So much excitement over the price action in Silver, with the nice move on Friday. So I figured I’d post a short-term chart, so at least the people who look at my stuff won’t get burned.
The big picture is this is a C-wave sell-off within a larger C-wave sell-off, to finish off an even higher degree b-wave. So, expect prices to drop pretty relentlessly with some sort of accumulation pattern close to the bottom. A pair of double Zig-Zags as shown on the chart would fit the bill nicely. The best way to trade this is dollar cost average your way in, buying when you can get good deals. In sell-offs there are always lower prices in the future.
The big picture is this is a C-wave sell-off within a larger C-wave sell-off, to finish off an even higher degree b-wave. So, expect prices to drop pretty relentlessly with some sort of accumulation pattern close to the bottom. A pair of double Zig-Zags as shown on the chart would fit the bill nicely. The best way to trade this is dollar cost average your way in, buying when you can get good deals. In sell-offs there are always lower prices in the future.
