$silver.. It posted a bullish hammer at the close at 2:40pm
yesterday, and the algos ramped the price up overnight. I did not
have a good conviction to buy the low a day before, as it was not
oversold. Now it is back to the prior levels. Could somebody
explain why algos bought it strongly?
Junie - Silver closed with a doji hammer like candle yesterday,
you could have bought the ETF in after hrs or something, which
trade until 8 pm. If you didn't buy it, don't get emotional about
it. Seems like people get more emotional about missing a
trade than they do getting caught in a horrible trade. always
another trade, keep emotional at bay, it just causes one to be
prone to making a rash emotional trading decision which
results in a real loss
Here is a screenshot of a spike up on silver futures yesterday
promptly after the futures closed at 2:40pm. Algos bought it after
a bullish hammer close on the daily.
Silver doesn't close at 2:40pm It basically trades 23 hours a
day with a break from 5:15pm to 6pm eastern time. The pit trading
hours are from 8:25 am eastern to 1:25pm eastern. Although trading
stops at 1:25pm in the pit electronic trading doesn’t stop until
5:15pm eastern. It starts up again at 6pm. Gold also had a spike at
2:40pm so don't think it was some plot by the algos on just silver.
Lots of times in the PM markets you will get spikes up or down,
could be running stops, etc. Sometimes it pays to fade the stops,
sometimes not.
A 49 cents move on $silver. The manipulation is over, the real
move begins. Could somebody report this blatant manipulation to the
CFC and London fix please?
On a separate subject, buying dips is the next step.
junkie - see my comments on Silver just below. A valid
trigger on that setup was a print above yesterday's high (hammer)
with a stop at yesterday's low. Nice move up after trigger -
trim and trail up stops in accordance with your style.
Thanks, Steve.. but I cannot do that intraday: I have a day job.
I need a lot more information than just candles, as I trade futures
with $10 per point.
Silver closes at 2:40pm Eastern, not at the 4pm as the indexes
do. At 5pm the move was already under way.
However, this entire move looks like a huge stop run (deliberate
manipulation by bullion banks). Was there a good reason to buy
technically after a 3.4% drop? Were any of the indicators
supporting a buy? Thanks for the info.
It may be a stop run but I was simply pointing out a valid
trigger and now one must manage the trade. Best wishes as
it's very hard to trade futures without being able to monitor the
entire day.
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$silver.. It posted a bullish
Posted by junkie on 30th of Jan 2020 at 08:48 am
$silver.. It posted a bullish hammer at the close at 2:40pm yesterday, and the algos ramped the price up overnight. I did not have a good conviction to buy the low a day before, as it was not oversold. Now it is back to the prior levels. Could somebody explain why algos bought it strongly?
Junie - Silver closed with
Posted by matt on 30th of Jan 2020 at 09:31 am
Junie - Silver closed with a doji hammer like candle yesterday, you could have bought the ETF in after hrs or something, which trade until 8 pm. If you didn't buy it, don't get emotional about it. Seems like people get more emotional about missing a trade than they do getting caught in a horrible trade. always another trade, keep emotional at bay, it just causes one to be prone to making a rash emotional trading decision which results in a real loss
Here is a screenshot of
Posted by junkie on 30th of Jan 2020 at 09:03 pm
Here is a screenshot of a spike up on silver futures yesterday promptly after the futures closed at 2:40pm. Algos bought it after a bullish hammer close on the daily.
Silver doesn't close at 2:40pm
Posted by victorh on 30th of Jan 2020 at 11:39 pm
Silver doesn't close at 2:40pm It basically trades 23 hours a day with a break from 5:15pm to 6pm eastern time. The pit trading hours are from 8:25 am eastern to 1:25pm eastern. Although trading stops at 1:25pm in the pit electronic trading doesn’t stop until 5:15pm eastern. It starts up again at 6pm. Gold also had a spike at 2:40pm so don't think it was some plot by the algos on just silver. Lots of times in the PM markets you will get spikes up or down, could be running stops, etc. Sometimes it pays to fade the stops, sometimes not.
A 49 cents move on
Posted by junkie on 30th of Jan 2020 at 10:57 am
A 49 cents move on $silver. The manipulation is over, the real move begins. Could somebody report this blatant manipulation to the CFC and London fix please?
On a separate subject, buying dips is the next step.
junkie - see my comments
Posted by steve on 30th of Jan 2020 at 08:51 am
junkie - see my comments on Silver just below. A valid trigger on that setup was a print above yesterday's high (hammer) with a stop at yesterday's low. Nice move up after trigger - trim and trail up stops in accordance with your style.
Thanks, Steve.. but I cannot
Posted by junkie on 30th of Jan 2020 at 08:57 am
Thanks, Steve.. but I cannot do that intraday: I have a day job. I need a lot more information than just candles, as I trade futures with $10 per point.
This EW could be true although I do not believe it fully: https://www.insidefutures.com/article/3127836/Elliott%20Wave%20View:%20Silver%20Has%20Scope%20for%20More%20Downside.htmlThe indices may go lower from here.
junkie - it was NOT
Posted by steve on 30th of Jan 2020 at 09:08 am
junkie - it was NOT intraday (they were daily candles and the trigger was after hours)
Silver closes at 2:40pm Eastern,
Posted by junkie on 30th of Jan 2020 at 09:16 am
Silver closes at 2:40pm Eastern, not at the 4pm as the indexes do. At 5pm the move was already under way.
However, this entire move looks like a huge stop run (deliberate manipulation by bullion banks). Was there a good reason to buy technically after a 3.4% drop? Were any of the indicators supporting a buy? Thanks for the info.
It may be a stop
Posted by steve on 30th of Jan 2020 at 09:20 am
It may be a stop run but I was simply pointing out a valid trigger and now one must manage the trade. Best wishes as it's very hard to trade futures without being able to monitor the entire day.