resistance may cause difficulty for the price to get over the $20 level. 

IMHO that would be an ideal stack point!

1/ If you are more of a long termer

2/Not a short term flipper

SO when it does go over $20 then your in the money! - - - anyone STILL remember when it was $50 an ounce ?! - - - - 20 to 50 = 1.5 times your investment then throw it over the wall!

[HelpingHands]

13 minutes ago, 5huggy said:

IMHO that would be an ideal stack point!

 

It's probably the worse time to buy.   

You'd be better waiting to see if it sells off or for it to break out above -  then the resistance might become support.

[5huggy]

Well ok I have to agree you are quite right @HelpingHands 👍- - what i really meant but I did not put across correctly (sorry 🙄)

(my stupidity under influence of PRESCRIBED) due to serious chest infection

Was anything upto there ie $20, is stack territory ergo RIGHT NOW!!!

 

[ken]

So say you had £20 000 to spend, what would you do? 

[HelpingHands]

1 hour ago, ken said:

So say you had £20 000 to spend, what would you do? 

Probably buy in gradually so you have an average price.

 

 

[KDave]

2 hours ago, ken said:

So say you had £20 000 to spend, what would you do? 

Say you invest £20,000 today. How are you going to sell. What price you are going to sell at. How long is your investment timeline. That is just to start. Lots to consider before buying anything imo. If you have figured this out already I apologise. We can't tell you what to do with your money, but..

What would I do with 20k? I would probably go all in at the top, and then watch the silver price crash to $2 an ounce for the next decade at least 

[Roy]

2 hours ago, ken said:

So say you had £20 000 to spend, what would you do? 

I'd buy gold.

But that's a different thread.

Are people still throwing around figures like that? The '80s are over man!

[ken]

Why Gold Roy? 

[ken]

I'm looking to preserve my wealth. I'm not looking for short term investment. 

[vand]

Gold & silver have run into obvious long term resistance at these current levels. There's a chance they might still break through, but momentum is now fading and each session that it doesn't manage increases the likelihood that they'll ultimately fail this test and get sold off again. Too many are short term optimistic, so I personally would not be surprised to see the selloff scenario play out. Accordingly I have unwound most of my trading positions.