/biz/ - Business & Finance

>>54469573
>broken out
It's still testing

>>54469586
Try again. Silver stackers rise up

>>54469573
Next stop, $50

>>54469601
Horizontals trump trend lines every time. The Silver/ SPX horizontal is right into resistance. That's also not yet a breakout, retest and resumption. It's the set-up but no trigger. Close a couple days above ,006 and it might mean something

>>54470681
so is the idea that something has to stay above a resistance line for several days before you can confirm it's broken through? what even is the point of TA if you can't tell when it's *really* broken out?

>>54470707
>what even is the point of TA
to rationalize events after they happen

>>54470722
wow this was eloquent

>>54469618
I think it might go to 50 pretty quickly then dump weak hands out back down to 28 or 29 then it will go to triple digits. That's my prediction

>>54469573
you think you'll finally catch up with the premium you paid this decade?

>>54470863
yes, handsomely.

>>54470853
Spoken like true shitcoiner, you go gals

>>54470863
Insufferable faggot

>>54470887
I will put it this way,
>>54470863 never spit out a dick that accidentally fell in his mouth

>>54470853
I can’t wait to sell at $49 and re-buy at 31.

>>54470707
You know it's REALLY broken out once it's broken through and tested that trendline as a support level rather than the resistance level it once was.
When price retests a major support/resistance level that way, it will likely rebound and moon and you can take a long position with a take profit around the next structural support/resistance area, and a stop loss just under your initial trendline that price broke through and retested.

Make sense?

Oh also, it may not retest. It may just break through and moon without any actual serious confirmation beforehand.
If that happens, don't act like you missed out. Just wait until next time it's about to break out of a trendline again, then wait for it to retest and get rejected so it can moon. It increases the likelihood that your bet will be correct when you get that retest. It's worth missing out on the times when it may or may not actually be breaking out when it does it without warning, because if you get your money in with a high win rate you'll retain a lot of your earnings.
Part of TA is risk management, and that means waiting for additional confirmations, in this case a retest of the trendline as a support after the initial breakout. If it doesn't retest, just wait until it does at the next support/resistance level. I've explained it already, it should make sense by now.

>>54471106
>trust me guys, I made money during a 15 year bull market

>>54471106
>>54470707
Oh I forgot to add, you have to treat it like fishing.
Sometimes you get a bite but the fish gets away.
Other times you get a bite and it hooks, and you can reel it in.

When price breaks out once and just keeps going, that was a bite and the fish got away. There's nothing you can do about it. It got away. The fish was there, yeah. But it got away, it's no big deal. If you jump in the water, you might grab it with your bare hands but it'll be sloppy and you might even risk drowning, who knows. But you don't do that when you're fishing. You just let the fish get away and you wait for the next one, just like you should do with that trade.
Waiting for that retest is the proper catch. Bite, hook and reel. That's one you can bring in. It's caught. The other one got away and there's nothing you can do to get it. It's just part of the game.

>>54470722
>>54470801
Ultimately wrong. It's used as a way to identify geometric patterns in a financial system in order to have a collection of these events that, over time, produce a certain win percentage that autists with photographic memories can gamble on by trading the digital representation of money with the digital representation of a portion of a business, an amount of metal, or other digital money in order to secure the future of all white children.

>>54470707
You need at least a close above or else it's just a daily wick. Only amateurs get tricked by daily wicks. I like two closes above better because institutions are always trying to counter trade retail so you gotta be careful.

>>54471176
Btw this was my captcha

>>54469573
zoom out

>>54470707
It's a psyop on other traders
>"look its about to breakout buy buy buy!"
>shoots up as a result of urgency from buyers
>self-fulfilling prophecy

>>54471194
>I like two closes above
And like you said earlier >>54470681 it hasn't even broken out once yet.
.006 is obviously a major resistance level. Just look at it wicking up every time
There are definitely meta factors about to do bullish things to silver though.
But I don't trade on those things because they're impossible to time. It could happen tomorrow, it could happen 6 months from now, it could happen 18 months from now with a few more bandaids of emergency liquidity from the Fed. Who knows?
Who cares? Just trade price action, but being aware of those meta factors, I'll just bet with the trend. So I won't short it even if it signals a move down. Outside of that, those meta factors don't come into my consideration for entering a trade. I just do what the chart tells me.
It's so much easier than having to research all these stupid shitcoins and stonks like some gay ass boomer. Just trade price action, I don't get why more people don't scalp for consistent returns instead of those insane long shots buying shitcoins, or god forbid actually investing in them, with all of their assets. Like, do some intraday and swing trading. Generate some capital ffs

>>54470863
Spot price is already above my average purchase price including premium. I can resell to local private buyers for a premium price as well.

>>54469573
>holy shit look those lines in muh reddit screencap guys holy shit!
I'm a sliverfag and I know we're going back to at best 22$ an ounce. kill yourself faggot.