keep in mind that all the technical ideas all retail and small managers follow, the deep pockets, they know everything too,
they know the levels where vital account decisions get made, it's not about the trending value, it's about the levels that are
routinely set by different tiers of money, the size you play and the type of play you use maybe quite different to mine, however,
there is little (if anything) unknown in the trade sphere, what is most important is to keep an eye on the relative size and the context
your ability to play detective with patience and understand about the player on the other side of your trade, what is their intent?
if anything, avoidance of saying something is so when there is no benchmark, price is always printing a new signal, price is merely an expression of intent, how that is contextualised, before trading begins, determins how quickly a bias can be let go,
by default we are biased to honed knowledge and the need to be right
focus on where $silver broke the up-sloping channel, it's a fake drop-out, one of those moments to look back to as a defining "event"
well organized, maybe, simply how the auction organizes itself, most likely
upto that point there was a clear series of non-confirmations from silver and vice versa, from xauusd
with the print you see here, i say, this is technical confirmation, with the action of silver re-entering it's up-slope,
one could argue, that on such a near-term period, silver merely "dipped" thru the floor of it's gentle and easy-to-miss up-sloping channel
again, i maybe wrong with this idea of a confirmation signal, given when and where this signal has printed, if we put aside that $xauusd
has made considerable more headway at this point since the double bottom, we can look back as the overall print and suggest, that,
as silver is its own auction and follows it's own supply-demand, it merely has to offer a precision moment, a landmark
the lows of silver and xauusd now mark the be-all end-all of the two uptrends, they go the bulls go too
the difficulty, from an account point of view, that those lows are now higher risk, given that is true, we should expect
major players to open their wallets, not so much to chase available at the offer, rather to lower the risk, the closer i enter to lows
the lower the risk, the yin and yang of calling lows, rather, as i have this week, called the secondary signals, this switches my focus to a larger swing rather than day to day for xauusd
that's me rant, captain!