Silver ready to move as collateral
Updated
Those following the Gold charts will know we have been expecting this impulsive rise, this is going to spillover into Silver as it completes a 5 wave sequence.
The main target in this sequence comes into play at 16.61 which is also in congestion with the 38.2% retrace from the highs in 2016. Anything else to the topside will signal that we are in an impulsive more in Silver too, remember to take some chips off the table at 16.61 and track for any signs of exhaustion.
Best of luck all those riding the risk correction across the board.
The main target in this sequence comes into play at 16.61 which is also in congestion with the 38.2% retrace from the highs in 2016. Anything else to the topside will signal that we are in an impulsive more in Silver too, remember to take some chips off the table at 16.61 and track for any signs of exhaustion.
Best of luck all those riding the risk correction across the board.
Trade closed: target reached
Well done those who caught the move. A very fast and sharp leg.
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