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June 18th 2020, Silver Chartbook – Make it your own

Korbinian Koller, Midas Touch Consulting
0 Comments| June 19, 2020

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Make it your own

Trading is often compared to professional sports. This not only due to the competitive element. To produce outstanding performance different methodologies are required to reach elevated performance levels. Successful market participation is not achievable through a cookie cutter school program. It is highly individual in nature since personal psychology is such an essential ingredient for consistent results. Dissatisfied with actual application of classical Kung Fu teachings the bullied Bruce Lee created a four step principle based system for himself. He transformed classical school training into outstanding performance. Make it your own!

The four pillars of his training were:

  • Research your own experience
  • Absorb what is useful
  • Reject what is useless
  • Add what is specifically your own

One should literally do the exact same thing in ones trading and investing educational approach.

Silver, Monthly Chart: Neutral

Silver in US-Dollar, monthly chart as of June 18th, 2020.

After a swift move through the long term established side ways range on the monthly chart, prices trading sideways to take a breather. Near the US$16.50 price zone a triple moving average support zone starts to build, providing support for long term investor entries. On this chart the setting for the simple moving averages are 20, 40 and 200 period. Hence, from this time frame perspective we a find a neutral stand of the silver market and its price development.

Weekly Chart, Silver: Bullish

Silver in US-Dollar, weekly chart as of June 18th, 2020.

Looking at the weekly chart we can identify a weekly range within the monthly range. While the monthly chart ranges from roughly US$13.75 to US$18.50, a sub range in the weekly chart can be found from US$16.50 to US$18.50. This isn’t the only bullish signal though. At a closer look we again find a triple moving average support in the building process and a bullish reversal pattern setting up from a candle stick perspective.

Silver, Make It Your Own, Daily Chart: Bullish

Silver in US-Dollar, daily chart as of June 18th, 2020.

A daily view at the market shows the directional price support. This time frame gives a clear signal of bullish momentum as discussed in our free Telegram channel. A fractal support zone near the US$17.00 price level in conjunction of a strong rejection of price from the lower channel support on 6/15/2020, tell the story of the bulls holding the better cards.

Make it your own

It is futile to try finding the holy grail. Not only does it not exist but even if there would be such a cup, one couldn’t drink from it. Each market participant needs to find out whats suits his or her personality. There isn’t a fix recipe or common secret that can be shared and success in the markets sets in motion. We try to share in each weekly chartbook publication a principle. One piece to the puzzle. As a reader you have the opportunity to add these morsels of trading edges to your own approach. Create your own puzzle to build the perfect picture that suits your trading style. We full-hearted believe in “Make it your own.”

We post real time entries and exits for the silver market in our free Telegram channel.

If you like to get regular updates on our gold model, precious metals and cryptocurrencies you can subscribe to our free newsletter.


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