My man, you need to read about the fundamentals of silver.
What, why, when, who, where, and how much.
It's not going to dip 8 USD b/c a fibo or an indy tells you so.
Silver and Gold are COMMODITIES. They are not an infinite PRInTING PRESSES,, like the Federal reserve, the ECB, the BOJ, the SNB, the BOE, ETC, ETC, ETC have.
Commodities are not currencies, although SOME have value like GOLD, similar to money. (or a paper promissory note that can be devalued or re-valued with one swoop of a governments hand.)
Sugar and Pork bellies are not printed on a press. USD GBP CHF JPY $$$ are. Gold is not.
Start with MAJOR support and resistance, then add trend lines.
Next a moving average.
I only use RSI MACD and Stochs when i need to make longer term position plays and I cant tell what the price action is screaming.
Gold moves sideways a LOT. BUT, after a 100 USD move up it's called PARING GAINS and consolidation. Meaning the object has found a new price area in which both longs and shorts are comfortable OR at battle.
FOREX and GOLD is all about SuPPLY and DEMAND. News and techs when there are no news. That's the way I see it at least.
All are free to argue with me or voice there opinions.
Buy LOW sell HIGH and KISS -Keep it simple stupid.
There is no magic wand.
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If you dont KNOW THEN ASK. Please keep posting your questions as it seems you have gotten many responses.
Silver is slow until recently. Gold is your friend. Start focusing more on day trading GOLD and Position trading silver.
What, why, when, who, where, and how much.
It's not going to dip 8 USD b/c a fibo or an indy tells you so.
Silver and Gold are COMMODITIES. They are not an infinite PRInTING PRESSES,, like the Federal reserve, the ECB, the BOJ, the SNB, the BOE, ETC, ETC, ETC have.
Commodities are not currencies, although SOME have value like GOLD, similar to money. (or a paper promissory note that can be devalued or re-valued with one swoop of a governments hand.)
Sugar and Pork bellies are not printed on a press. USD GBP CHF JPY $$$ are. Gold is not.
Start with MAJOR support and resistance, then add trend lines.
Next a moving average.
I only use RSI MACD and Stochs when i need to make longer term position plays and I cant tell what the price action is screaming.
Gold moves sideways a LOT. BUT, after a 100 USD move up it's called PARING GAINS and consolidation. Meaning the object has found a new price area in which both longs and shorts are comfortable OR at battle.
FOREX and GOLD is all about SuPPLY and DEMAND. News and techs when there are no news. That's the way I see it at least.
All are free to argue with me or voice there opinions.
Buy LOW sell HIGH and KISS -Keep it simple stupid.
There is no magic wand.
------------------------------------------------
If you dont KNOW THEN ASK. Please keep posting your questions as it seems you have gotten many responses.
Silver is slow until recently. Gold is your friend. Start focusing more on day trading GOLD and Position trading silver.
DislikedWell the reason i don't trade gold is it costs a lot. And the method i am using for silver i would not loose a trade but in gold there is a good chance for loosing.Ignored
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News