Silver The Latest And Greatest

The founders of Midas Touch Consulting meet regularly to measure the highest probabilities of the future market. We focus on the big picture. Usually, the latest and greatest, meaning recent events shape and reshape this outlook. Not this time. Quite the contrary. We might all agree that there is a high likelihood of a devaluation of fiat currencies at some point. This based on it being likely that the constant new printing of currency deludes its value. The divergence between actual economic value and worthless paper money will result into a currency reform. We advise our clients to be outside the fiat currency circle and as a core, hold precious metals and Bitcoin. It is certainly not obvious when this will occur. News will be diametrically opposite to announcing such an event but rather distract as best as possible for the individual to be prepared.

This means, while typically a strong focus to news about Silver the latest and the greatest can be helpful for timing, it will not in this case.

It is imperative to keep the big picture for oneself in the foreground.

Silver, Daily Chart: Low-Risk Reload Entry Points

Silver in US-Dollar, daily chart as of July 2nd, 2020.

Silver in US-Dollar, daily chart as of July 2nd, 2020.

The daily time frame shows how clean the trend on Silver has been trading. This allows for very low-risk reentry points (green up arrows) to build up a larger position. We let our runners ride and transfer them to larger time frames if applicable (see our Quad Exit Strategy).

We prefer this low-risk strategy and the chart illustrates nicely how a breakout strategy from the yellow marked pennants would pose much more risk.

With the larger picture in mind, one can undeterred from distracting news items observe smaller time frame charts, and use technical analysis to produce desired results supporting ones larger picture goals.

Weekly Chart, Silver The Latest And The Greatest

Silver in US-Dollar, weekly chart as of July 2nd, 2020.

Silver in US-Dollar, weekly chart as of July 2nd, 2020.

If you take a look at the solid red resistance line you can see in what beauty of precision Silver is trading. This allowed for precision partial profit-taking after the recent breakout attempt from the yellow marked pennant.

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