Description
⋅ SILVER
I think SILVER and GOLD may be into the next wave up here.
It had a fast slump, moved on up, had another weaker slump with a higher low and now moving up again.
I think that is likely to be a typical bullish 3 wave correction.
Notice how the overall trend trajectory has not been affected by the 3 wave correction.
That is another bullish clue I think.
The next wave up could be underway here.
And this looks a reasonable dip buy; trading with momentum 👍.
Comment
⋅ SILVER
Taking a bearish turn here so perhaps better to top up later as this could be a shakeout into another wave down here 🤨.
Comment
⋅ Did look bearish but lower wicked candle shows buy pressure coming back in.
These lower wicks can have more significance in a strong uptrend.
I bought the dip again 👍.
Trade active
⋅ Trade closed manually
⋅ I've looked at GOLD and SILVER more and I think; looking at higher time frame its a bit smelly to add more in this area.
I dont like two upper wicked candles; the second just printed.
So i'll exit what I added today here, and i'll only add to my position if there is a real pull back 👍.
Comment
⋅ Comment
⋅ SILVER
There is a lot of calm vs whipsaw in this area which signals that this is a coil printing / contracting triangle.
No guarantees that it moves on up from such a pattern but it most likely to be a bullish continuation pattern.
And it could be an explosive one.
4H RSI in that nice middle sweet spot too.
This entry is a bit back and forth as I look for the reveal, but perhaps this is it here 👍.