No team yet... Probably will have to wait for tomorrow as this might last until way after market closes
Weasel Tracker wrote: No team yet... Probably will have to wait for tomorrow as this might last until way after market closes https://i.imgur.com/7FyXmwu.png
??? is right. This is crazy-making. It's interesting that we always expect that history can be interpreted to give us direction, that is to say that the price is always 'going somewhere' or about to. We;re always trying to make meaning.
Twice today I had to fight off selling my longs to go short because the 'reversal' was so not convincing and I suspect a setup for short bear period . But since it would be a short term bear I could also wait for it to turn and for today I will do just that.
Here's to the last 24 hours of the trading week!
I did not buy today, but resistance just broke... A couple retests of support, then pop! Maybe a bit early, but congrats on holding!
Nevermind, back to ??? LOL
Support broke, and is now resistance again...
OK! All is good!
Thanks for continuing to post the charts as this plays out. Overall it looks bullish with a chance of rain.
Given we're at or about to be at the next resistance level, and that it's been so difficult to chart for direction and the weekend in front of us I will be watching for a sign that I should take 1/2 of my long out for profit. Depends what I see during the day.
Still have not purchased a long position.... $16.65 will be the new important battleground.
Weasel Tracker wrote: Still have not purchased a long position.... $16.65 will be the new important battleground. https://i.imgur.com/xeOZuj7.png
And I didn't exit.
It's not like you've missed anything.
Happy, you may have just gotten F*cked in the last few minutes of trading... Sunday does not look good!
Weasel Tracker wrote: Happy, you may have just gotten F*cked in the last few minutes of trading... Sunday does not look good!
yeah, I was making a what-if chart and because today's action was long and indecisive the setup was there for an easy negative violation. If you stand back it is only a few pennies of price but technically it looks bad. If it had happened hours sooner I would take it more seriously. I had some time to watch the bid-ask spread during the day and it was not unusual to see 6 cents of separation so I am going to call this an end of week who cares moment.
Perhaps you are right. We'll see what happens Sunday and Monday. Have a good weekend Happy!
Just an update...
It did break through that support line, but looks like it wants to bounce off that highest down trending line before going south.
Support broke and resistance was retested. It Crashed to the bottom of the next channel. While the distance and timeframe looked odd, it did occur when an where I expected it as per my previous posts...
Well another day and still rangebound.
Good chartin :)
Silver just broke through the month-long downtrend. I guess today I will buy a long position!
Watch your stops weaseltracker.
If it gets back under that trend, you could be looking at a five wave sequence down.
Not saying it is a failed break, just if it becomes one, it would have just become a wave four upwards consolidation, and a move away from such a failed break would be quick to try to capture the longs into their positions.
Thanks Argentus! Just bought a long position after retesting just now... we'll see
Argentus many thanks for popping in. Over time staying on a tightrope leads to fatigue.
Weasel as I post this you look to have read it well.
I've taken one tranche out @ Ag $16.80