How nice would it be if we could see the future. You could easily make hundreds of millions in a day literally if you forsee where the market is going especially with the amazing leverage options that many trading brokers offer. I have been using XM and i have no complains of now.
Well, with that said the point is that as mentioned in the previous post with reference to Gold;its about time that Silver too will rise above everyone's expectation on one side and on the other side the much probable stock market collapse.
I usually trade on the H4 & daily and below are some snaps of the same. Look carefully what can you deduce?
DAILY
H4
Well yea, we have good decent support there that hasnt been broken yet and all. nothing special and i certainly cant see much information in here to make a trade based on the information above ...
But hold on now lets, look at the weekly chart
Weekly
Wow, What is this! The overinflated stock/bond prices & geopolitical economic tension is for a fact bullish for precious metals but not just that the chart says that too.
i) We are a long term trend & price support.
ii)Beautiful Cup & Handle formation(red circle). The handle is getting rather long haha
iii) ~78.6% Fibonacci level (can be a great entry point, how much further down can it go???)
iv) Now consolidating and pls patiently wait for the breakout.
Well the indicators are all showing strong sell. We are at $16.5 silver price an ounce we can see it go to a little down and test the $15 range play around for a while only to double its price to $30 guesstimate...Well, thats atleast what i believe. I have low leverage smaller lots buy longs @ $16 and just waiting patiently do a bigger one around $14.5 or $15.
I hope you find this helpful and if you are not a trader just go and buy some physical gold & silver, you will be much better off :) The information provided in here is only my point of view and should not be considered as financial advice .
If you enjoyed it please do post your upvote, comment, resteem & follow.
Bitcoin : 1EDEU9A9D1pJYGkM8JaEEUgdH7U8yUNeXp
ETH & ERC 20 tokens : 0x277be3fe5b9b6fed7eff380bff320f9c1caf69a2
Steem & SBD : @amreshchandra :)