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Topic: Silver End of month marked in pink  (Read 2581 times) previous topic - next topic

0 Members and 2 Guests are viewing this topic.
  • Nikko
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Re: Silver End of month marked in pink
Reply #60
http://www.gannglobal.com/webinar/2018/01/18-02-08-Video-Offer-Is-Open.php?inf_contact_key=c9b76d22a33c5f45973eb58cbec72b2ddf3b0e582f5d6a24fca411516bc33b9b

new GANN Global video calling for a capitulation low...hes been calling this for a while.
This guy nailed some lows and highs in the past so I give him credit and am 100% cash.
If it blows by his levels miners could be 20-30% down from these levels.

Re: Silver End of month marked in pink
Reply #61
The top and bottom green lines have been exact bottoms. Only the middle one is left in order for all of them to be relevant. It is really close to it this morning.
https://www.tradingview.com/chart/XAGUSD/2qu6p19u-Possible-consolidation-for-silver/


It has come up before but bears repeating, The projection you made nearly 14 months ago continues to be spot on. Well done!

  • Nikko
  • [*][*][*][*][*]
Re: Silver End of month marked in pink
Reply #62
this guy is NOT a bear at all...watch the video...he just thinks that in order for a sustained rally of significance we need capitulation...wish I had the guts to short at this point but I don't...will stay in cash as not convinced of a blowoff bottom or anything for that matter.

Re: Silver End of month marked in pink
Reply #63
this guy is NOT a bear at all...watch the video...he just thinks that in order for a sustained rally of significance we need capitulation...wish I had the guts to short at this point but I don't...will stay in cash as not convinced of a blowoff bottom or anything for that matter.

If you thought I was suggesting the fellow was a bear with my comment to Ed about "bears repeating", I sorry, not in the least was that the intent. Maybe I could have better chose to say "merits repeating". I agree with him and in this thread posted a chart suggesting silver to $15.70 would form a quadruple bottom and possibly be enough to complete the potential requisite price drop before the big up move.

If you did not think I was suggesting the fellow was a bear with my comment, please disregard this "clarification".

  • Nikko
  • [*][*][*][*][*]
Re: Silver End of month marked in pink
Reply #64
sorry Sandy!
Anyone can be wrong and these are theories...I just took a decision to go in about 15% now in miners as its simply stupid to assume that a capitulation may happen....I could be stuck with FOMO and zero shares.
I went long the 2 etf's GDX ( 21.72 ) and GDXJ ( 31.18 ) just now with 15% cash...Still obviously hoping for lower prices but at least I am somewhat exposed in case I am wrong.
Off to Punta Cana tomorrow on holiday!

  • Erich
  • [*][*][*][*]
Re: Silver End of month marked in pink
Reply #65
sorry Sandy!
Anyone can be wrong and these are theories...I just took a decision to go in about 15% now in miners as its simply stupid to assume that a capitulation may happen....I could be stuck with FOMO and zero shares.
I went long the 2 etf's GDX ( 21.72 ) and GDXJ ( 31.18 ) just now with 15% cash...Still obviously hoping for lower prices but at least I am somewhat exposed in case I am wrong.
Off to Punta Cana tomorrow on holiday!

  Probably a good bet, but everything looks weak. You can always bail if it goes against you. Trading this market is an exercise in futility. Have fun in the Dominican I stayed at the Majestic a few years ago. Loved it! 

  • Nikko
  • [*][*][*][*][*]
Re: Silver End of month marked in pink
Reply #66
Off to Club Med...Erich, this is not a trade for me...I hold it no matter what as its only 15% of intended position...I am hoping we go down from here not up even with this long.

Re: Silver End of month marked in pink
Reply #67
Looking at silver COT data suggests silver may be poised for a rebound. Gold does not show the same characteristic.

https://finviz.com/futures_charts.ashx?t=SI&p=d1

https://finviz.com/futures_charts.ashx?t=GC&p=d1

Re: Silver End of month marked in pink
Reply #68
Looking at silver COT data suggests silver may be poised for a rebound. Gold does not show the same characteristic.

https://finviz.com/futures_charts.ashx?t=SI&p=d1

https://finviz.com/futures_charts.ashx?t=GC&p=d1

Looks to me like gold is pinching, just not that strongly. You see the same condition looking back to 2017 on that chart. It could mean an upward phase is coming, but it may be weak. I don't see where it suggests an uptrend would be strong or weak.

Re: Silver End of month marked in pink
Reply #69
To clarify, if you look at July and December last year, long commitment by large traders for silver was minimal and following, price increased. Similarly, commercial hedgers reduced their short positions at the same time. We have a similar situation now which is the pattern I see as potential to signal a coming rise in silver prices.

Same for gold as far as the pattern in July and December last year, but currently the pattern is not repeating with similar amplitude as you have noted, so I do not see the amplitude in price move for gold, albeit gold should move up. That does not preclude a possible short term capitulation in either or both metals.

Re: Silver End of month marked in pink
Reply #70
To clarify, if you look at July and December last year, long commitment by large traders for silver was minimal and following, price increased. Similarly, commercial hedgers reduced their short positions at the same time. We have a similar situation now which is the pattern I see as potential to signal a coming rise in silver prices.

Same for gold as far as the pattern in July and December last year, but currently the pattern is not repeating with similar amplitude as you have noted, so I do not see the amplitude in price move for gold, albeit gold should move up. That does not preclude a possible short term capitulation in either or both metals.

Silver and gold pretty much go hand in hand. In this case silver may advance with gold holding a more steady pattern. Either way both are doing their 5 DMA and will likely be tried at their 20 DMA if they get that far.  We'll see.

Re: Silver End of month marked in pink
Reply #71
It really does help a lot.  I am trying to help someone with a silver trade, I needed that 16.76 number. for a stop.
Here is another silver chart and the text i sent with it to my friend. This is the best i could do to try to convey what i am seeing.
Nikko, I take no offense from your comment, I need to know when what I am trying to show is not clear.
And blunt truth can come across the wrong way sometimes  in type. I'm sure it was not your intention. But I have nothing to fear from the truth.
The pink lines are the end of month bottoms and the lt blue are the eom tops. the orange arcs "look" bullish but weren't the purple arcs "look" bearish but aren't
.
The current silver chart reminded me of this.
For Entertainment Purposes Only.