Silver is on a buy signal until July 27th.Silver got a strong close above 17.80, which was a point to look for according to my cycles. It is on a BUY signal and the cycle is up until the 27th of July. Furthermore, following my observation using studies of William Gann - Silver never traded on a bearish price angle since the March crash, which is important to keep in mind.
In the last trade I made a crucial mistake with my sell stop and it was caught exactly and the price didn't go any lower, this is typical for Silver traders to have their stops caught this easily, since the market (these days especially) is very volatile and experiences periodic washouts without influencing the main trend.
We can expect the price to reach 18.60 by tomorrow, 19.0 by the end of this week and 20.50 in the period of the next two weeks. Also, once the price reaches 19.0 it will be safe to add on to your position, since it is an old high (once crossed much higher prices will be reached). The stop loss in this case is manual. However, a CLOSE below 17.55 will cancel the BUY signal (temporarily).
This idea will be updated and commented by me in case of adjustments. It will be closed once the PT is reached or once the BUY signal is cancelled.
If you have any comments/ideas/points of criticism - please do write it down below, I will be happy to discuss.
