Silver has been in a multi-year bear trend which bottomed out at the end of last year at a low of $14.14. As you can see in the weekly chart below, we staged a good recovery into January of this year when the bear trend resumed. A more gradual decline from the end of January saw us re-test December 2014 lows, bottoming out at the end of August at $14.00. From a fundamental perspective, it would appear that precious metals are finding support, perhaps triggered by the worries over the slowdown in the global economy. We have been following gold quite closely in recent articles, and you may therefore be aware of the importance of the $1086 support level. Obviously this has held and you may remember that we are looking for a break above trendline and 100-day moving average resistance around the $1140 area for an indication of a more prolonged recovery and even the start of a longer-term bull trend. Back to the weekly chart for silver and the lower red trendline in the chart above demonstrates a double bottom in place through September and the beginning of…
Introdution to Autochartist
April 8, 2015, 1.00pm (London)
Live trading room
April 9, 2015, 3:00 pm (London)
When you have presented over 1000 educational webinars, as I have, there are a few questions that certainly stick out. The main questions always revolve around what I do: Steve, how do you trade? What markets do you trade? How do you make money? All these questions are valid, and the kind I can certainly answer, but I know my answers would be of little value to the average trader. Who cares what I do? Well, everyone, as I have made my living and built my reputation on making consistent money in the markets. The problem is that the way I make money is through my style of trading. It is not something to simply replicate. I teach people how to find their style of trading. It’s very much like being a golf pro. They can teach you how to play to your strengths but you may never be quite the golfer they are. Which is great, who wouldn’t want to be nearly as good as a pro golfer after some instruction? This is what The Ruff Guide to Trading (published today by Harriman House) does. This book is for…
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