tntsunrise
Short

Good Opportunity for Silver.

FX:XAGUSD   Silver/U.S. Dollar
8187 39 162
6 months ago
SILVER             TOUCHED 1.618
It's good to short silver             at this zone.

as long as 20.70 is not broken
you can keep this short trade.

Very big room for target.
Caution:
This is a counter trend trade,
For trending trader please kindly ignore.
Buy Low, Sell High.
If you agree with this logic, you can join the
Sell High now.
6 months ago
Comment: Now is 20.04, very nice drop
6 months ago
Comment: a very bearish bar formed. broke 20.25 support. this is a good sign for sellers.
6 months ago
Comment:
snapshot
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Felix_Baumgartner
6 months ago
what is act of fibo bro?
Reply
piriya33 PRO
6 months ago
Very nice risk/reward ratio here. Personally I'd wait for bearish divergence for this kind of trade. :)
Reply
DownUnder
6 months ago
So as long as 20.70 is not broken back up... this is short ... right ?
+1 Reply
xiiimik
6 months ago
What do you think of gold? Thanks
Reply
Anthony12
6 months ago
Is the trade still valid ? Because it broke 20.70
Reply
msagban Anthony12
6 months ago
I think by break they mean a candle should close on top of that line? Not sure, new to trading but that's what I've learned. I think it only "tested" the 20.70 and did not break it?
+1 Reply
PhamPhan
6 months ago
Thank you. Iam sell XAG price 20,5$
Reply
deepen PRO
6 months ago
There is a very big move in silver overnight. Surprising that gold is not at a new high as yet, though it is now close. Silver daily RSI was at 83 on Friday so it was already getting overbought. It should be close to ending a 5 wave advance from the June bottom. This maybe considered a 3rd wave and we would then complete wave (1) of 3 here. Important swing levels on weekly charts are at 18.48$ and 21.50$.
+1 Reply
pmcllc PRO deepen
6 months ago
I was seeing the same thing it could be the end of wave 5 then down to a strong abc
Reply
itrade9s
6 months ago
Hi Jack, I did see that big drop right before markets closed to finish at 20.04 but is that valid? I am seeing a higher spot price on other sources...
Reply
ChargingBull
6 months ago
This is a beautiful chart! Thanks for sharing. I am concerned about the bull pennant formation forming on the 15m, but could you please convince me that this is nothing to be concerned about? I like how it dropped before the close at 1 to 20.04, very nice!
Reply
itrade9s ChargingBull
6 months ago
I see 20.04 price here but I also see a canadian ETF that tracks price of silver that is not reflecting that big drop last minute, something is not right...
Reply
ChargingBull
6 months ago
We could see 19's by the end of this week.
Reply
bloodbath
6 months ago
But 20.70 WAS broken
Reply
yeocs93 bloodbath
6 months ago
I am curious too. 20.7 was broken, is it still valid?
Reply
TheDayTradr
6 months ago
Hi, Can you explain your logic behind your fibs retracement. I can understand you retrace wave 5 form 1 of the last Elliot wave formation and play the first 1,618 fibs extension but I would be interested to know how your draw it.

Thanks
Reply
tntsunrise TOP TheDayTradr
6 months ago
this is not retracement, but extention
+1 Reply
LeiJin
6 months ago
Love this chart, I agree with your point of view. Silver has been rally for a while, should be a retrace to 18 or 19.
+1 Reply
yukiko97 PRO
6 months ago
Hi Jack, i entered this trade too, i am just wondering what is your profit target for this trade?
Reply
tntsunrise TOP yukiko97
6 months ago
already in the chart
+1 Reply
MiDiGre PRO
6 months ago
I'm with you Jack from 20.55
Reply
VForex
6 months ago
Good trade, very simple!
Reply
I'm in :D
Reply
IAmAgainst
6 months ago
I am but it seems to be forming a support at the 786 retracement.. would you say we should take partial profit?

snapshot
+2 Reply
Im in for 18.00
+1 Reply
ozgurkocak
6 months ago
I am in the trade. looking for 18.50
Reply
yukiko97 PRO
6 months ago
I am in the trade, good call Jack!
Reply
ibo2
6 months ago
I'm in this trade, looking at take profit at 18.00. Optimistic about this one.
Reply
Giandomenico85
6 months ago
YES, Many thanks Jack! You said to take profit at 18. better take half of it at 19? Thanks
Reply
XTAL.ball
6 months ago
Yes! I'm all in! Great call Jack!
+1 Reply
IAmAgainst
6 months ago
Maybe it's forming a flag?

snapshot
Reply
ibo2
6 months ago
What do you guys think, are you still in this trade? I have personally exited for now, but I considering re-entering as 20.7 is still not broken.
Reply
NT95
6 months ago
Its good time to enter now? or its over?
Reply
MiDiGre PRO
6 months ago
Jack, is there any opportunity to re-enter? Thanks in advance
Reply
fali4209
6 months ago
are you still in this trade jack it looks to have changed direction
Reply
DownUnder
6 months ago
DO you think we will test high again? Or is this the beginning of the fall?
Reply
Liamfeltham
6 months ago
I believe this is still valid
Reply
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