Out of interest are you waiting for your chart to turn in both directions OR have you a set entry price that you will buy at?
The main factor before I buy will be a convincing turn in the dollar. I think this will provide the discipline to wait as I am at heart very bullish on bullion, more so gold, and have the tendency to buy too early.
With a good core holding put aside [both gold and silver], I am now looking to strictly trade the volatility between silver and the dollar. I suspect I will have to wear my dollar bull hat more tightly to do so more effectively. If both the dollar and silver are in a bull market, and they move inversely - given the transitory mood of the market - this could be an excellent op for trading.
If the long term trend in silver holds [at around $16... 15.50], and we see the dollar turn, I will most probably be starting to buy in 2 or 3 weeks.
The dollar looks likely to break through 80 shortly. If the previous push up is anything to go by, it could go to near 81 before consolidating.
The aussie is well correlated with silver and is another cross I will keep my eyes on.
Modern money "shorts" the currency, and is backed by debt. The debt is real. A debt deflation will lead to a prolonged period of deleveraging, where the short-covering of currencies will strengthen currencies relative to asset prices. At the global level, in the FX market, central currencies will benefit from deleveraging at the expense of peripheral currencies. Due to instability and uncertainty, gold will benefit against all currencies as it continues to be re-monetized.
Hold on to your hats for hyper-deflation, where cash is king, and gold the King of cash.
[Silver? A Volatile Queen].