Silver has broken out of the recent down trend and looks like it will be long for quite some time.
That does not mean it won't have significant shorts as it progresses.
The current structure looks like it will break short within the next week so I will not trade it until it breakout of it current diagonal.
As we know it may do the opposite of my prediction but we protect against that possibility by being patient and waiting for the chart to show us what it is going to do.
Wait for the breakout and an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome
Good luck Steve
That does not mean it won't have significant shorts as it progresses.
The current structure looks like it will break short within the next week so I will not trade it until it breakout of it current diagonal.
As we know it may do the opposite of my prediction but we protect against that possibility by being patient and waiting for the chart to show us what it is going to do.
Wait for the breakout and an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome
Good luck Steve
Comment:
Probably time to start thinking about the long trade - watch MACD for change in momentum
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