UPDATE: XAGUSD SILVER 3-3-5 FLAT CORRECTIVE STRUCTURE (1H)
Just an update to my post from Sept 30th. Based on the movements in Silver since then, I still believe we are in the last leg of a long term 3-3-5 Flat Correction, which started early August. I still believe we are in Wave 4 within Wave C (5 waves) of this Flat. I have zoomed in on this portion. This Wave 4 itself seems to be playing out as a 3-3-5 Flat. It has the possibility to develop into a 3-3-3-3-3 Triangle or something more complex, but we'd need to see how the candles play out. For now, I'm expecting Wave 4 to terminate around 225.6/OZ, so you can take a small Buy up until then. I myself will stay out of that portion and instead wait for the last and final Sell opportunity (Wave 5 of Wave C), which I believe will terminate around $21. From this point, I believe the larger time frame trend to the upside will take over, so I will be loading up on Buy's then.
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