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ONE YEAR SILVER CONTRACTING TRIANGLE ENDING?


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#1 senorBS

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Posted 20 July 2021 - 05:27 PM

I'd prefer this thread to address this specific silver count only. I have looked at silver priced in EUR/CAD/AUD/CHF/GBP dollars. If you look at any of these charts you can CLEARLY see large contracting triangles possibly being traced out from major highs registered in early August 2020, and daily and weekly charts suggest wave E could be in its final stages right now, this IMO is about as clear a pattern as one can ask for however that does not mean it has to or will be the correct one. One can argue that silver priced in U.S. dollars made a quick spike to new highs in Jan of this year - but so what? wave "b" of a contracting triangle is allowed to do that and if one using close only charts no new high was registered in Jan. - I think this is keeping most, if not all folks from talking about this possible count, as I have not seen it mentioned anywhere. 

 

In any case basis the U.S. dollar this count is invalidated if silver took out the 23.78 March 30th low. If this count is correct there is likely something like 8 plus pts of upside (widest part of triangle) if a "thrust" higher occurs from whatever wave "E" lows occurs (if it does). This is an exercise in charting and Ewave - lets see how it plays out and as always DYODD

 

NO BS

 

Senor


Edited by senorBS, 20 July 2021 - 05:32 PM.


#2 goldfungus

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Posted 20 July 2021 - 06:07 PM

Nice! Added to PAAS. Not in the Bunker yet. LOL



#3 jabat

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Posted 20 July 2021 - 08:28 PM

Senor 

I read and follow your detailed inputs . You are not alone.\!!!

Jabat



#4 K Wave

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Posted 20 July 2021 - 09:20 PM

The big problem I see is the huge breakout failure at the 200 day MA with momo now turning back down below zero line on Especially Silver CAD and Silver GBP.

 

Those massive bearish engulfings last week crashing back below the 200 day MA look ominous to me...

Until those engulfings are taken out, now in potentially very dangerous area.....

 

That was a MASSIVE pivot battle the bulls just lost...this downdraft may last awhile...

 

That said, if they are quickly reversed, it would likely be super bullish...Happy to sit on the sidelines for now though, rather than try to catch what could easily turn into a falling knife for a bit...

 

Silver CAD

xc.png[

 

Silver GBP

xg.png

 



#5 senorBS

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Posted 20 July 2021 - 11:43 PM

The big problem I see is the huge breakout failure at the 200 day MA with momo now turning back down below zero line on Especially Silver CAD and Silver GBP.

 

Those massive bearish engulfings last week crashing back below the 200 day MA look ominous to me...

Until those engulfings are taken out, now in potentially very dangerous area.....

 

That was a MASSIVE pivot battle the bulls just lost...this downdraft may last awhile...

 

That said, if they are quickly reversed, it would likely be super bullish...Happy to sit on the sidelines for now though, rather than try to catch what could easily turn into a falling knife for a bit...

 

Silver CAD

xc.png[

 

Silver GBP

xg.png

 

no guarantees but death and taxes, take out the wave C lows and count is invalidated, IMO these are solid patterns and given very oversold extremes I can see this scenario playing out, at this time its my preferred count, not married to anything and if I get a near term 5 up from a low somewhere above 23.78 basis silver in U.S. dollars I'll load da boats, currently I am bout 15% long so am taking it slow for now. I gotta good road map for me ad what I do, so I roll with is sensibly, and know where I am wrong, as a trader not much more I can ask for

 

Senor



#6 senorBS

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Posted 21 July 2021 - 10:09 AM

The big problem I see is the huge breakout failure at the 200 day MA with momo now turning back down below zero line on Especially Silver CAD and Silver GBP.

 

Those massive bearish engulfings last week crashing back below the 200 day MA look ominous to me...

Until those engulfings are taken out, now in potentially very dangerous area.....

 

That was a MASSIVE pivot battle the bulls just lost...this downdraft may last awhile...

 

That said, if they are quickly reversed, it would likely be super bullish...Happy to sit on the sidelines for now though, rather than try to catch what could easily turn into a falling knife for a bit...

 

Silver CAD

xc.png[

 

Silver GBP

xg.png

 

I see no problem but lets see how it goes

 

Senor



#7 senorBS

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Posted 21 July 2021 - 01:55 PM

late in the day and silver pretty much top tick at 25.26, short term wave count of recent low (possible wave E) could be 1/2 i/ii and now entering a short term wave iii. Please keep in mind that short term counts like this IMO are harder to forecast with accuracy so this is simply a best guess based upon what I currently see and could change quickly. But "so far" silver has done what it needed to, now we want to see more upside follow thru

 

Senor



#8 senorBS

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Posted 21 July 2021 - 02:34 PM

Well the first significant bit of bullish evidence IMO comes from the SLV which of course does not include after hrs/overnight trading but basically has the same potential contracting triangle that I wrote about in silver vs all key currencies. SLV from its recent decline low looks like 5 up hourly at this time to todays highs (so far) from recent low at 23. So at least a significant "trading" low likely has been seen, whether it is the possible Wave "E" remains to be seen

 

Senor



#9 dougie

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Posted 21 July 2021 - 02:43 PM

The big problem I see is the huge breakout failure at the 200 day MA with momo now turning back down below zero line on Especially Silver CAD and Silver GBP.

 

Those massive bearish engulfings last week crashing back below the 200 day MA look ominous to me...

Until those engulfings are taken out, now in potentially very dangerous area.....

 

That was a MASSIVE pivot battle the bulls just lost...this downdraft may last awhile...

 

That said, if they are quickly reversed, it would likely be super bullish...Happy to sit on the sidelines for now though, rather than try to catch what could easily turn into a falling knife for a bit...

 

Silver CAD

xc.png[

 

Silver GBP

xg.png

 

 

 

That said, if they are quickly reversed, it would likely be super bullish.



#10 dougie

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Posted 21 July 2021 - 02:47 PM

Senor:"If this count is correct there is likely something like 8 plus pts of upside "

in what time frame would you sexpect to see that unfold per chance?