Silver

[Asif777]

2 great shorts today, but had to close the third break even as silver didn't want to go down that time.

I'm still thinking shorts, but the chart does look a lot more bullish after today.

[Hanif484]

Still I had a great time shorting during euro-session Now flat, deciding whether or not to enter short again. The reason I'm doubting is that price broke out of a flag on the lower timeframes.

[Tanveer333]

Not so miserable after all. On my chart it didn't close as a div bar, pinbar, hanging man or whatever you want to call it. After being down a little today we're already back at the pricelevel of yesterday's close. However, I believe we might see a retrace pretty soon. I hope not too far down so the uptrend stays intact for moves higher than what we're seeing now.

[Asif777]

Weeell, I don't exactly count them. I only care about waves when I see an entire elliott wave sequence ending, and to show me where the corrections and sidewave moving markets are going to be. I don't go "this is wave 1 of 3 of a of 5." That doesn't work, at least not for me. I stay with the overall trend and buy and sell based on fractals and divergent bars. That means I will always trade with the direction of the overall elliott wave sequence, whether it's a 5-wave move or 3-wave move, and never go against it until I see it ending in the indicator which you see at the bottom of my charts. It tells me what wave we are in, but as I said, it really is only important at certain times of a sequence.

[Hanif484]

The same is true for price on my chart.
I honestly have to tell you that I don't care about double tops, dojis, hammers, descending triangles or all the stuff of pure technical anaylsis. I look at it from the wave perspective. And they are telling me that this is going higher. So, I just ignore what would be a double top and stay long

This is really looking at it from what it looks like would be a longer timespan for you. I don't care what price does until it closes below the green MA-line that you see on my chart. That means, I trade off of the dailies and don't bother about smaller retracements.

[Tanveer333]

And a good week you had, congrats!

Question: looking at your chart this looks like a perfect double top. Is that so? On my chart price overshot by about 0.1 dollar, and as I'm a perfectionist I do not consider that a double top

[Asif777]

Nice wednesday and thursday we saw in silver (and gold...). Price shooting up that much is almost scary. I think it's going to continue upwards even if not with that much speed. We'll see, but I get the feeling we are getting a good trend upwards here now, especially since it almost broke the weekly fractal today already .. shouldn't be too long until a buy signal occurs there as well.

@hell: I only trade dailies .. like to catch the entire price movements of some weeks.

[Hanif484]

You made alot of money today! And so did I

Posted my daily charts here.

Tomorrow I won't trade as it's NFP day, but I will be around to look at the action.

[Tanveer333]

I suppose both works, just depends on what you like better. Intraday is a lot more hassle .. longer trades take patience. As long as you're getting more and more profitable it's all goood.

[Asif777]

I'm a scalper baby! Unless a scalp becomes a trade, but even then I ensure to be 100% cash by the time the market closes. But you are right that it is usually better to go with the trend than against