Best Thread Silver!

[dmt257]

earlier on in the day I said to shorten targets; this is why I said it, and the minute I posted it is shown on the graph

Awesome. It makes perfect sense.

I actually recognise that pattern of thought from Stan Weinsteins book. As I only trade Fx 95% of the time, its a little different with the Volume there. Putting all these bits of information together into a story, and then profiting has got to be very rewarding:smart:

 

[Doomberg]

The Silver SP has been up and down more times that an escorts knickers in the last few days

 

[trader_dante]

For what it's worth I think Silver is going a lot lower.

And although the margin hike kick started it, it was clearly coming.

Getting a short entry is a different matter though. It squeezes hard.

 

[nunrgguy]

For what it's worth I think Silver is going a lot lower.

And although the margin hike kick started it, it was clearly coming.

Getting a short entry is a different matter though. It squeezes hard.

The way I see it: Right now still in an area to trade long. Two criterion to wait for: price above the daily open and clear momentum, trade the pullback, or if it doesn't pullback, take the break. But if this week closes down strong, sell, first target 41.20 on my prices (current XAG price, 43.77)

 

[trader_dante]

4 once pete we are in agreement.

d!ck all had changed here, just forced long liquidation in thin markets. you can even put long limits in at 42 now, let the weaker faders get squeezed out before we revisit the scene of the crime.

PEACE

Are you both buyers at 42 then?

 

[wackypete2]

Are you both buyers at 42 then?

Yes, I am looking to buy in the 40-42 zone

I see support around 40.85. If it bounces or bases there then I'll buy. Stop would be around 39.60
Not buying while it's still falling. If it blows down past my buy zone then no play.

Peter

 

[DashRiprock]

Are you both buyers at 42 then?

was then, got no view now.

 

[wackypete2]

It would have been a better play then, yes. But I still like it.

If I make $$$ millions then I'll get a vendor badge !!

If I lose...oh well...

Peter

 

[trader_dante]

Yes, I am looking to buy in the 40-42 zone

I see support around 40.85.

Yes that's not a bad level.

I'll put a bid in at 36.48.

 

[DashRiprock]

watever number that 38.2 fib is I reckon stops below it.

anyway yeah it looks overdone (has something happened to warrant it?) but theres no trade for me until I can see where the pain is and the cavalry are. and anyway i dont trade silver I was watching the dom late y'day it looks pretty brutal, going through at 5 or so lots per tick (it trades in $0.005 ffs) and 3/4 wide at least

 

[wackypete2]

watever number that 38.2 fib is I reckon stops below it.

anyway yeah it looks overdone (has something happened to warrant it?) but theres no trade for me until I can see where the pain is and the cavalry are. and anyway i dont trade silver I was watching the dom late y'day it looks pretty brutal, going through at 5 or so lots per tick (it trades in $0.005 ffs) and 3/4 wide at least

The 38 fib and daily up trend line converge at about 40.85. That's what I'm looking at. I agree stops below there and I want to see if they get tripped before I enter long.

Peter

 

[counter_violent]

Dirty little stop run on thin vol.

Time to get long. :!:

 

[DashRiprock]

didnt see it unfold, but it looks like someone gunned for them.

 

[DashRiprock]

id be apprehensve about going long so early. its the middle of the bloody night, and it didn't take many contracts to take out the lows.

 

[DashRiprock]

having said that theres reasonable volume on that spike, compares to stops during RTH

 

[counter_violent]

id be apprehensve about going long so early. its the middle of the bloody night, and it didn't take many contracts to take out the lows.

Well spotted...I forgot to add this :!:

 

[DashRiprock]

on bots the graphs, the solid yellow line is a daily fibofarty level, the dashed yellow line is recent lows, and the purple dashed line is the trendline that peter goes on about.

see comments.

 

[DashRiprock]

good thread this

 

[wackypete2]

good thread this

Good ideas and information with no petty bickering.



Peter

 

[DashRiprock]

anyway my general approach here would be wait to see where it opens and then wait to see what the reaction was. these silver futures look ultra thin so I doubt there are sizeable working stops working all the globex hours.