Gold and Silver charts

Discussion in 'Bullion Investing' started by EdThelorax, Dec 12, 2018.

  1. EdThelorax

    EdThelorax Well-Known Member

    Silver is likely to perform just like 2003/4 2005/6 2010/1 and 2015/6.
    Up, sideways, up, sideways, up for about 6 months then down for 18 months.

    [​IMG]

    The chance of gold hitting these targets has increased greatly with the breakout of the pattern.
    [​IMG]
     
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  3. EdThelorax

    EdThelorax Well-Known Member

    That took longer than expected, but first target hit.
    [​IMG]
    Silver found that orange resistance, made a flag of it's own.
    I made a bunch of miner charts, big money coming soon.
    [​IMG]
     
  4. itm389

    itm389 Member

    Hey I like your charts man. No useless indicators all over that just show previous data and are lagging. Trendlines are spot on although not a big fan of moving averages...you only know theyre right until after the move. But seriously though really dont get all the hate against charts and TA. What do people think moves markets? People buying/selling at support and resistances...thousands of traders use charts and are successful and make money doing so. Its not just some hocus pocus gambling game. You have multiple people looking at a certain area of interest in a chart, when price gets there things happen. Either people buy or sell. Its just a visual representation of price movement. If we didnt have charting and ta the markets would just be a game of roulette.
     
  5. itm389

    itm389 Member

    Also are you looking at $26 for silver for profit taking if it gets there? We're gonna have strong resistance there after all those tests and bounces on the way down from the top. If we get through 26, 31ish is next as thats the major 50% retracement fib.
     
  6. EdThelorax

    EdThelorax Well-Known Member

    Thanks! I don't let haters get to me, they help me get my story straight so to speak.
    I took the $17.70 off of the silver since it didn't make it. It did find the red TL though.
    I will wait to see how things progress before making a decision on where to Take Profit (TP) 21 and 26 are definitely candidates. Most of my holdings are miners which are somewhat self-determining and physical which I hold for very long-term.

    I post many more charts on my website and update them more often.

    [​IMG]
     
  7. itm389

    itm389 Member

    Looks like silver is holding support today. Should test higher this week me thinks. Equities look like they could rolling over today too. What are your thoughts on platinum? Looks like how silver was looking earlier this year. I have a little but premiums are just ridiculous and make it hard to find a deal.
     
  8. EdThelorax

    EdThelorax Well-Known Member

    Platinum and Palladium are somewhat inter-changeable for use in catalytic converters. It just takes a long time to re-tool a factory. With Pd being so much higher than Pt, I believe there will be a move back to Pt.
    [​IMG]
    [​IMG]
     
    yakpoo likes this.
  9. itm389

    itm389 Member

    You know what I had that same idea with the catalytic converter theory awhile back. Dont really know why theyre still using palladium. I do know platinum is more dense and possibly harder to work with? Idk. I just wish I could get my hands on some more without paying the crazy premiums.
     
  10. EdThelorax

    EdThelorax Well-Known Member

    The few times I have found either Pd or Pt near spot have been at my local dealers and coin shows. IMHO, silver is a way easier trade.
    If storage is an issue, buy USLV or one of the few miners like EXK PAAS or WPM.
     
  11. EdThelorax

    EdThelorax Well-Known Member

    [​IMG] [​IMG]

    Lucky guesses.
     
  12. EdThelorax

    EdThelorax Well-Known Member

    Gold is near target of 1560 now $1543 and silver hit target of 17.70, nearing next at 18.34 Now $18.15
    If you longed based on these, take the profit. It's way too much to risk on just a little more.
     
  13. EdThelorax

    EdThelorax Well-Known Member

  14. -jeffB

    -jeffB Greshams LEO Supporter

    Not to stir up the linguistically-fussy readers, but: "Woof."
     
    Heavymetal likes this.
  15. itm389

    itm389 Member

    You take a position in platinum Ed? TA is edited right :happy:
     
  16. EdThelorax

    EdThelorax Well-Known Member

  17. -jeffB

    -jeffB Greshams LEO Supporter

    Heh, an interesting 24 hours for the (stage whisper) gold-silver ratio...

    [​IMG]

    I have no idea what it means, and I'm still not buying or selling.
     
  18. Derek2200

    Derek2200 Member

    Interesting, great analytical chart Ed thanks for showing.
     
  19. juris klavins

    juris klavins Well-Known Member

    No disrespect to Ed & his chart work, but one good (bad?) geopolitical incident might throw all the PM charts into disarray :eek:

    0bd0349336d3f37c99396b95b0eef753.jpg
     
  20. Southpawdon

    Southpawdon New Member

    If gold and silver have no intrinsic value, then their value must be defined by the collective view of those willing to put up funds for them. As such it seems to me as if the charts display all of the competing views of value present at the time of price setting. Accordingly there is great value in the historic charts. Unfortunately we seem to be unable to assign sufficient weights to the forces that result in historic prices. There are theories, views, opinions that are used to make forecasts of future value and depending upon the collective view of those ideas tomorrow's price results. Since I am sure that tomorrow's views are heavily influenced by today's results I find it hard to believe that technical analysis has little value in helping to forecast tomorrow's price.
     
    EdThelorax likes this.
  21. Rob943

    Rob943 Member

    "Crazy right wingers" Why can;t one use this term when clearly "crazy left" is allowed. Clarification please.
     
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