Silver (XAG) continues its descent! How low can it go??!
Put money in thy purse; follow thou the
wars; defeat thy favor with an usurp'd beard. I say put money in
thy purse. It cannot be long that Desdemona should continue her
love to the Moor—put money in thy purse—nor he his to her.
~ Othello A1S3, 336-344
Hello friends!
Silver is one of the few commodities in a multi-year downtrend, presenting ever-reliable short opportunities.
I usually chart / trade cryptocurrencies so it is SO refreshing to participate in an asset devoid of market manipulation. This is trading on EASY mode.
The elliot wave patterns are crystal clear here, characterised by very strong 1-5 impulse down waves and very tepid A-B-C correction waves.
We should be aware that nothing goes down forever. Fractals are elliot waves are very complementary - both being harmonic patterns.
The current 1-5 impulse wave down is probably the last one before a solid A-B-C up that could bring us back to the $16 zone. I will be going short here to reach my TP of $14.85 - $15.00. After that, I would confirm that the 1-5 wave is over and observe the next pattern developing before making my next move (probably the long from B-C).
Good luck and happy trading
wars; defeat thy favor with an usurp'd beard. I say put money in
thy purse. It cannot be long that Desdemona should continue her
love to the Moor—put money in thy purse—nor he his to her.
~ Othello A1S3, 336-344
Hello friends!
Silver is one of the few commodities in a multi-year downtrend, presenting ever-reliable short opportunities.
I usually chart / trade cryptocurrencies so it is SO refreshing to participate in an asset devoid of market manipulation. This is trading on EASY mode.
The elliot wave patterns are crystal clear here, characterised by very strong 1-5 impulse down waves and very tepid A-B-C correction waves.
We should be aware that nothing goes down forever. Fractals are elliot waves are very complementary - both being harmonic patterns.
The current 1-5 impulse wave down is probably the last one before a solid A-B-C up that could bring us back to the $16 zone. I will be going short here to reach my TP of $14.85 - $15.00. After that, I would confirm that the 1-5 wave is over and observe the next pattern developing before making my next move (probably the long from B-C).
Good luck and happy trading
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