Bull or Bear Market… Doesn’t matter

Kyle Dennis’ new, 5 Min Strategy is poised to double Your Money Weekly!

Michael S. made 173% with Dollar Ace. So can you!


Today’s trade: Hi-yo silver, away!

Jason BondJason Bond ·

The set-up: Silver and the iShares Silver Trust (SLV) broke out of a “symmetrical triangle” on Friday; that’s a pattern where resistance and support are on a collision support.

I call that set-up a “coiling pattern,” because it looks to me like a spring that is coiled and being compressed, and when the pressure is released from the spring, the coil causes it to explode open.

That’s not an accepted term, but whether you go with me and call it a coiling pattern or stick with a symmetrical triangle, that’s where we’re at.

The chart:

On Friday, the SLV broke to the upside on expanding volume, and broke through the 50- and 200-day moving averages simultaneously. That’s a signal that it’s time to buy.

Hear why Petra Hess of PetraPicks.com is watching gold and gold miners today

The play:  I use indexes and ETFs to inform my day trades, not as something I trade myself, but this is buyable now in the $16.25 range, with the target being the top of the triangle, so roughly $1 per share higher. The risk on the trade is back to the support trend line, so it’s off if SLV breaks below $16.

That’s 25 or 30 cents of risk for a chance to make a buck or more on the upside; with the Relative Strength Index ( RSI) neutral and that higher volume in the picture, I think silver will make a nice move here.


Jason Bond runs JasonBondTraining.com and is a swing trader of small-cap stocks.

You may also like

Exclusive System Tracks Wall St. Insiders

“Dollar Ace Simply Exposes Information That Wall Street Wants To Keep Quiet” Said Kyle Dennis
“One member, Wesley M., has already reported 360%+ gains in just a few short days. Don’t miss this!”
(Reserve Access Now)

“What Recession?!” Jason Bond nets $55,060 in realized profit in One Day

After going 6 for 6 on profitable trades recently, we caught up with Jason to ask how he did it.
Check out Jason’s exclusive interview revealing this tightly guarded strategy. (Watch Now)

RagingBull.com Co-Founder, Jeff Bishop, Launches High Conviction Trade Service

“We listen to our clients and we give them EXACTLY what they want, so we designed a service to deliver 1 trade, 1 time a week, with a 100%+ PROFIT TARGET, directly to your inbox every Monday before the market opens. (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles