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Posted 21 September 2020 - 08:07 AM
After days of atrociously weak efforts by the bulls...look like bears finally taking the ball for bit....
If/when bulls reclaim 1955 on GC, that will likely be buy signal.
Until then, ride could get rough for a bit.....
Don't know how far down we are going yet, but big air gaps in SLV chart suggest it may may be further than some might expect.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 September 2020 - 08:10 AM
Big floor area on SI at 26.....if bulls lose that, then the abyss door open for a bit.....
Edited by K Wave, 21 September 2020 - 08:10 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 September 2020 - 08:21 AM
Big floor area on SI at 26.....if bulls lose that, then the abyss door open for a bit.....
don't like this, exited half of what was a 30% long position pre market have orders in to exit the rest, charts look very vulnerable to me and if we don't reverse higher quickly it could get very ugly, just my take and as always DYODD
Senor
Member
Posted 21 September 2020 - 08:35 AM
Big floor area on SI at 26.....if bulls lose that, then the abyss door open for a bit.....
don't like this, exited half of what was a 30% long position pre market have orders in to exit the rest, charts look very vulnerable to me and if we don't reverse higher quickly it could get very ugly, just my take and as always DYODD
Senor
got lucky KL spiked up decently after move below 50, out of rest of position and now out of all positions. maybe a mistake but rather be safe than sorry especially if we see another March type decline in generl mkt
Senor
Member
Posted 21 September 2020 - 08:44 AM
And there's the break away....
all those candles that printed below the maginot line after the breakdown candle after the dying thrust at 1:10 on Friday was the big clue.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 September 2020 - 08:59 AM
And as I was worried about.....Gold/Silver appears to turning the corner into what could be sharp rebound rally, after the divergent low at the beginning of September.
Pretty classic setup...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 September 2020 - 09:06 AM
got lucky KL spiked up decently after move below 50, out of rest of position and now out of all positions. maybe a mistake but rather be safe than sorry especially if we see another March type decline in generl mkt
Senor
Yes, another reason I had the hackles up. Thus far, Silver still seems to be tracking pretty much with stocks, and stocks were starting to look a bit suspect as they head into October.
If we get through 2nd week of October, and hourly cash charts still in reasonably good shape, then should be time to buy again.
And as before, Gold will likely signal the turn first.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 September 2020 - 09:06 AM
And as I was worried about.....Gold/Silver appears to turning the corner into what could be sharp rebound rally, after the divergent low at the beginning of September.
Pretty classic setup...
yeah, and GLD has hugely impt shelf of support at 179 area, IF that goes it could get very, very ugly IMO
and daily RSI in GLD market to the mkt has easily broken down IMO - is it "leading" or will we see a Houdini reversal?
Senor
Edited by senorBS, 21 September 2020 - 09:08 AM.
Member
Posted 21 September 2020 - 09:12 AM
SLV hourly now in the "crash window"....
This is "where" big moves can happen.
Does not necessarily mean the move will completely traverse the window, but with momo now breaking down hard after weakening the last couple months, probably not wise to step in front of this right away....
Edited by K Wave, 21 September 2020 - 09:14 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 September 2020 - 09:25 AM
SLV hourly now in the "crash window"....
This is "where" big moves can happen.
Does not necessarily mean the move will completely traverse the window, but with momo now breaking down hard after weakening the last couple months, probably not wise to step in front of this right away....
did not take long for GLD to plunge below 179 - muy malo
Senor
