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$1,391.7 gold futures

wrong thread, there is a dedicated silver thread to talk silver.

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Dabble010

3,951 Posts.

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19/02/21

20:42

Post #: 51171049
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Originally posted by Luca21: ↑

Quick update on the silver chart, reference my previous post (not gold however could have an affect on gold).

Chart 1: Silver daily chart

A huge potential fakey setup with pinbar occurring just above weekly and daily support. The fakey occurs when one or more inside candles trade within the limits of a larger candle (the mother bar) and is subsequently broken and regained (a false-break). This is a very powerful formation when combined with S/D or S/R levels and can indicate a substantial move in the opposite direction of the false break. As you can see this coiling formation followed by false-break preceded that of the meteroic rise to $30. If this pinbar closes within the limits of the motherbar (+$28.832) then it is potentially game on for silver.

Chart 2: Silver momentum chart

Once the 8 ema (yellow line) and 15 ema (blue line) flip on the 4r chart it could add confluence to the trade as an indicator that momentum is in our favor.

Fingers crossed.

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wrong thread, there is a dedicated silver thread to talk silver.

Value at posting: $1,391.7
2 Upvote

0 Great analysis

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