Automated Trading Profit > A Monthly and Weekly View of Silver

[Free Daily Swing and Day Trading Stock Picks - Stock Charts - Education] Wave 1 took us to 2004 highs of $8 per ounce before a lengthy, two-year correction held prices in a tight range on the rising 20 month EMA until price broke higher into 2006 when silver doubled to $15 per ounce and then flatlined in an “ABC” flat correction - also supporting at the rising 20 month EMA before embarking on a final up-swing to new highs above $21 per ounce which peaked in Wave 5 in early 2008.

Previous [Previous] Post of the Day: Trading Counter Trend (Daily FX) | Fo...

Next [Next] Interactive Brokers API...

Some related posts from Technorati and Google.

[Afraid to Trade.com Blog] Gold at Resistance - Watch Closely: With TradeStation, I view continuous futures data, which creates different structures (in terms of indicators and EMAs) but I compare it to the GLD as well as have a separately designed chart that corresponds to the stock market times. I don’t trade in the overnight session, but find the gold market making good swings earlier than the NY open at 9:30 (sometimes as early as 7:30 EST or so).

[The Money Blogs - Blogs all about money] Waiting for the trend resolution... | The Money Blogs: A close above the December 9 high of 30.83 should trigger substantial upside momentum in the intermediate-term, while a close below the December 12 low of 28.47 could easily reignite the bears. Since the S&P 500 and Dow Jones Industrial Average have similar chart patterns to the Nasdaq 100, there really isn't much to do until stocks clearly resolve themselves in one direction or the other.

[: iStockAnalyst.com Symbols Feed] Gold, Oil, Dollar, NASDAQ: Gold prices suddenly and violently failed at a test of the falling 20 day EMA. This was an “Impulse Sell” trade as I define it, and also a semi-flag pattern.  Today’s failure was harsh and notable.  Thursday and Friday gave us candle pattern sell signals (shooting star and then semi-doji) at resistance, but the harsh failure today (and range expansion) was likely unforeseen.

[Cara Community - Comments] Cara's Commentary & Community Chat, Thurs., Dec. 11, 2008 | Cara ...: :) I am canceling the buy limit orders I placed today for SLW and SWC, and instead placing a sell stop limit order for all my 600 shares of TCK (stop 4.13, limit 3.8) and for 1000 shares of SWC (stop 3.85, limit 3.5) out of the 5000 shares I have. Also, widening the gap in my sell stop limit order for FRG (stop 2.38, limit 2.2).

[Bill Cara] Bill Cara: Cara's Commentary & Community Chat, Fri., Mar. 21, 2008 ...: "There is still no doubt that the majority of specialist gold market observers are looking for a return to higher prices over the next few weeks as gold price fundamentals remain exceedingly strong as Central Banks and institutions battle to counter the effects of the ever continuing global financial crisis. Much will likely depend on institutional liquidity, but the big climb back into the market from the jewellery sector should ensure that demand remains strong, at least at current prices, and the downside risk is thus more limited."

Reflected tags on Technorati: Blog, ,