SILVER LONG HOLD

Silver LONG BUY entry with the trend.

Expecting a tight bull channel going upwards, followed by a correction and then HIGHER prices.
Buy and hold. BULL MARKET.

Have a wonderful day my fellow traders :)

Note

I see this wedge pattern here. Now this bearish breakout could turn into a BEARISH TREND. This also aligns with a double top here.
OR if there's enough buyer's still here, this bearish breakout could become a pullback for higher prices, in which we could see this turn into a tight bull channel.
I will see as price/market participants direction and strength unfolds.

Note

expecting bullish continuation here.
If it breaks below, bearish trend more likely.

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Bigger ABC drawn, beginning after wedge break.

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Buyer's kicking in. Good indicator. Wait for close. Can wait for higher time frames for stronger confirmation.

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HOLD

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Looks like an ABC on the Daily. Double top flag for a bearish continuation. Expecting to see a 2nd leg down to double bottom or extend further down lower.

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Going with the higher probability that we'll see a big short happening here with the Daily candle turning bearish after an indecisive trading range bar prior to it.
Double top pullback to continue our 2nd leg down after that huge sell off.

The other scenario is that we may continue up if we get strength in this 4 hour close. (33 minutes left).

However i believe on the 5 minute time frame that we are almost finished with our correction, and hence it will make the 4 hour candle close as a weak bull.

Whichever scenario, i will look for the follow through buying or selling from the market.

Note

In the daily chart there are many 2 legged abc patterns, this daily candle close would fulfill our B corrective pattern.

hyryda

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hyryda