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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #48,901
  • Aug 21, 2012 9:57am Aug 21, 2012 9:57am
Quoting PipTrapper
If 1.2500 breaks, it does not necessarily mean that price has to go to the next major supply zone before reversal. Think of the underlying factors that drive the market...
I agree. There are much more obstacles in the way, but from only a supply/demand perspective, that is the next major zone.
  • #48,902
  • Aug 21, 2012 9:58am Aug 21, 2012 9:58am
Quoting Ken A
Anyone knows why silver gains most today 2.48% @ 29.39?
A lot of traders were Long. (No pun intended).
  • #48,903
  • Aug 21, 2012 9:59am Aug 21, 2012 9:59am
Quoting FXSwissTrader
I agree. There are much more obstacles in the way, but from only a supply/demand perspective, that is the next major zone.
Agreed. Just wanted to point out that Sup/Dem is not the holy grail
It does work amazingly well when price is in that region for other reasons though.
Those who say it cannot be done should not interrupt those who are doing it
  • #48,904
  • Aug 21, 2012 9:59am Aug 21, 2012 9:59am
Quoting FXSwissTrader
A lot of traders were Long. (No pun intended).
LOL

There must be a reason why people are buying silver. Just trying to understand what they are seeing in silver.
  • #48,905
  • Aug 21, 2012 10:02am Aug 21, 2012 10:02am
Quoting FXSwissTrader
A lot of traders were Long. (No pun intended).
As in Long Dong Silver?
Those who say it cannot be done should not interrupt those who are doing it
  • #48,906
  • Aug 21, 2012 10:02am Aug 21, 2012 10:02am
Quoting PipTrapper
Agreed. Just wanted to point out that Sup/Dem is not the holy grail
It does work amazingly well when price is in that region for other reasons though.
Come on bud. I was born at night but not LAST night!
  • #48,907
  • Aug 21, 2012 10:04am Aug 21, 2012 10:04am
Quoting PipTrapper
As in Long Dong Silver?
YEP! You saw right through it, didn't you?
  • #48,908
  • Aug 21, 2012 10:05am Aug 21, 2012 10:05am
Quoting FXSwissTrader
If 1.25 breaks, the next major supply area is not til 1.2670/90 price area.
You are right and I'll definitely short it from there. Looking at the charts in July 2510/20 was a 4HR reversal point half a dozen times at least. I guess more like 1.2510/20/30
Be hopeful in a winning position, and fearful in a losing position.
  • #48,909
  • Aug 21, 2012 10:06am Aug 21, 2012 10:06am
Quoting PipTrapper
Yes it is due to correct now. It is seriously overbought. The only question now is how much of a correction do we get before another test of the high, which is very likely.
I guess it wasn't much of a correction.
Anyone trying to buy dips today is out of luck. No dips. Just a straight line up.
Those who say it cannot be done should not interrupt those who are doing it
  • #48,910
  • Edited 10:20am Aug 21, 2012 10:07am | Edited 10:20am
Quoting Ken A
LOL

There must be a reason why people are buying silver. Just trying to understand what they are seeing in silver.
Silver production has peaked, this year gold and silver mining ratios are below 10:1.

It's about as important to technology as oil is to our ability to transport goods.

Gold falls less, silver rises more. Over the long term (since the lows at $4.50 and $300 or whatever it was) they are both at around 500-600% increase

Edit: Crudes also up about 900% from the lows (very short lived around $10)
Be hopeful in a winning position, and fearful in a losing position.
  • #48,911
  • Aug 21, 2012 10:08am Aug 21, 2012 10:08am
  • #48,912
  • Aug 21, 2012 10:15am Aug 21, 2012 10:15am
Quoting Rag2RichesFX
Silver production has peaked, this year gold and silver mining ratios are below 10:1.

It's about as important to technology as oil is to our ability to transport goods.

Gold falls less, silver rises more. Over the long term (since the lows at $4.50 and $300 or whatever it was) they are both at around 500-600% increase?
Thanks.
  • #48,913
  • Aug 21, 2012 10:16am Aug 21, 2012 10:16am
Quoting PipTrapper
I guess it wasn't much of a correction.
Anyone trying to buy dips today is out of luck. No dips. Just a straight line up.
Can't last too much longer. Take a look at 1Hr & 4hr charts of S&P, Dow, U/CAD, A/U, G/U, ect...
  • #48,914
  • Aug 21, 2012 10:18am Aug 21, 2012 10:18am
Quoting Ken A
Thanks.
No problem, there is good information out there as to why its a good investment.

Not to mention silver is well below its highs in 1980 ($50) and inflation adjusted highs ($150) but gold is not, it's above. So there is some catching up to do and the gold silver ratio is much too high (its about 50-60:1)
Be hopeful in a winning position, and fearful in a losing position.
  • #48,915
  • Aug 21, 2012 10:19am Aug 21, 2012 10:19am
Quoting PipTrapper
Yes it is due to correct now. It is seriously overbought. The only question now is how much of a correction do we get before another test of the high, which is very likely.
Hope you don't take this the wrong way PT, it's in jest...

Weren't you the one that once told me that there's no such thing as "Oversold" in a downtrend? Looks to me where's in an uptrend so there's no such thing as overbought
I observe your reality but live my own.
  • #48,916
  • Aug 21, 2012 10:19am Aug 21, 2012 10:19am
Think we may have found a bottom for UCad?
Defending Truth, Capitalism and the US Constitution
  • #48,917
  • Aug 21, 2012 10:22am Aug 21, 2012 10:22am
Quoting jarhead
Think we may have found a bottom for UCad?
Maybe. It's a stubborn pair. You have to watch oil prices as well as equity markets to trade U/CAD intraday IMO. I have a pending buy limit at .9805.
  • #48,918
  • Aug 21, 2012 10:24am Aug 21, 2012 10:24am
Quoting jarhead
Think we may have found a bottom for UCad?
If I have a way to know for sure, I will be buying a lot
  • #48,919
  • Aug 21, 2012 10:25am Aug 21, 2012 10:25am
Thinking we go back to 2440 at least
Be hopeful in a winning position, and fearful in a losing position.
  • #48,920
  • Aug 21, 2012 10:28am Aug 21, 2012 10:28am
BTW - I'm short G/U at 1.58 as it is a good R/R entry, off a supply/demand zone overshoot and near the 3rd standard deviation of the 30 day market profile VWAP. VWAP is also below PVP and this confirms shorting only. Price should travel back towards the PVP as it is pretty much in no man's land.
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