Silver hey hey! can it be that the triangle is completing?
So I haven't posted about silver for a little while.
It has just been a short story for the last 3 weeks, however after that huge spike down there was a very quick reversal and prices has been up for the last week and a half.
Silver is now sitting right on 16.30 and has not move.
So for my trades I am kinda looking for a break of price at the purple line.. if it breaks below.. of course we should be shorting.. if it breaks above we should be long.
I have seen many 'predictions' of price plummeting and price going to the moon.. I think the emotions get in the way when you have such high expectations and you don't see things as clearly as you should. Nobody will really know what the price will do. At this stage elliot wave suggest that price will move up to that top purple line and that is it an indication of price movement. If price breaks through the purple triangle top then
If it is a 5 wave structure moving up it should generally be followed by another 5 wave structure.
Stops should be around or below: 14.50 for longs 17.50 for shorts - so price at this moment is just not giving you a good return for risk return ratio. Wait for a break it would be better to trade from the trendline.
All the best...
It has just been a short story for the last 3 weeks, however after that huge spike down there was a very quick reversal and prices has been up for the last week and a half.
Silver is now sitting right on 16.30 and has not move.
So for my trades I am kinda looking for a break of price at the purple line.. if it breaks below.. of course we should be shorting.. if it breaks above we should be long.
I have seen many 'predictions' of price plummeting and price going to the moon.. I think the emotions get in the way when you have such high expectations and you don't see things as clearly as you should. Nobody will really know what the price will do. At this stage elliot wave suggest that price will move up to that top purple line and that is it an indication of price movement. If price breaks through the purple triangle top then
If it is a 5 wave structure moving up it should generally be followed by another 5 wave structure.
Stops should be around or below: 14.50 for longs 17.50 for shorts - so price at this moment is just not giving you a good return for risk return ratio. Wait for a break it would be better to trade from the trendline.
All the best...
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