Silver - Triangle game
Atualizado
I'm watching silver for weeks now . It's in a triangle and it seems it's finally breaking out today.
The precious metal intermediate cycle is getting mature but I still think silver is not done yet. If I'm right we are going to have those 1$ up days in the following 2 weeks what we had last summer.
The question is if we can break through the multi-month-blue-trendline on the daily as we are breaking out of the triangle. If we do the rally can produce a 3-4$ rally up to 22$ in a very short period of time (5-10 days) :
I'm also watching the XAUXAG ratio:
The bear flag on the above chart is breaking down. It means silver will rally much more violently at the end of this precious metal intermediate cycle than gold.
I will use a stop if price turns back and breaks below the triangle.
Important : JP Morgan can hit this anytime to turn back down producing a bull trap. If we can't hold the breakout and reverse you will have to stop this out. Banks are hungry for your money. They've lost a lot during the pandemia.
The precious metal intermediate cycle is getting mature but I still think silver is not done yet. If I'm right we are going to have those 1$ up days in the following 2 weeks what we had last summer.
The question is if we can break through the multi-month-blue-trendline on the daily as we are breaking out of the triangle. If we do the rally can produce a 3-4$ rally up to 22$ in a very short period of time (5-10 days) :
I'm also watching the XAUXAG ratio:
The bear flag on the above chart is breaking down. It means silver will rally much more violently at the end of this precious metal intermediate cycle than gold.
I will use a stop if price turns back and breaks below the triangle.
Important : JP Morgan can hit this anytime to turn back down producing a bull trap. If we can't hold the breakout and reverse you will have to stop this out. Banks are hungry for your money. They've lost a lot during the pandemia.
Nota
The multi month trendline breakout will occur above 18.5 $ only:Nota
But I think the previous few days had set to the trendline lower:Nota
The last 2 reversals from the red triangle trendline is negated today ( the last one was a daily key reversal).Nota
So right now it looks really good. Let's see how it closes.Nota
Breaking the multi month trendlineNota
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Xauxag flag broke downNota
At the edge of the breakout.
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I just added to the long position. I’m expecting a very fast move to 20-21Nota
And there is the breakout
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The breakout is held into the close.Sticking to the position. Big move is coming to the upside.
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Show must go on. JPM released silver.Nota
XAUXAG following the path I expected.This is tge main reason why silver will outperform gold in this ICL topping move.
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19.634 is the previous high. That is the next level to be tested.Nota
Xauxag ratio closed below the 200sma . Today there is no sign of recovery. Smartmoney is switching from gold to silver.Nota
There is no sign of recovery in DXY too. If it drops more xauusd and xag usd can benefit from it.Nota
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Key reversal in the NAZ. And swing high today. The government will fight till last breath to stop this.
But we saw this march how far can they stop a correction . If more states are locking down we muggt test the March lows as we get closer to the elections.
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Muggt=mightNota
I feel every puzzle piece in its place for a nice precious metal rally in the next 2-3 weeks.Nota
Another great day again with a new high.
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We are entering the final 10 day of the Silver intermediate rally. These are the 5-6% days where the sideline traders are starting to chase the price and shorts are getting squeezed. Someone big bought today as price tried to tag the 10 SMA.
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Higher high in the rally again and we are testing the 19.634 level soon.The break of it will trigger some kind of short squeeze where I would like to exit the position.
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... and there is the breakout.Nota
Another big surge today without any pullback. Nota
Long from 18.1$ when the triangle broke outNota
Short squeeze.Trade fechado manualmente
What a run. Locking the gains at 22.5$
Nota
The xauxag ratio probably going to take a breather at the 80$ Resistance.
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There was one more exit point in the morning If you missed the night exit.Nota
If we hit 21-21,5 in the next 2 days I might long silver again for one more push. After the 3 day rally it seems we stucked in a range.
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