Silver (XAGUSD)Long
A silver low here would strongly imply big bull breakout
Building more on the idea of a USD crash explained in previous ideas, here's the silver setup.
Silver has a pending butterfly reversal patten on it. Currently we have a 1.61 high and a pullback to 1.27.
From the perspective of USD bulls, the 1.61 high is encouraging but the 1.27 has to break - otherwise, failure of the butterfly is very likely. Failure of the butterfly most often leads to parabolic moves to the 2.20 and 2.61 fibs.
Here is this same setup flagging the rally after the election.
Bear trades did well from the 1.61 but you had to be locking in profits at the 1.27.
Same thing in BTC. Last short level In posted was the 1.61. Great trade with every single day being down after the entry, but you had to lock in profits at the 1.27.
If this trade is coming is silver, the implied move is around 25% directly up.
Silver has a pending butterfly reversal patten on it. Currently we have a 1.61 high and a pullback to 1.27.
From the perspective of USD bulls, the 1.61 high is encouraging but the 1.27 has to break - otherwise, failure of the butterfly is very likely. Failure of the butterfly most often leads to parabolic moves to the 2.20 and 2.61 fibs.
Here is this same setup flagging the rally after the election.
Bear trades did well from the 1.61 but you had to be locking in profits at the 1.27.
Same thing in BTC. Last short level In posted was the 1.61. Great trade with every single day being down after the entry, but you had to lock in profits at the 1.27.
If this trade is coming is silver, the implied move is around 25% directly up.
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