SLV

I've been watching SLV and this is my VERY LEAST FAVORITE asset to trade, but I do like what I see. Here's yesterday's update...

As for today, here's what has changed and why I decided to take action now.

 This is the flat range on a 15 min chart that we often see accumulation or distribution at, likely because of orders being filled at a certain price or VWAP.

The 10 min SLV chart went from strong distribution to our short term leveraged long silver trade bought on the 4th and sold on the 9th and recently the positive divergence has looked excellent.

 The 15 min chart shows the same, yellow arrows/boxes represent head fake /false moves that we see so often before a reversal.

SLV gapped up today and filled the gap, it was on the downstroke that I wanted to open a call position as the gap was filled.

There's still a fair chance for a head fake move below the range before SLV moves higher, but I'd just add at that point, I'm not concerned about the overall position.

If you are looking in to an equity position like SLV or AGQ long, you might want to follow some intraday momentum indicators and look for positive divergences in to pullbacks.