Silver H1. Waiting on wave 5.
Updated
Will we see wave 5 as shown on the hourly? I see price behaving as nicely as it can reasonably be expected.
I'm a terrible buyer. I'm a smooth operator when the market is selling off, but I am miserable when it comes to buying. The low wicks used to gas up the market always, and I mean always, take me out. I have them placed as low as I can, but for the life of me, I can't make the win rate viable to take the horizontal zone setups. Which is why I typically revert to buying and selling line-breaks, but c'mon I really want to be a horizontal zone trader. It seems so relaxing. It's basically the trading version of the pearly gates if you ask me how I think it would feel.
This setup is terrific for me, I know there's a big volume of selling pressure above, but I think that there could be another impulse up, and I'm willing to let the market prove me wrong. I believe this so strongly that this is the type of trade that I would be tempted to execute without a stop loss. I'm aware that entertaining that idea will eventually send you back to wherever you came from, so I should probably just look for a market that's already broken out of its' range to trade, but keep one eye open on silver.
I'm a terrible buyer. I'm a smooth operator when the market is selling off, but I am miserable when it comes to buying. The low wicks used to gas up the market always, and I mean always, take me out. I have them placed as low as I can, but for the life of me, I can't make the win rate viable to take the horizontal zone setups. Which is why I typically revert to buying and selling line-breaks, but c'mon I really want to be a horizontal zone trader. It seems so relaxing. It's basically the trading version of the pearly gates if you ask me how I think it would feel.
This setup is terrific for me, I know there's a big volume of selling pressure above, but I think that there could be another impulse up, and I'm willing to let the market prove me wrong. I believe this so strongly that this is the type of trade that I would be tempted to execute without a stop loss. I'm aware that entertaining that idea will eventually send you back to wherever you came from, so I should probably just look for a market that's already broken out of its' range to trade, but keep one eye open on silver.
Note
Go Silver! I bought the bottom of the range yesterday, and hit the top of the range overnight! 1500 on one contract risking 600.Note
way to go silver. looking for one more minor impulse tomorrow or Friday to finish off the current Elliot cycle. Preferably tomorrow, but you can't exactly pencil it in.
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