As in my linked chart my reasoning is almost exactly the same as with the Devil's Metal. GLD/SLV both trade very similarly. But gold is a smoother ride, less volatile but also smaller gains.
Ichi setup looks neutral/bullish- Chikou about to poke above price, bullish T/K cross, quite a thick cloud which doesn't indicate anything other than the edge to edge to aim for. The bearish fractal before entry is a little deep to place a stop for me personally.
Decent momentum/trend on W and D. We've had a heavy correction since 2011/12.
Depending how you draw the Fib we are bounding around the 50% mark or the .23 mark.
Don't believe the gold and silver shills, these metals move just like any other market.
I will have some other thoughts about the gold silver ratio. But at a glance it indicates to me that silver may be the better bet going forward. But as always, more volatile too.
Oscillators aren't telling me much, so not included.
Ichi setup looks neutral/bullish- Chikou about to poke above price, bullish T/K cross, quite a thick cloud which doesn't indicate anything other than the edge to edge to aim for. The bearish fractal before entry is a little deep to place a stop for me personally.
Decent momentum/trend on W and D. We've had a heavy correction since 2011/12.
Depending how you draw the Fib we are bounding around the 50% mark or the .23 mark.
Don't believe the gold and silver shills, these metals move just like any other market.
I will have some other thoughts about the gold silver ratio. But at a glance it indicates to me that silver may be the better bet going forward. But as always, more volatile too.
Oscillators aren't telling me much, so not included.
