Polish my tea cup.
Silver - XAGUSD - SLV
- Thread starter TH Anlaysis
- Start date
@Swiss_cheese that chart definitely describes the market very well. It would talk a gold/silver ratio of 16:1 to allow silver to reach the targets projected from the completion of that pattern
Is that the longest cup & handle ever?
I think the chart is not meant for humans.
It is probably meant for tortoise which has a much longer life span.
It also means if you invest in silver, you have to wait for a few hundred years to profit from it.
And even then you might not make a real profit (after adjusting for inflation).
Although, in 2011, silver equaled it's previous ATH from 1980, it's a different story if you factor in inflation. It lost well over half it's spending power over that period.
https://www.macrotrends.net/1470/historical-silver-prices-100-year-chart
Silver would have to go up 5-fold now just to equal its inflation adjusted high in 1980.
The more I read threads like this, the more determined I am to hodl BTC. As traders, we all know trend is your friend and all traders need to find the strongest trend (hopefully uptrend) to trade with, do not trade range bound stuff, and try to avoid down trend stuff. We all know this on an intraday level so well, but why when it is on multi decade line chart or weekly/monthly/quarterly/annually bar charts, we forget about this important point of trading?
BTC and other cypto has the best upward trending chart, with plenty of healthy corrections (no, it is not the tulip bubble, stop insult your own IQs please), just trade those, basically, DCA in every dip, pick a time frame, and trade it, and take your profits on a grid or whatever ways that you are comfortable with.
Like any successful trader trading any strong uptrend products, trade like Forest Gump, and stop following Warren Buffet (https://www.stocksplithistory.com/, see how miserable his return is comparing to all those follow strong up trends) and stop worrying the sky going to fall.
“Far More Money Has Been Lost By Investors Preparing For Corrections, Or Trying To Anticipate Corrections, Than Has Been Lost In Corrections Themselves.” – Peter Lynch
BTC and other cypto has the best upward trending chart, with plenty of healthy corrections (no, it is not the tulip bubble, stop insult your own IQs please), just trade those, basically, DCA in every dip, pick a time frame, and trade it, and take your profits on a grid or whatever ways that you are comfortable with.
Like any successful trader trading any strong uptrend products, trade like Forest Gump, and stop following Warren Buffet (https://www.stocksplithistory.com/, see how miserable his return is comparing to all those follow strong up trends) and stop worrying the sky going to fall.
“Far More Money Has Been Lost By Investors Preparing For Corrections, Or Trying To Anticipate Corrections, Than Has Been Lost In Corrections Themselves.” – Peter Lynch
here is some analysis I posted elsewhere on my views of BTCUSD as it traded into the 50k level again. For me it was a bear market rally and that 44k was a good target.
I missed the market structure resistance above which did become the resistance level before 44k was eventually found.
To make sure I don't make the same mistake again, next downside target for the BTCUSD is 42k with 28k a big bear market target as the double bottom looks to inviting. 28k could become the lower bound of a sideways range with 65k the upper bound, which would then need a clear break and retest higher for the bulls to eventually get to 100k+.
I know Silver looks less attractive compared to the big swings in the cryptoverse but do you really want to hold through 20%-50% swings. Most retail traders I know bought the highs in Ethereum, watched it go down to 2k only to sell out and see their original idea work out.
There is nothing wrong with crypto from my point of view, it is trade-able so it is good. Technical analysis at least shows areas on a chart where risk can be reduced a little but these markets are complete speculation intraday with institutional investments growing long term.
My focus is on the US10 year yields which run inverse to the Gold closing prices. From the above chart the black line (US10Y) has been drifting lower since the June FOMC meeting where the Fed lifted the RRP by 5 basis points. Long term yields, 10-30 are lower with short term yields not as convinced. September FOMC may see another hike in the RRP and for me yields drift towards zero across the curve by which point Gold will be up above 2k