In the previous post we outlined two possible scenarios for silver:
- the possibility of cycle corrective wave 2 to complete at 16
-the possibility of main long term uptrend already resumed
Concerning the latter, we arrived close to wave 4 invalidation point and the price showed strong reaction.
We can see in the lower timeframes a micro 5-wave structure and a pennant. Therefore we are long from @21.81 for the bullish scenario. Stop loss is at 21.63 for 0.5 % equity risk.
We will update below.
Happy trading!
- the possibility of cycle corrective wave 2 to complete at 16
-the possibility of main long term uptrend already resumed
Concerning the latter, we arrived close to wave 4 invalidation point and the price showed strong reaction.
We can see in the lower timeframes a micro 5-wave structure and a pennant. Therefore we are long from @21.81 for the bullish scenario. Stop loss is at 21.63 for 0.5 % equity risk.
We will update below.
Happy trading!
Trade active
stop loss extended to invalidation @21.17 risk 1.2%
Trade closed manually
Resumption failing, cutting at 21.55 loss 0.6%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.