Long Term Correction Short

FX:XAGUSD1W

Silver/U.S. DollarFXCM

Description

⋅ Sep 8, 2018 4:28 PM

Short on Silver

Chart Patterns Wave Analysis

Comments

LetsBeMillionaire

⋅ Sep 8, 2018 11:17 PM

y do u think silver will go below 12 even? AISC for most of the miners is 13. you ar targeting 6? isnt it too optimistic?? do you see COT report?

zeng1982

⋅ Sep 9, 2018 3:44 AM

@LetsBeMillionaire, he forgot to considering inflation

zeng1982

⋅ Sep 9, 2018 3:47 AM

@LetsBeMillionaire, he forgot wage increase more than double in this 20 years

jayjay10

⋅ Sep 9, 2018 10:42 AM

Hi, the 5th wave was extended, often a deep correction follows. Looks to me that the support zone in which silver currently is in will not hold for long. Next major support zone which was not back tested yet used to be strong resistance.

LetsBeMillionaire

⋅ Sep 9, 2018 6:24 PM

@jayjay10, @zeng1982 Jay - dont u see W forming soon? \/\ is done a nd / will be happenign soon? instead of this chart, i see W is more appropriate...

LetsBeMillionaire

⋅ Sep 9, 2018 6:40 PM

@jayjay10, @zeng1982 My friedn, if you see weekly COT report, 1st time in history COMMERCIALS and BANKS both are LONG 1st time and its heavily shorted. GOLD SIVLER ratio is at peak. Silver beaten down more than gold. Short covering coming soon in next 1-3 weeks.. which will spark rally Silver to 17 in no time.

jayjay10

⋅ Sep 10, 2018 12:08 PM

@LetsBeMillionaire, Fundamentally I am bullish on Silver and Gold. We are just in a normal, necessary correction. Question is how long and how deep will it go, but I am 100 % sure, that we will see many more all time highs afterwards!!