Tag: SILVER

Ten charts that prove Technical Analyis is valid and PATTERNS exist and give you an EDGE

CLIFF NOTES: in Mark Douglas’s amazing work, on page 132 of Chapter 8 he defines an edge as “nothing more than an indication of a higher probability of one thing happening over another.”  My edge is pattern recognition based on square roots and the inverse of those square roots.  As my friend and mentor Larry Pesavento (www.tradingtutor.com) said “defy the human condition and do the work.”  If you spend as much time as I have in front of charts you’l find that in the midst of the chaos there is patterns that appear and they give you an edge.

My exemplar below is, simply, silver and the PATTERN that existed from $8.00 to 50 and then back down and the PATTERN that is now coming into play at/around 14. What does this mean? Well, see above – it mean it’s an edge and it might hold and, then again, it might not.

All of these charts are real time w/ ZERO “could of, would of, should of” … the PATTERNS work, technical analysis works and get ready to rumble at 14/oz.

ROCK ON, ok?

ONE: note the red line - EXACT same corrective move DOWN into 8/oz
ONE: note the red line – EXACT same corrective move DOWN into 8/oz

 

TWO: I like the symmetry, I like the mirror image fold back and I LOVE the EXPLOSIVE MOVE UP back in the past - BUY at 8
TWO: I like the symmetry, I like the mirror image fold back and I LOVE the EXPLOSIVE MOVE UP back in the past – BUY at 8

 

THREE: here we go ... NOBODY BELIEVED ME WHEN I SAID GET IN FOR A POTENTIAL $50 dollar target
THREE: here we go … NOBODY BELIEVED ME WHEN I SAID GET IN FOR A POTENTIAL $50 dollar target
FOUR: the geometry at the top that was completing the foldback pattern from the past - time to short
FOUR: the geometry at the top that was completing the foldback pattern from the past – time to short
FIVE: symetry and measured moves complete - sure looks like falling off a cliff on the other side of the foldback
FIVE: symetry and measured moves complete – sure looks like falling off a cliff on the other side of the foldback

 

SIX: the game plan of the correction unfolding
SIX: the game plan of the correction unfolding
SEVEN: 3 waves up complete - looks like a FLAT CORRECTION - here comes C
SEVEN: 3 waves up complete – looks like a FLAT CORRECTION – here comes C
EIGHT: triangle 4 then a plunge into the 14 area seems like a PROBABILITY
EIGHT: triangle 4 then a plunge into the 14 area seems like a PROBABILITY
NINE: continued look at the potential for the fall into the 14
NINE: continued look at the potential for the fall into the 14
TEN: Silver as of 05/29/2014
TEN: Silver as of 05/29/2014

Silver and 14/oz

Cliff Notes: sure looks like a 4th wave triangle working out …a,b,c,d,e and we are in a rally up for e and then down into 14.  EXPECT 14 to be BIG TIME support.  Also, this is showing the high as 3.  I have mentioned before I am really not sure if it was a 3 or a 5.  BUT a BULLISH pattern is at 14.

 

Main20140426144330

 

 

 

 

 

 

Silver following the script part III

for a view of Part 1 and Part II of “Silver following the script” please see the following: http://bartscharts.com/2013/11/08/silver-following-the-script-part-ii/ this will take you to Part II and inside of Part II is a link to Part I.

Summary: key level is 19-60-19.80 on spot silver.  IF that gives away, THEN an move into the 13-14 region is a real possibility.

update on Spot Silver
update on Spot Silver

 

daily update showing the key level
daily update showing the key level daily level (blue ellipse)

 

silver following the script – part II

the first post on Silver:

http://bartscharts.com/2013/09/05/silver-following-the-script/

here is an update to the chart .. if our 4 is correct, we should see a strong move to the downside start to develop as we are then POTENTIALLY in a wave 3 of 5 of the 5th and final wave down into our BUY zone of 14.  the only thing we need to contend w/ is IF (the BIG IF) the 50ish level was a macro 3 or 5.  I can move into either camp …however, I do believe 14 will give us a nice buy signal (the first one in 2+ years)

the chart:

silver update
silver update
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