{"id":125476,"date":"2018-04-20T07:25:13","date_gmt":"2018-04-20T11:25:13","guid":{"rendered":"http:\/\/countingpips.com\/?p=125476"},"modified":"2018-06-01T15:39:51","modified_gmt":"2018-06-01T15:39:51","slug":"the-incredible-silver-trader-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/the-incredible-silver-trader-what-you-need-to-know\/","title":{"rendered":"The Incredible Silver Trader – What You Need to Know"},"content":{"rendered":"
April 20, 2018<\/div>
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By TheTechnicalTraders.com<\/a><\/strong><\/p>\n

Everyone is talking about the incredible price move in silver on April 18, 2018.\u00a0 For years we have been talking about the setup in the metals markets and alerting our members to opportunities as they arise. Recently, we alerted our members to an incredible opportunity in Silver and we caught this move before it skyrocketed higher.\u00a0 Now, everyone wants to know what\u2019s next.\u00a0 Here is our take on the Silver trade and what you need to know.<\/p>\n

All the technical and price valuation indicators regarding the relationship of Gold to Silver have been set for many months telling traders that Silver is the clear leader in any price advance in metals.<\/p>\n

Current open positions show that a relatively strong short bias has been in place in Silver for a few months.\u00a0 This adds to the potential of a massive short squeeze rally playing out over the next few weeks\/months.\u00a0 Additionally, as greater fear enters the markets, Gold and Silver will likely advance quite substantially.<\/p>\n

Technically, Silver has entered a new phase of trend on April 11, 2018 with a new price high that broke previous high price levels.\u00a0 This indicated that Silver may attempt a price breakout with a new bullish trend.\u00a0 Additionally, a convoluted FLAG formation completed near that same date and price began to oscillate between $16.00 & $16.65 \u2013 retesting support and resistance levels before the breakout new high on April 11.\u00a0 Our longer-term analysis, which we\u2019ll illustrate in the last chart of this series, was clearly showing us this recent price rotation was the setup of a Wave 3 price advance and we just needed to be prepared for it.<\/p>\n

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This, more detailed technical chart below, illustrates the April 11 new price high breakout as well as the rotation of the primary technical indicators near this April 11th<\/sup>\u00a0date.\u00a0 Even though we didn\u2019t have any clear closing price advance above technical resistance (near $16.80), we began to see upside pressure building that convinced us the time for the breakout was nearing.<\/p>

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Another key factor to keep in mind is that we had yet to see any real price advance with higher volume \u2013 a key element of any sustained price advance.\u00a0 Even as of today, we are seeing the first larger volume day with a moderate price advance.\u00a0 We do not consider this \u201ctechnical confirmation of any sustained upside move\u201d yet and we are still waiting for a high volume day with an accelerated upside price advance.<\/p>\n

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This, final, Weekly Silver chart below shows a clearer picture of what we are expecting to play out over the next few weeks and months.\u00a0 The $17.20 closing price on April 18th<\/sup>\u00a0was technically a \u201cconfirmed price breakout\u201d and established a new bullish trend in Silver.\u00a0 Right now, $17.45 is critical resistance and any closing price advance above this level will confirm an advance to near $18.35 (which will likely be very quick).\u00a0 $18.35 is the current upper resistance zone that price MUST breach in order to advance higher.<\/p>\n

All this analysis is based on Fibonacci price rotation theory which indicates that price will always attempt to establish new higher highs or lower lows.\u00a0 Thus, given the new bullish price trend, these upper resistance zones become targets for the future price advance in Silver.<\/p>\n

We would like to add that any price rotation where price drops near $16.75 or lower, yet stays above $16.00, should be considered a \u201cBuy Zone\u201d.\u00a0 This range is currently acting as price support and any retest of this range will likely result in a solid \u201cbuy entry opportunity\u201d.\u00a0 $16.00 is currently our hard support level, think of it like the water level in the pool.\u00a0 This means any price rotation below $16.00 would cause us to become much more cautious of any future price rally.\u00a0 The ultimate recent low, near $15.65 would have to be breached before we would consider this new bullish trend ENDED or OVER.<\/p>\n

Assuming we get additional higher volume price advanced in the near future and the upper resistance targets are hit and breached, our immediate upside objective is $21.25 and further upside targets can be identified as we do more detailed research.\u00a0 The upside potential of this Silver trade is immense and could last many months or well into 2019 or longer.<\/p>\n

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If you want to know what we are telling our members about this silver trade, then please consider joining\u00a0Wealth Building Newsletter<\/a><\/u><\/strong>\u00a0for more detailed Daily videos and analysis.\u00a0 You won\u2019t want to miss this move in the metals, folks.\u00a0 We\u2019ve been calling ETF trades for months with incredible accuracy.<\/p>\n

We know most of you who follow our analysis know we\u2019ve been calling these markets almost perfectly since well before the start of 2018.\u00a0 Visit\u00a0our website<\/u><\/strong><\/a>\u00a0to read more of our recent research reports and to learn how we can assist you in staying well ahead of these market moves.\u00a0 Our most recent trade for our members pulled +17.7% in just a few days.\u00a0 We can\u2019t stress the importance of having quality research partners to assist you in knowing what to expect in the markets and having a team of traders to assist you in finding great trades.\u00a0 We can help you find greater success and stay our of trouble in the markets.<\/p>\n

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By TheTechnicalTraders.com Everyone is talking about the incredible price move in silver on April 18, 2018.\u00a0 For years we have been talking about the setup in the metals markets and alerting our members to opportunities as they arise. Recently, we alerted our members to an incredible opportunity in Silver and we caught this move before […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-125476","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=125476"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125476\/revisions"}],"predecessor-version":[{"id":125477,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125476\/revisions\/125477"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=125476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=125476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=125476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}