Silver price movement - below purple box with no retrace..
Updated
Hi All,
Just looking at that fall we have to be a little careful because it didn't have a retest of the trend line.
So what we should look out for if this bounces up and breaks 17 again.. better to be clear of this short.
So our last post we shorted at 17.. it fell through and found support here at 16.4 if 17 is revisited the next target could be rather painful for shorts.
If you are currently shorting take profit - wait for the next wave up then wave down if the wave down does not exceed the lowest level of 16.4xxx then price will keep moving up if the next movement breaks 16.4xxx then you can leave it as a short. Sorry to sound confusing.. I will draw again later this evening..
Thanks all !!!
Just looking at that fall we have to be a little careful because it didn't have a retest of the trend line.
So what we should look out for if this bounces up and breaks 17 again.. better to be clear of this short.
So our last post we shorted at 17.. it fell through and found support here at 16.4 if 17 is revisited the next target could be rather painful for shorts.
If you are currently shorting take profit - wait for the next wave up then wave down if the wave down does not exceed the lowest level of 16.4xxx then price will keep moving up if the next movement breaks 16.4xxx then you can leave it as a short. Sorry to sound confusing.. I will draw again later this evening..
Thanks all !!!
Note
Correction on the prices - 16.76 is the support we are looking for.. if it breaks through 17 then you should long with your stop loss under 16.76..
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