Silver Monitoring Thread £ (GBP) only.

[daca]

10 minutes ago, BLOOMMAN101 said:

 

[timsk]

1 hour ago, monkey said:

I have some possible price targets in site, not been charting long but the patterns I find seem to have a fair degree of prediction.

If the capping line I have is broken I have a near term target of £21 again.

Hi monkey,

Your post is screaming out for visual accompaniment. Chart please! 😀

[monkey]

4 minutes ago, timsk said:

Hi monkey,

Your post is screaming out for visual accompaniment. Chart please! 😀

hang on I'll dig it out. I can promise anything professional its very much something I'm learning at the moment.

[James32]

3 minutes ago, monkey said:

hang on I'll dig it out. I can promise anything professional its very much something I'm learning at the moment.

Wen real moon?

[stefffana]

7 minutes ago, James32 said:

Wen real moon?

Next full moons will be on:

- August 27, 2023
– September 25, 2023
– October 24, 2023
– November 22, 2023
– December 22, 2023

[Darr3nG]

9 minutes ago, James32 said:

Wen real moon?

Tonight?

[BLOOMMAN101]

Good point was made on the Market Sniper twitter feed   below 

john
@john09354253
·
8m
I do not understand the usefulness of TA in such a highly manipulated market. Other than to show you when JP hammers it down or allows a small rise. I have been long silver for 15 years, I am getting tired!

[ZRPMs]

  Silver's gone up another 2p since I last looked.................. no wait it's dropped a penny 

[monkey]

1 hour ago, timsk said:

Hi monkey,

Your post is screaming out for visual accompaniment. Chart please! 😀

Ok, very amateur charts but this is one potential I see to the up side. I see some down too. 🤣

 

Edited August 23, 2023 by monkey

[ZRPMs]

Sorry @monkey I'm not that great with charts, It's probably me. But them charts have a lot of bull in them.

[stefffana]

4 minutes ago, monkey said:

Ok, very admixture charts but this is one potential I see to the up side. I see some down too. 🤣

 

 

2 minutes ago, ZRPMs said:

Sorry @monkey I'm not that great with charts, It's probably me. But them charts have a lot of bull in them.

So.... my silver spoons from my stack are already on an ascendant trend, or not?

I can't read "spoons" on your charts...😓😓😓

 

 

[silversky]

I wonder when the bears will find some relief?  And for how long?....

It's been three days of bullish melt up, with only short periods of minor reversals.  There must have been a decent amount of money lost on the short side.  How many are still hanging in there hoping not to get stopped out?  Further up, I imagine that there will be quite a lot of stops placed above the 21.5 area, as well as quite a number of limit buys ready too.  If that area is breached, the losing shorts would add a whole fuel depot to the fire.  Granted, that's a long way off yet, and it looks a little too early to me... but perhaps in September such a push might occur.

Copper starting to move upwards as well, which indicates to me that this is based on economic anticipation just as much as it is on precious metal anticipation.

[monkey]

34 minutes ago, stefffana said:

 

So.... my silver spoons from my stack are already on an ascendant trend, or not?

I can't read "spoons" on your charts...😓😓😓

 

 

If they have got silver, then they will rise up too my friend.

[monkey]

40 minutes ago, ZRPMs said:

Sorry @monkey I'm not that great with charts, It's probably me. But them charts have a lot of bull in them.

Is that Bull sentiment or Bull Excrement? lol

[timsk]

12 minutes ago, monkey said:

Ok, very admixture charts but this is one potential I see to the up side. I see some down too. 🤣

Thanks monkey.

If the message your charts convey to you is one that's helpful and meaningful - don't worry about being new at the game. It's all largely subjective anyway: one technical analyst's pullback is another technical analyst's reversal. So, there is no real right or wrong. The only thing I'd say is that if (note emphasis) you're struggling and not finding an approach that conveys helpful and meaningful insights into the market - try keeping it super simple. You've got a lot of spaghetti going on there (again, not a criticism - just an observation) and sometimes TA is a case of 'less is more'.

Do I do as I preach I hear you ask? I'm as guilty as the next person when it comes to playing around with charts but, as I'm easily confused, I like to stick to the basics. My recent 'find' is the Optimised Trend Tracker (OTT) indicator which, IMO, does a half decent job of doing what it says on the tin. If price is above the blue moving average which is above the thicker green OTT line - then I'm bullish. If price is between the blue moving average and the main green OTT line, then that suggests either a pullback or possible trend reversal. The reverse applies in a downtrend when the OTT line is red. Here's a chart . . .

 

[ZRPMs]

1 minute ago, monkey said:

Is that Bull sentiment or Bull Excrement? lol

Only joking mate. 

[monkey]

1 hour ago, ZRPMs said:

Only joking mate. 

Ha I know, no hard feeling just playing along 😁

[monkey]

1 hour ago, timsk said:

Thanks monkey.

If the message your charts convey to you is one that's helpful and meaningful - don't worry about being new at the game. It's all largely subjective anyway: one technical analyst's pullback is another technical analyst's reversal. So, there is no real right or wrong. The only thing I'd say is that if (note emphasis) you're struggling and not finding an approach that conveys helpful and meaningful insights into the market - try keeping it super simple. You've got a lot of spaghetti going on there (again, not a criticism - just an observation) and sometimes TA is a case of 'less is more'.

Do I do as I preach I hear you ask? I'm as guilty as the next person when it comes to playing around with charts but, as I'm easily confused, I like to stick to the basics. My recent 'find' is the Optimised Trend Tracker (OTT) indicator which, IMO, does a half decent job of doing what it says on the tin. If price is above the blue moving average which is above the thicker green OTT line - then I'm bullish. If price is between the blue moving average and the main green OTT line, then that suggests either a pullback or possible trend reversal. The reverse applies in a downtrend when the OTT line is red. Here's a chart . . .

 

Thanks for the feedback

Believe it or not I cleared a lot of the fluff out of that chart lol.

I agree that there are many ways of reading charts and tools and techniques to employ. I'm only really starting out, not even really using them to invest for now. Just seeing if I can come up with any sort of prediction. Making a record of it and seeing if it comes good and what time frame.

I don't tend to look at moving averages as I struggle to see how they can predict the future trend and suggest when the next move could come. I tend to keep an eye out for patterns like channels, wedges and flag patterns.

[SidS]

£19.99 by Xmas anyone? Maybe my prediction will be accurate... for once.

[BLOOMMAN101]

26 minutes ago, SidS said:

£19.99 by Xmas anyone? Maybe my prediction will be accurate... for once.

Xmas which year mate?

[EdwardTeach]

If the banks crash I see a > £25 silver by Xmas.

Don't ask me to put my money where my mouth is though. I'm not brave.

[SidS]

2 hours ago, BLOOMMAN101 said:

Xmas which year mate?

This year. 😁 Really bullish I know! 😁

Edited August 24, 2023 by SidS

[gji25]

The all time gold high will be november 2023 apparantly.  A weatherman told me 👍

Whoops. wrong thread 😕

 

Edited August 24, 2023 by gji25
wrong thread

[BLOOMMAN101]

Rafi is an acquired taste but some interesting charts inc silver and palladium, which is off on a nice little run this afternoon 
Jump the first 6 minutes (just a stock recommendation)

https://www.youtube.com/watch?v=DeolEFkiRDY

[katyc]

I'm sat at my desk trying to get my VAT return done with this guy creaming his scruds about silver on YouTube in the background. Does anyone understand what he's trying to say in a nutshell?