As you can see, Silver has finished its 5 waves to the upside and its 3 ABC corrective waves. What's so interesting, is that wave C retested the previous wave IV of wave 3, and the new wave that is forming right now also retested the previous wave 4, and we know that retesting the previous wave 4 according to the Elliott principle is considered as a bullish signal. Thus, this may be considered as a strong confirmation that the direction is still bullish towards the 28.60 level (that I have talked about in my previous post).
However, we don't know what could suddenly happen as the markets have been going crazy for the past few weeks, so always make sure to have your stop losses ready and don't get too greedy.
However, we don't know what could suddenly happen as the markets have been going crazy for the past few weeks, so always make sure to have your stop losses ready and don't get too greedy.
Related publications
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.
Related publications
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.