Feb 17th 2019, Silver Chartbook

Silver in a Bullish Zone

As indicated in our previous Silver chart book, past week has been one of sideways trading. Silver bounced from the mean (thin blue line) and closed strong at the end of the week.

Silver prices resided in a Bullish Zone ideal for partial profit taking for longer time frame players with previous entries.

Profit taking target zone holds steady over last weeks time range:

Silver in US Dollar, weekly chart as of February 17th 2019

Silver in US Dollar, weekly chart as of February 17th 2019

For short term swing players a quick play to the upside is possible. We do not suggest a triangle breakout play but rather a entry zone of  $15.71.

Gold, showing relative strength in the precious metal sector, provides for the more attractive play for these lower time frames. Overall this is a Bullish Zone to rather take profits than expose oneself to the market, as indicated in the two previous chart book releases.

Silver in US Dollar, daily chart as of February 17th 2019

Silver in US Dollar, daily chart as of February 17th 2019

Our conservative stance is supported by possible low volume fake breakouts. Also, this coming Monday, 18th of February, there is a Federal Holiday coming up in the US (Presidents Day and Washington’s Birthday). On top, weekly charts indicate, that prices have advanced generously for more than 13 percent in a relative short period of time (= exhaustion).

Silver in US Dollar, weekly zone chart as of February 17th 2019

Silver in US Dollar, weekly zone chart as of February 17th 2019

That being said, on larger time frames we still have an upward bias with good support from lower time frames and as such have a likelihood for price levels advancing over the longer perspective.

Short time frame support:

Silver in US Dollar, four hour chart as of February 17th 2019

Silver in US Dollar, four hour chart as of February 17th 2019

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By | 2019-02-17T15:18:14+00:00 February 17th, 2019|Tags: , , , , |1 Comment

About the Author:

Outstanding abstract reasoning ability and ability to think creatively and originally has led over the last 25 years to extract new principles and a unique way to view the markets resulting in a multitude of various time frame systems, generating high hit rates and outstanding risk reward ratios. Over 20 years of coaching traders with heart & passion, assessing complex situations, troubleshoot and solve problems principle based has led to experience and a professional history of success. Skilled natural teacher and exceptional developer of talent.Avid learner guided by a plan with ability to suppress ego and empower students to share ideas and best practices and to apply principle-based technical/conceptual knowledge to maximize efficiency. 25+ year execution experience (50.000+ trades executed) Trading multiple personal accounts (long and short-and combinations of the two). Amazing market feel complementing mechanical systems discipline for precise and extreme low risk entries while objectively seeing the whole picture. Ability to notice and separate emotional responses from the decision-making process and to stand outside oneself and one’s concerns about images in order to function in terms of larger objectives. Developed exit strategies that compensate both for maximizing profits and psychological ease to allow for continuous flow throughout the whole trading day. In depth knowledge of money management strategies with the experience of multiple 6 sigma events in various markets (futures, stocks, commodities, currencies, bonds) embedded in extreme low risk statistical probability models with smooth equity curves and extensive risk management as well as extensive disaster risk allow for my natural capacity for risk-taking.

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