Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Either way, is it possible for you to overlay the SP500 or DOW on some of these, to see how the instrument/sector is performing against the SP500 or the DOW?
Thank you for having this thread. SLV and GLD are two of my favorite instruments atm. But I am in the beginning of evolutionary era of trader and still much discovering.
As of today, 1 month after I started to trade, my favorite system is Ichimoku, thanks to great webinar.
With that here is what I think about SLV and GLD... Please let me know, if you can, how I do. It is best moral boost and build of confidence for me to hear any feed back from pros like you.
With that said...BEAR! but not for long....At the this point of year investors taking profits where they can to cover the loss on stocks...right, where else then precious metals that had a nice run up this year. I think Mike might have mentions about testing October lows on currencies, why not on metal, right?
Charts are looking certainly bearish. To me SLV is gold on steroids, so I compared too. GLD has the same trends but "more resistant to change" (if such phrase makes sense, ESL here).
On silver lows where as well in October, two big volume skies are on sells, Tenken line pointing down and below cloud, TKx strong bear (if continues), Kijun line flat-no price support?? over 52period historically, Chikou pointing down and crossed price line=BEAR. Stocks look over sold, referring back to taking profits for those funds managers as well as OBV dropping.... Charts are attached with my lows support line for the year... If trend changes at that level probably good time to look for longs as price gets back in Kumo.
Zeal do really good research on precious metals and commodities. I've been reading their articles every week for the last 3 years. Here's a link to their latest 2 articles on the seasonal patterns of Gold and the HUI index which explain the below charts in detail:
