Buying Gold whilst hedging by shorting Silver.

COMEX:GC1!   Gold Futures
With the possible trend lines for gold ( GC1! ), it looks like we saw a fake break out of that range today, culminating in a doji candle. This on its own is not a good enough buy signal - granted, but if we overlay the price of silver ( SI1! ), we see that silver has shown a high correlation with gold but with higher peaks and troughs.
With gold now at a point which I believe could be a new trough, silver has not yet kept up with this move.
Therefore, I plan to buy GC1! and sell SI1! , with the view that silver has yet to get to its more extreme move lower to keep in line with its relationship with gold , and that gold has potentially reached a turning point in its price movement and is about to head up in price.
I will exit the silver trade @ the trough of the gold move and aim to exit the gold trade once it reaches the top of the trending channel.


Whilst gold did not keep to within the channel I drew, silver did swing down more violently than gold. This move looks to have finished now with gold hitting support, I'm not expecting silver yo deviate too far off the path that gold is on.
I'm not shure if I'm seeing a rising wedge, do you ? If this is a rising wedge, we should short gold
Possible yes. I don't think gold is showing a strong BUY on its own at the moment (especially with the recent downwards momentum) but coupled with a short on silver (which has shown high correlation with higher peaks and troughs) I feel its a safer bet.
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