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Silver on a “Monthly and Daily” basis is making progress at breaking key resistance lines.
Game Plan… Nice break of short-term resistance looks to be taking place. Silver remains looking strong above the “cross-roads” of support at (2)/(3). Use this crossroads of support as your guide line for long Silver (SLV) positions.
John… We are still in SLV, remains above support key support line, still in its rising channel. See the channel I am speaking about at this link, lower left hand chart of the 4-pack.
https://www.kimblechartingsolutions.com/2011/04/gold-is-breaking-out-of-a-multi-month-channel-and-the-minors-are-facing-a-major-resistance-test/
Glad you are benefiting from the “Power of the Pattern!” Speaking of the 1980’s, I started in this business in 2/1980. Hard to believe I have been at this for 31 years! I consider myself lucky that I got into this industry at 23 years of age!
Chris —
I stopped out on my trailing stop on SLV today. Did your position also stop out, or was my stop trailing to close? Back in the 80s I was a young stockbroker with several clients who would come into the office everyday to read the tape. I never did manage to learn how to read the tape like them. I think I am at least starting to learn how to read the patten from you. Thank you.