slicedmelon

slicedmelon

Hi all .. not in clear yet.. until price breaks back into the trendline.. and turns it into support. we have the 2 scenarios still available. Invalidation of the count still at 17.518

slicedmelon

So current count - looks like a retracement to the 17.70 area.. There is an alternate count but if price doesn't break 17.518 this count is valid... Lower box is previous wave 4 .. (if it gets there we will look at the alternate count)

slicedmelon Updated 

Pull back to either the trend line or 17.70's area - Very much still in a corrective phase. If trend line broken best to stay sidelines until the first 5 wave kicks back in. invalidate this count on break of 17.518

slicedmelon

We have a sideways consolidation here for the 2nd wave - Silver has a lot of resistance here at the $18 mark. I am still picking long for this trade. If it breaks above 18.074 this count is invalidated for the long side. If it breaks below 17.7 there would be an increased chance that the current count is incorrect.

slicedmelon Updated 

long between 17.85 (50% fib) and 17.881 (38.2% fib) -- invalidation is 17.707 if you have an alternate count please show me..

slicedmelon

This is my idea on silver .. long from 17.80's or if broken below long from 17.70's ... invalidation should be on cross of 17.56