Silver intermediate cycle bottomed with gold on the 30th November. Silver didn't have that serious decline at the end of the last intermediate cycle like gold.
Notice that we were in a consolidation box for 4 months and today we broke out.
Is it too late to enter the party? No. We are still early in this game and I think silver will run to 42 and maybe to 50 in the following 3-4 months. I've already posted my thoughts regarding the XAUXAG ratio: If you are looking for targets in silver I suggest to read the idea above .
If you are not in a position yet I would wait for a backtest of the consolidation box at 26.00$. If you already in a position I would increase the position size at 26$.
We have a lot of time in this trade before we have to worry about a top. TSI is just turning up and RSI just reached the overbought territory. RSI can stay overbought for a month or more just like last summer.
I will set this idea as a long idea as we broke out of the box but I would wait for a backtest at 26$ before entering.
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That was fast. They've run the stops below 25,5$ too.
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Testing the consolidation box again.
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If we drop into the box big money will buy again with big orders. Just like yesterday.
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We had a successfull backtest of the consolidation box - 100 SMA was also tagged- and we are heading higher:
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Yeah I know what you feel : we should have bought much more silver last week
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Adding to the long position.
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We are at the top of the range where the breakout occured.
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The idea plays out as expected. We are having a pullback at the previous intermediate top at 29,9$.
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On the main chart of this idea I highlighted this target as a possible price for a pullback.
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Today and tomorrow we are going to test 27.66 and maybe the 100 SMA at 26.7 as the dollar bounces. Use it to start a position. The 2nd daily cycle is still very young we have at least 2 more weeks to rally.
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First target achieved:
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Fight at 27.665
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Second target achieved
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200 SMA was the point break.
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The naked short dump program starting again. Funny that the precious metals market starting to become similar when Obama was the president. So it seems the Democrats are forcing both gold and silver into a bear market.This happened before tram and it seems they are trying this again
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Tram=Trump If anyone has any idea why this is happening just be my guest and post it here
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Many times I have the feeling that banks are trying to fill the missing Cycle knowledge with money, courage and luck but will that be enough when the $ is clearly going to fall? They simply never know when to attack the metals...
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Weekly swing today in the eurusd. This is going to have a big impact on the manipulated metal market. Bullion banks are in big trouble with their shorts.
Trading ditutup secara manual
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It seems we will back test the 200 SMA at 24 and it might drop lower
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The worst case scenario is the backtest of 20$ at the 100 SMA and the breakout.
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