FX:XAGUSD Silver/U.S. Dollar
I am long from 16.50. I DO NOT think prices have bottomed yet.
Comment: Setting up to his the 17 handle on Monday
Comment: First layer hit. (I think this is more likely to be a bear market rally, so be aware.)
Comment: No interest in trading in and out of this. I am adding to my position this week. Smells like an explosive rally is coming.
Comment: I added on Friday at 16.35
Comment: Pattern formation and directional possibilities I'm seeing right now:
@Lanmar, Love your work, keep it up man.
@PKA, Thanks a lot. Much appreciated
Good question. It was invalidated for me yesterday in the late afternoon when it was trading at 16.60. I have no intentions on buying in any intraday timeframe atm. Reason being, the intraday risk is no longer sensible. Very easy to get stopped out at this point and price reverse higher. For example - you go long at 16.30, where will you place your stop? Under the low of last week? 15.90 - 16.00? Why do that if that would be a good entry on the daily? So the only risk that makes sense is a wider stop (daily+) or just wait for improved price action.
@Lanmar, thanks so much for replying you are really helping me learn and are the most accurate market predictor ! :) great work man
@Ranothil, Thank you! Glad I could help you on this wild endeavour!
@Lanmar, Because price is spiking so fast, I think they are going to reverse it for one more down to retest December lows. I don't think it can break this time