Silver...just put in the highs for many years to come
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LiveTradingZone
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L
Liquid validity
As an intraday short it is / was a good trade.
As a purely intra day move on something else, its a trade I would have probably taken.
On silver near the all time high with a strong daily uptrend, along with gold, USD QE and so on, no trade for those reasons.
You seem to be taking a long term view, not an intra one.
Most see the uptrend continuing long term, yeah a daily chart pullback is likely but a retrace to $30
good luck with that one...Personally I would be surprised if a retrace breaks $41.
An all time high is bound to be tested at least once before a breakout.
As depth said, after that there is no resistance...
Not criticising as such, but that has the makings of a nasty burn from where I'm standing if you hold out for $30.
vinicius
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It is just some noise before Bernark open his mouth tomorrow, but after a while everyone will realizes that everything is just the same and the dollar will keep it journey south.. Then you will see new fresh demand for PMs.
Who was out will buy;
Who did sell at $50 will buy and re-buy;
who shorted at $50 will buy;
Clearly the short at $50 was a beatiful short-term trade, but we are going higher, the greenback cant be strong right now.
Who was out will buy;
Who did sell at $50 will buy and re-buy;
who shorted at $50 will buy;
Clearly the short at $50 was a beatiful short-term trade, but we are going higher, the greenback cant be strong right now.
JahDave
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Being a redneck boy from South Carolina,,,,,,,,,,,All I can say is watch this.............Within 3 months then the USD will be on a rant to the upside..........I think it will probably be sooner than that........
This will bring weaker commodities across the board...........I think when this is all over then oil will be $25.00 per barrel and silver will be $14.00 per ounce..........After that then things may go either way long term...............
Good Trading,
JahDave
This will bring weaker commodities across the board...........I think when this is all over then oil will be $25.00 per barrel and silver will be $14.00 per ounce..........After that then things may go either way long term...............
Good Trading,
JahDave
L
Liquid validity
QE3 or no QE3 :cheesy: (not that it will help, just digging a bigger hole longterm).
Agree with other points made, fall is mostly down to take profit as opposed to shorters.
Nevertheless, ballsy trade LTZ, not one I would have taken for sure
Agree with other points made, fall is mostly down to take profit as opposed to shorters.
Nevertheless, ballsy trade LTZ, not one I would have taken for sure
Elliot seems to predict the world coming to an end alot. I wonder what he thinks of 2012.
JahDave
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The world will not come to an end,,,,,,,,,,,,,,but the world indexes have never accelerated at such a pace as the last ten years................
LiveTradingZone
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It hasn't really moved since yesterday. After the FED meeting things will get crazy I think across the whole board. I think they are a wildcard with this meeting.
LiveTradingZone
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I am a technical trader so I don't believe in trading based on fundamentals. However, silver has gone parabolic lately and the overall trend is still up. But...I had to call a shot at a short just in case this was it
I am a technical trader so I don't believe in trading based on fundamentals. However, silver has gone parabolic lately and the overall trend is still up. But...I had to call a shot at a short just in case this was it
Yeah I got out close to the high. Even though im a G&S bug I would like to see a significant correction so I can get back in cheaply and ride the wave back up again
It was a crazy move over the last 18 months.Silver is such an incredible metal, it has a list of uses a mile long and the physical market is extremely tight. Its industrial use will continue to rocket, and in addition to investment demand the Silver story has a way to go. In 1980 it was the US and Western Europe involved. This time it is the entire world of more than 6 Billion people.
safvan
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Silver cannot be shorted on a technical level unless the chart price patterns show the weakness which it WILL show and give ample indications of and will take its own time to show. Trends do not change in a day. Effective shorting for something that is going up and up is hard. I have a feeling a lot of people here play the market with chances without solid understanding of how things in the markets work.
LiveTradingZone
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You can't deny the technical set up for a short on silver. Take a look at the daily chart... If we break the high then trend continues up, if not it's a valid swing/long term short.
Risk/reward was 1:10. Can't get much better than that
