Silver chart

Posted on May 4, 2011 by Ramki Ramakrishnan

Hello again..I thought of spending a few minutes on the hourly chart of Silver to see if there are any clues. My analysis and comments appear on the chart itself. This is a sequel to yesterday’s detailed update on Silver.

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About Ramki Ramakrishnan

Over 25 years of market experience that I would like to share with you through these pages. Check out the various links and see what interests you. Come back regularly for more. Tell your friends. Enjoy!
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20 Responses to Silver chart

  1. Bob says:
    May 5, 2011 at 7:22 pm

    Dear Ramki, Can I identify wave three in advance? Can I identify wave two bottoms? Please advise….Good Fortune, Bob

    Reply
    • Ramki says:
      May 6, 2011 at 8:35 am

      Hi Bob, Identify a significant bottom. Then wait for a mini 5-wave pattern to be completed. Then get ready to buy into a 50% to 60% pullback in anticipation of wave 3. However, be aware that at this point, you are still trading your paradigm. You will follow the rules and guidelines of wave principle. Once wave 3 starts you will know by the speed of the move that things are working out. Wave 2 bottoms can be anticipated by relating the internal waves of the 2nd wave to each other. You might start by reading a good book and return to this blog for real-life examples. Good luck.

      Reply
  2. yogesh chaudhari says:
    May 6, 2011 at 1:32 pm

    hello sir
    Me App Ka Bolg Daily Dekhata Hu Mast View Milata Hai Aap Ka Is Se Mere Ko Help Bohat Hota Hai But Sir App Mcx Commodities Ke Bhi Chart DIya Karo Sir Plz Tell Sir Any Tacnikal Sikhane Ke Liye Koi Book Ya Kuch Idea Dijiye sir Jis Ki Me aap Ka Chart Samaj Saku
    Ismall TRder
    mumbai

    Thanks sir

    Reply
  3. Carlo Corleone says:
    May 10, 2011 at 10:08 am

    Dear Ramki,

    I apreciate your work helping us sharing your market perspective. Is very hepful for us a support like this one. I hope that in the future you will have more time to make updates more frequently.

    Please consider another labeling where wave A is still unfolding with a extended wave 3 and is retracing right now in an complex wave 4.

    Thanks a lot.

    Reply
    • Ramki says:
      May 10, 2011 at 7:49 pm

      Hi Carlo
      The count suggested by you won’t work because wave 3 cannot be interrupted by such a huge correction inside it. Infact even the 4th wave AFTER the end of wave 3 is usually brief….

      Reply
      • Carlo Corleone says:
        May 11, 2011 at 1:29 pm

        Hi again Ramki,

        I now understand your response. I got confused and understood incorrectly before. I was talking about an extended bearish third wave of the huge retracement that we are currently seeing. Not that we’re in a retracement of the implusive bullish third wave.

        Reply
  4. vivek says:
    June 2, 2011 at 9:44 am

    sir if possible take a look @ Silver charts

    Reply
  5. PRASANTA says:
    August 15, 2011 at 7:56 am

    sir,

    pl, update silver chart , it is long time overdue from your end.

    thanks

    Reply
  6. PRASANTA says:
    August 18, 2011 at 12:57 pm

    SIR,

    would you confirm in silver comex , currently iis it a B wave of ABC correction from bubble high (daily chart) or correction complete means begining of new bull run start?

    Pl, pl, spare your valuable time .

    Thanks

    Reply
  7. mufo chauhan says:
    October 3, 2011 at 5:30 am

    hi sir
    plies sir update the silver chart,
    its look like a same as gold correction, ABC form,
    c is going on
    thanks for your analysis,

    Reply
  8. Anand Srinivasan says:
    February 29, 2012 at 9:46 am

    Ramki,
    The huge sell off today (Feb 29) in silver is a retracement of the extended fifth back to the 2nd wave? I was hoping for this but not at this speed. Wanted to check if this was a correct reading ….

    Thanks
    Anand

    Reply
    • Ramki says:
      March 1, 2012 at 7:52 am

      Hi Anand,
      The sell off is steep, but from a cursory glance at the daily chart I dont think that 5th wave was extended.However, I need to get back to my office to see a proper chart and measure the waves before confirming. You could do the same too, by following the guidelines in Five Waves to Financial freedom about how you determine a wave was extended.

      Reply
  9. Nikhil M Ranka says:
    March 2, 2012 at 9:51 am

    Hello sir i have been amazed by your elliott wave analysis,can you share your opinion about current silver prices? And please advice a book to begin elliott wave analysis.

    Reply
    • Ramki says:
      March 3, 2012 at 10:33 am

      Hello Nikhil, Thanks for the comments. A lot of people seem to like “Five Waves to Financial Freedom” and Amazon currently ranks it well above the other books.

      Reply
  10. Patrik says:
    July 20, 2012 at 3:35 am

    Dear Ramiki,

    I am absolutly fascinated by your analysis and charts. Thank you very much! It would be great if you could publish an update to silver.

    Best Regards from Switzerland
    Patrik

    Reply
  11. aydn says:
    July 22, 2012 at 4:00 pm

    hi ramki i am also so exited to see that you are gona send an update soon for silver .thanks so much.thanks from usa

    Reply

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