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Gold & Silver in a LT rally

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Here's an interesting chart. Very large spike in volume.

 

GCY00_Barchart_Interactive_Chart_08_26_2020.png

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Art thou gearing up for another thrust higher, Samwise Gamgee? 😘

 

Spot Gold_20200901_02.26.png

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I saw it coming before it happened - honest! 🤪

 

Spot Gold_20200903_07.44.png

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Collapse in gold and silver continues.  A short looks tempting.

 

Spot Gold_20200908_04.06.png

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Long U.S. dollar, short indices, short oil, long gas, and short gold 😮

 

Spot Gold_20200924_06.04.png

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On 16/09/2020 at 07:54, dmedin said:

We will be back above $2000 an ounce soon.

You retard 🤣

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I dunno man, it looks like silver is likely to keep selling off for a time.

 

Spot Silver_20200930_22.01.png

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Gold and silver have made a breakthrough :)

 

Spot Gold_20201002_07.44.png

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Do you like my triangle, Barbara? 😘

 

Spot Silver_20201002_16.20.png

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Do you reckon it will break down below 1850, Eileen? :(

 

Spot Gold_20201004_11.09.png

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I wouldn't short gold in these times. I think most would agree the long term trend is bullish. I can't see silver dropping back down to sub $20 and that is the next resistance levels if newer recent lows are continued. I got into a small long position in silver last Monday, have moved my stop to cost neutral and it's 200 points or so in the green now. That said I wouldn't be surprised if it tests that $22 price point again. Would reflect the same for Gold but I tend to trade silver as it always has more volatility to mess with.

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I suspect that gold is going to do a poo, Eileen :(

 

Spot Gold_20201008_15.45.png

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On 06/10/2020 at 11:16, BiGs said:

I wouldn't short gold in these times. I think most would agree the long term trend is bullish. I can't see silver dropping back down to sub $20 and that is the next resistance levels if newer recent lows are continued. I got into a small long position in silver last Monday, have moved my stop to cost neutral and it's 200 points or so in the green now. That said I wouldn't be surprised if it tests that $22 price point again. Would reflect the same for Gold but I tend to trade silver as it always has more volatility to mess with.

 

True.

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Posted (edited)

It's either the beginning of an up move (higher low to be confirmed with a higher high) or it's heading to $21.65 or lower.  Not tempted to trade it either direction at the moment myself.

 

Spot Silver_20201008_15.55.png

Edited by dmedin

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On ‎12‎/‎08‎/‎2020 at 09:28, elle said:

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chart updates

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Silver too for good measure my sweet 😘

941959661_SpotSilver_20201009_14_59.thumb.png.97b1a198b36d7fa8a7e616868867a9aa.png

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Very close to T1

412.thumb.JPG.cbe72a85b8e2a819edb3030cee81273c.JPG

 

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    • with the previous hour's candle completed, Monday's low became a third-order Grimes pivot point - taking this as a signal would have resulted in closing the short 400 points below entry: I find this interesting.  of course this a sample of one so absolutely not representative.  and there are probably easier ways to come to the same conclusion - e.g. selling after a pronounced up-move once two lower highs emerge, or breakthrough the approximate neckline of a h&s pattern, and buying once a low held a very close test and a re-test would have lead to the same here...  also kinda would require 24/5 monitoring... will try to work on a plan addressing these issues   
    • this probably should have been ignored, but IMHO it was a new low.  obviously jlz tried to help someone here, and referred to others to add emphasis to a point.  I'm writing this because I actually asked for support in my earlier response, and I'm very pleased I'm not the only one who reacted to this post thoughtfully, so I think it would be pretty weak if I didn't speak up here. That may make me look ridiculous, and like my tongue is now travelling through a bunch of cracks, but I don't give a **** (like I think you would not either).    I'm actually surprised that you @dmedin  left it to this statement - usually you're significantly more effective in warning people of the hazards we face as retail punters IMHO - I think you definitely had stronger moments. you know what I would find useful:  having a separate, focused thread for insults  - I'm sure by now the respective targets wouldn't mind (to not again say not give a ****), and other discussions could become - let's say "leaner". I genuinely think I got a lot of valuable insights from many of your posts here, and I highly appreciate the honest feedback, and I also believe you have good intentions. I don't know about any history between you, jlz, THT, and Caseynotes.  I further think you play an important role here in this forum and I look forward to more productive discussions with you. But the post quoted above was a new low.     
    • Wall Street holding up still 🤔  
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