Hi all,
sell silver @ 41.62 for today.
Happy trading!
Meshach.
sell silver @ 41.62 for today.
Happy trading!
Meshach.
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DislikedI usualy plot the fibo buy the first reverse point. I do not plot from the top to the botton of the movement. I wait the the frst time that the market makes a low then I plot form this low to the top from this small movement.
I have seen some articles that the 434.6 is the strongest resistence or suport. Usualy the trades reverse from there. It can be used in any time frame. Here I show 2 graphs, one is the week and the other the month.
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DislikedLondon is the biggest market - google is your friend
Off the top of my head I seem to remeber the average DAILY gold traded in London in 2008 was about 22 million ounces though I believe that is subject to netting out so the real figure could be multiples of that......don't quote me though.Ignored
DislikedActually the emphasis in my question was on the transaction volume in silver. The link you posted really proves Harvey's point. Some other site indicates that the worldwide annual production of silver is really 200 million oz. I'm really surprised with the traded volume. Is it really like that? The entire annual silver production from the entire world is traded in one single day... as paper? In the "smaller" market (Comex)?Ignored
DislikedWhen I saw your chart I thought wow, quite a dramatic move, yet then blown up I realized it is a 5 minute chart.
I strongly suggest not trading Gold on anything lower than an M30 chart unless you are an experienced scalper and we are in range. Always refer to the daily chart for drawing strong lines.
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DislikedI usualy plot the fibo buy the first reverse point. I do not plot from the top to the botton of the movement. I wait the the frst time that the market makes a low then I plot form this low to the top from this small movement.
I have seen some articles that the 434.6 is the strongest resistence or suport. Usualy the trades reverse from there. It can be used in any time frame. Here I show 2 graphs, one is the week and the other the month.
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DislikedWent to discover why silver is the Devil's metal. Can't see it but likely Judas. Found the post I'd just done on Forex Factory already archived. Blimey Google is fast.
Saw this however.
"Those who are short silver must be sweating silver bullets right now. Many are saying if silver hits $47.00 it will cause JP Morgan to default and essentially it will be broke."
http://alshamy70.wordpress.com/2011/...-devils-metal/
Is there any substance to this?
If so what will be the fall out?
What is the...Ignored
DislikedJP Morgan couldn't deliver Silver to the Comex Vault so they went ahead and applied to be vault, which was approved in record time. Now they can "Deposit" the "physical" silver in their "own vault" vs. the Comex. That took care of having to deliver on the contracts. They are now buying Silver supposedly.Ignored
DislikedI think it would be cheaper for them to buy mining companies. After all it costs nothing to dig in out the ground. (LOL)Ignored
DislikedSIX GUN,
I like this longer time frame to have a better Idea. But I usually follow the trend based in a longer time frame like week and month. Then I get on the smaller like dailly chart and sometimes H4 in the direction of the trend. I use the Heiken Ashi indicator in the H4 as a stop.Ignored