NOW WHAT?PART 2 POTENTIONAL BULLISH BAT PATTERN ON SILVER
Updated
As i promised to my traders and on my article regarding Silver (GOOD PROFITS ON SILVER!BUT NOW WHAT?) except all the other technical points mentioned we have also a potentional harmonnic pattern.
So now i reveal the potentional bullish Bat pattern which is fully coincides with the other technical observations.
ON THE TECHNICAL SIDE:
1.The ED red line projected into the E'D' we can see as already mentioned that it coincides perfectly with the top trend line of the mid-term descending channel and it also coincides with the 1.13 Fibonacci extension of the XC of the harmonic pattern which is the maximum level allowed to price to validate the completion of the pattern.
2.The support zone except price action meaning S/R points it's created by the 88.6% Fibonacci retracement of the XC leg and the 1.13 Fibonacci extension of the same leg where we have the completion of the pattern.
3.The price which is perfectly matches with the red line E'D' projected from the past,the bullish Bat pattern,the top trend line of the descending channel and the price that fundamntals support.
POSSIBLE TRADE:
FIRST TARGET T1 AT 16.715/OZ WITH P/L RATIO 2,30
SECOND TARGET T2 AT 17.450/OZ WITH P//L RATIO 3,75
STOP LOSS AT 15/OZ
THANK YOU FOR YOUR SUPPORT!
HAPPY TRADING!
So now i reveal the potentional bullish Bat pattern which is fully coincides with the other technical observations.
ON THE TECHNICAL SIDE:
1.The ED red line projected into the E'D' we can see as already mentioned that it coincides perfectly with the top trend line of the mid-term descending channel and it also coincides with the 1.13 Fibonacci extension of the XC of the harmonic pattern which is the maximum level allowed to price to validate the completion of the pattern.
2.The support zone except price action meaning S/R points it's created by the 88.6% Fibonacci retracement of the XC leg and the 1.13 Fibonacci extension of the same leg where we have the completion of the pattern.
3.The price which is perfectly matches with the red line E'D' projected from the past,the bullish Bat pattern,the top trend line of the descending channel and the price that fundamntals support.
POSSIBLE TRADE:
FIRST TARGET T1 AT 16.715/OZ WITH P/L RATIO 2,30
SECOND TARGET T2 AT 17.450/OZ WITH P//L RATIO 3,75
STOP LOSS AT 15/OZ
THANK YOU FOR YOUR SUPPORT!
HAPPY TRADING!
Note
First target of course reached already...Some more profits on silver..Well done traders..
Note
Beautiful price action by silver once again..Trade active
Trade active
Note
Amazing precision on that..Nice profits..Trade closed: target reached
Second target was reached!Keep following for more profits!
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