Silver – Opportunities
Last weeks price behavior has brought proof, of why in our recent chart books, our recommendation was to stay on the sidelines. No position is possibility the most valuable choice at times in the market. It protects capital, reduces risk of exposure and provides firing power for the time when true low risk opportunities are arising.
Last week price action shows clearly the acceleration with a sell off on Friday nearing 3 percent!
Silver in US Dollar, daily chart as of March 3rd 2019 a
After taking profits in Zone 5, prices declined quickly back to Zone 3, taking out nearly two months of profits in a little bit over a week only. Resting on the 200 SMA (Simple Moving Average) with a supply demand zone as support, we could certainly see a bounce here.
Be that as it may, we do not see a low risk entry zone here just yet.
Silver in US Dollar, daily chart as of March 3rd 2019 b
Even with fractal confluence, we rather anticipate another week/weeks of unrest, before true opportunity will show its face.
Silver in US Dollar, daily chart as of March 3rd 2019 c
For the weekly and monthly time frame participant an entry price as aggressive as $15.04 could present itself, depending on market behavior, as an opportunity :
Silver in US Dollar, weekly chart as of March 2nd 2019
Where we truly see value is in the green entry zone. Here daily and long term players can negotiate great risk reward ratios for themselves.
Entries at prices between $14.81 and $14.96 would fulfill our low risk capital exposure rules:
Silver in US Dollar, daily chart as of March 3rd 2019 d
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