Just an update to my previous post from Sept 14 regarding XAGUSD Silver. Movements since then seem to continue to confirm to me that we are indeed in a 3-3-5 Flat correction for upside on the larger time frame. I have zoomed in here on Wave C of this Flat, which needs to play out as 5 waves to complete the Flat correction. Right now, within this Wave C, I believe we are in Wave 4 of the 5 waves, which is playing out as a 5 wave Triangle correction. I see a small uptick to around $25 before getting the final leg down to around $21 to complete the larger time frame Flat correction. At that point I want to be positioned in Buy to ride the prevailing trend up.
Note
A more detailed breakdown of corrective Wave 4 within Wave C of the 3-3-5 Flat:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.