It looks like there was a wholesale liquidator of silver and many other metals over the past two weeks that took silver down by over two dollars from over $16.30 to under $14.20.
The 2 hour time frame captures the decline quite well and the pauses along the way weren't much longer than 10 bars.
The current correction to that downtrend is the longest so far and appears to be trying to form an uptrend.
I realize I publish mostly bullish charts on silver lately, but I do have more opinions on this market that I have produced charts. There are always opportunities to trade both sides of the market and I can do better to publish more often, but I don't hear enough from all of you to know how many charts you want to see. I don't want to OVERproduce charts, that's for sure.
Look for silver to work towards 14.60 over the coming day or two and then look for 14.40 to hold on pullbacks. Buying here, exiting 14.60, re-entering back near 14.40 (perhaps 14.45) and then looking for 14.60-14.70. If we get that kind of trade in XAGUSD, then we can look for more upside after that.
Tim XAGUSD 14.397 last 8:02AM EST - error publishing now 14.382
评论
MarkLangley
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Hi Tim i am a believer in the quality of the charts that are being presented not the volume think to many people on Tradingview are turning it into a competition on the number of charts that can be produced. I have learnt to ignore most of those now and focus on the quality and content of the person. My personal opinion is that you are one of those individuals that can be trusted with well structured charts and comment so please continue in the manner you have been contributing.
marcus123
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what kind of stoploss are we looking at here? just that there is divergence on the W1 and price is in a W1 bearish channel with little sign of downtrend momentum stopping yet...
marcus123
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Some more charts and insight would be greatly appreciated Tim. Thanks again!
moorekapital
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MrNeutral
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Tim your charts are always welcome, make as many as you have time for. I welcome all peoples ideas but your charts tend to give more detailed information and you explain and support your positions. Other chartists have good ideas but sometimes cater to people that already know exactly what they are talking about and give no detailed information. I know you are highly respected and TradingView would not be the same without you. Keep up the great work and again publish as many charts as you have time for without hurting your own trading routine. Thanks
look4edge
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sorry guys, dont wonna spoil your bullparty with this
sorinT
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no, you don't spoil any bullish party. Long time trend is bearish, I mentioned that. Tim has presented a 2h chart, so a correction is likely, which I agree with.
marcus123
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With all due respect, what are you saying here; or what is it in the chart that you are conveying re: bearish momentum? Thanks...
aloyghosal
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Tim, I always follow your charts and please publish as and when you have time. Always helps. Thanks.
sorinT
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Hi Tim, thank you for sharing your ideea! I have also constructed a similar chart and after the breakout of the channel we should see some retracement at least up to 0.23 fibs. I am also long with a first target at 14.6.
Anyways, the weekly chart looks pretty bad, bearish trend still in place.