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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #48,901
  • Aug 21, 2012 11:57am Aug 21, 2012 11:57am
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 11:58am Aug 21, 2012 11:58am
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 11:59am Aug 21, 2012 11:59am
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 11:59am Aug 21, 2012 11:59am
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 12:02pm Aug 21, 2012 12:02pm
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 12:02pm Aug 21, 2012 12:02pm
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 12:04pm Aug 21, 2012 12:04pm
Quoting PipTrapper
As in Long Dong Silver?
YEP! You saw right through it, didn't you?
  • #48,908
  • Aug 21, 2012 12:05pm Aug 21, 2012 12:05pm
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 12:06pm Aug 21, 2012 12:06pm
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 12:20pm Aug 21, 2012 12:07pm | Edited 12:20pm
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 12:08pm Aug 21, 2012 12:08pm
  • #48,912
  • Aug 21, 2012 12:15pm Aug 21, 2012 12:15pm
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 12:16pm Aug 21, 2012 12:16pm
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 12:18pm Aug 21, 2012 12:18pm
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 12:19pm Aug 21, 2012 12:19pm
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 12:19pm Aug 21, 2012 12:19pm
Think we may have found a bottom for UCad?
Defending Truth, Capitalism and the US Constitution
  • #48,917
  • Aug 21, 2012 12:22pm Aug 21, 2012 12:22pm
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 12:24pm Aug 21, 2012 12:24pm
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 12:25pm Aug 21, 2012 12:25pm
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 12:28pm Aug 21, 2012 12:28pm
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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