What Happens To Gold And Silver Next? Look Out Below?

thats sad to hear

not having a higher high over yesterdays close isn't necessarily a bad thing. However, it can signal a pause.

thus far in the afternoon here we have a high over yesterdays high in gold but marginally. Silver is trying here, within pennies...

Your last post shows a lack of understanding of inferential statistics.

Long term projections in assets such as real estate has provided an amazing passive/secondary income for many of us.

My bad, back to discussing paper day trading :)

Hey Devilsbite good to hear from you, last we talked it was something about somalian elephants I think.

Not a problem sharing whats going on. I gotta say it gets very boring talking about what happens because I see this sort of thing hundreds of times a day lol. Its always the same thing, a combination of waiting for time to work out where price goes and well, experience from trading where you see the same outcomes over and over and OVER again.

I think, based on price, we are seeing some constructive price action. First and foremost being what happened on December 1st in the overnight futures market. Also, in shorter time frames, the downtrend is slowly being chipped away.

What comes next is how does gold and silver manage the pull back. Will it come via price or through time? It is clear after today that both silver and gold are now setting into ranges. If we see these ranges go for a while and we break higher from them, we are on our way to much higher prices.

How do I know this? Its all about experience as a trader, seeing the same patterns over and over,, OVER time. Thats what the general public lacks and misses. Since they are not involved in this day to day, they easily confuse themselves with talking about low volume rallies or trying to short rallies. Where I work, we fire individuals who make obvious mistakes like that.

Rather than make assumptions, we listen to price and allow the market to lead us, as the market is never wrong.

IF we are wrong in how we are following price, the market will correct us.

I know what you mean Devil, I plan on buying some somalian elephant coins for family and myself that I Am missing for my collection, as I feel comfortable buying here. Yes, prices are higher, I like that and feel comfortable. I dont waste my time with obsessing over catching a low nor do I care to buy low, I just want to make sure prices are starting to get stable, and that makes me very comfortable to buy. :)

I might add I do this thread and update it because I want to give back to my hobby and give back to the community. I love you all and care for you all as my fellow members in collecting. What I wish to do is show how simple markets are by just watching how price. I want to everyone to partake of what I do everyday, and that is be profitable and manage risk by avoiding times to buy. Sure, I'll get it wrong. As they say tho, its OK to be wrong but STAYING wrong is NOT ok.

I certainly dont need to do this for any other reason as I am set money wise and manage accounts, I am up to my nose in trading markets everyday and sometimes it doesn't stop until the wee hours of the morning. Again, this is just me giving back to the community so that folks can understand that its not complex or some gibberish that leaves them wondering whats going on.

and here's our pull back... pretty normal and was expected. We'll look this weekend at some charts and see what levels we can hit.

one thing is for sure, previous resistance will/can turn into support as well.

In any case, we'll go over what we will be looking at and for this coming week from silver and gold.

I think we all, at the end of the day, have the same common goal here and thats having a collection that we really like and appreciate. I mean we all have different interests within coin collecting, but at the end of day, who doesn't like seeing their collection of silver and gold coins of whatever themes they might be, some as myself love coins with elephants, rhinos and other animals.

others love collecting silver rounds, bars, some like zombie coins, some love Libertads, and so on.

This is the thing: all these coins,rounds, bars, whether they be bullion or proofs, colored silver coins,,, gold colored coins,, they are all guided and going priced according to where gold and silver go.

So I thought, "hell, why not share how and where price goes, and that way everyone can get their best buys or wait out until things stabilize." I know personally, I would rather much buy in a market where prices are stable and rising, rather than in a dropping PM market. I bought several coins in the downtrend because I just had to have them, knowing they would drop, and sure enough they did drop lower than I paid, and it was all because of PM prices dropping.

Eventually I grew tired of this and just stopped buying period sans my SOmalian and Benin elephants and a select few RCM coins. But outside of that, I really dried up collecting wise.

I been waiting for these Somalian elephants for 2015. The only ones I am now missing and am going to get are the bullion ones. I feel much comfortable now seeing prices rise and get stable rather than when they were dropping or dropping, trading in a range and running higher and dropping again. Thats just me, thats what works best for me. I dont need to feel I got things dirt cheap, so to speak.