I am engaging my long entry for Silver as I have been watching this triangle forming up as Wave 2 (corrective Wave) for many months now. In my Opinion this will be one of the best possible entries to catch up the next bull run that is coming on Silver. Fundamentally we have been seen a lot of pressure with the last weeks FED-Meetings and their statements according to possible Rate-Hiking that shook up the whole Commodity Market (especially Silver bled a lot). Either way, this is a clear sign for me that with the latest Sell-offs on Gold and Silver we will be seeing a lot of pressure coming towards the major Markets such as Dow Jones and Nasdaq-100 as commodities always react before the stock markets do.
Banks are stacking their longs on both Silver and Gold and wanted to have de facto cheaper entry prices to get the most out of the Bull run that is coming both in Gold and Silver. I'm super bullish since fundamentally will have a time ahead that is perfectly made for all sort of pressures Metals - only that I think from a technical perspective that Silver is going to Outperform all other Pairs since have been in this consolidation for exactly a Year now.
Let me know what you think! I'm hyped for the Result.
@bowtrix, Textbook Bullish flag forming. Clear to see. Youre just mad cryptos getting slaughtered.
RaffaeleL
⋅
@tfargo, cannot appear is not true, there are low Chances that sometimes Triangles appear in Silver market, even Elliot said so
fra978
⋅
I think u have to review ur knowledge of Elliot Wave labeling and counting.
drooyrich
⋅
silver miners are saying much lower silver prices are coming in the near term
CromCCCXVI
⋅
I've been trading Silver for a few years and the problem I have is long term technical charts don't work well without recognizing the fundamental events that can reverse even the strongest trend you can think of, and it can be absolutely non-sensical. Look at Gold last week, everything we buy can be up 20% and the Fed comes out and says "there is no inflation" and the price drops 100pts... Go to like Forex Factory and keep an eye on the events, End of Quarter, End of Month.. those aren't chartible, but you need to know them