Want An Edge? Use Your X As Wel As Your Y: Part 2 Of 2, SLV

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As I said in part One, So may times I see market participants make projections based on price structure alone. This, for sure, is a sound approach. The price projection is based on the chart in relation to the Y axis (vertical, up and down). Regardless of your technique, if you are serious about your trading, and you want an edge, try using Fibonacci time cycles (this is your X axis, or side to side). How can you start? Pick the trade system that works for you and then take a significant event as your start point. For silver             (using SLV             as a proxy), I chose September 30, 2015, when SLV             began a rally after closing at $13.87. As I "spread out" the Fibonacci time cycles (these are the vertical blue lines) I tried to fit them to SLV             major events. Let's see what I found: At Fib 0 was the Sept 30th low of 13.87. At Fib 1 a confirmation of the rally was still in force, but you received a warning that Stochastic / RSI was headed down, vortex was sagging, and the red/ green bars clearly were telling you of a reversal to a down trend. Fib 2 indicated a pickup in SELLING, as the alligator's jaw, lips, and teeth opened wide TO FEED ON THE DOWN TREND. Fib 3 was a warning via the thick black Ki jun-Sen baseline which turned on a dime and plummeted down, and, the cloud itself started down. Fib 5 (remember, Fibs are 1-2-3-5-8-13, etc), told us we were heading into a major trend reversal to the upside. The red Ichimoku Cloud conversion line turned up, the thick black Ki jun-Sen baseline turned up, and, LOOK at the yellowish line (lips), black dots (teeth), and blue line (jaws) of the alligator . All turned UP, like a FEEDING ALLIGATOR . Fib 8 was March 23, 2016, when SLV             reversed to the downside. Please note that the alligator started feeding down, the thick red conversion line of the cloud turned lower, and the Ki jun-Sen baseline had remained flat too long, with SLV             trading below this important level. ONE IMPORTANT THING YOU SHOULD KNOW: I made the Fibonacci forecast a month ago. The Fib time cycle told me March 23rd, but it didn't tell me which way. As we approached this date the indicators I use told me. So, I suggest you use your X axis as well as your Y axis. If the trading technique you understand is acting as you think it should, the Fibonacci time cycles can guide your timing. If several of the Fib time cycles match what you have charted, the future Fibs are likely to indicate the "when". Never be timid about trying something new. MARK TWAIN said it best: “When I was a boy of 14, my father was so ignorant I could hardly stand to have the old man around. But when I got to be 21, I was astonished at how much the old man had learned in seven years.”
I hope this has been entertaining as well as informative. Yours for better trading, Don.
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