Laying out this X-wave Cycle-wave advance in Silver and trying to decide in my mind whether or not to partake… The corrections of the advance are likely to be less extreme than I’ve shown, and the whole thing is more likely to look like an exponential roll-over approaching the 61.8% Fibonacci limit at $18.369.
The bottom definitely is not in and there is a deflationary event on the horizon where all assets, Silver included, are going to get Hammered, Silver to tune of down to $10 to $12.
So, I’m looking at buying 5 figures silver on the (b) retracement around $15 and then dumping close to the x-wave top around $18. Even buying 100 oz. Silver bars there is likely to be at least of $1 of slippage in the round trip. Honestly, for the pain in the ass of it, I’d almost rather blow the money on Booze and Women…
The bottom definitely is not in and there is a deflationary event on the horizon where all assets, Silver included, are going to get Hammered, Silver to tune of down to $10 to $12.
So, I’m looking at buying 5 figures silver on the (b) retracement around $15 and then dumping close to the x-wave top around $18. Even buying 100 oz. Silver bars there is likely to be at least of $1 of slippage in the round trip. Honestly, for the pain in the ass of it, I’d almost rather blow the money on Booze and Women…
Trade closed: target reached:
So, the market put in a b-wave down to 14.30, where I picked up a tube of Silver Eagles, and I rode my five figure uslv position up to a little over $19 silver. I figured it would make it to 19.3, maybe 19.5. It made it to 19.576... Currently I'm out of the paper Silver market. I expect it to trade down to around, say, $15.5 by late September. Things could also completely fall out of bed, so I'm not positioning to catch any falling knifes. Just waiting for the market to tell me what to do...
