How do I measure a target price for SLV out of the triangle?

man did spike down. I took a quick scalp trade on that move down and back up. however, I bought my longer term trade at around 19.91 so I'm still underwater on that one. Why so volatile i wonder.

bought SLV at 18.34. Only about half a position, though. If it goes down close to support I'll add to it.

and I do in fact look at just about all the charts from Steve and Matt and some of those posted here. But I am trying to balance trading with family and a part time job, so until I have more time spent analyzing charts to a point where I can expertly draw my own charts and reach my own conclusions, learning from others (most prominently Steve and Matt) is an essential of my strategy. It's that or else give up learning in real time for a number of months while I study. Which may be a good route, but may just lead to procrastination of the studies (knowing me).

If others had only said "short the SPY!" or "don't short the SPY!" then, yes, that would be totally useless. But I figured people would bring something more to the table, and they did. Thanks everyone, btw.

Seems like a consensus - more upside yet. Maybe 1130 at least. Thanks everyone!

Actually so did I, back when it was about 112. But thinking of a straight short to add to my position. Maybe I'm too confident, though.

Is it time to short the SPY? Taking a poll! I'm thinking of opening a position.

Well, there goes the UCO trade!

Okay, I've been trading a little over a year, and having a hard time getting the hang of it. (Not losing overall, thank god.) I'm also new to this community, so be gentle! I took three trades yesterday, and all three are down. Your advice, input is sought on how I can improve my price entry and my overall thinking, discipline,  etc. Trades are below. Thanks, Roger

1. long SMG at 50.21. Down 1.5% at the close. It looked strong near the open based on price action (what am I talking about? do I know anything about price action? no....) so I bought it, knowing it was a recent BO.

2. long UCO at 9.54, also bought in the morning. Down 0.7% at the close. It went higher then reversed. Is this still a viable trade? I would think so based on Matt's analysis.

3. long DFT at 26.17 using a stop limit order. Down 1.5% at close. I thought I set the stop limit above the resistance line of the triangle pattern, but in hingsight it was too close, given that the price remains under that line.

As a new member and someone that has only done active trading for about a year, I am not familiar with your shorthand. Is the range of 37.30-37.22 a viable area to short JPM, once it breaks the lower support of the flag pattern? Thanks,

Roger

To Steve or Matt,

I am having a hard time drawing a clean support line under C (Citigroup). It looks like it's either right on a support line or has already broken through. Trying to decide if it's a good time to get in or a good time to get out! Wish I could add an image for you but don't know how. Can you tell me what you see in terms of support?

Roger