A daily close below the flag @ 18.40 should send us down to about the 18.10 to 18.20 level.
A daily close back above 18.62 will resume the uptrend.
I am not short as the long term trend is strongly up.
Trade closed manually
Pullback idea wavecount invalidated
a failed sell signal is a strong buy signal - more long positions added
Looks the original idea may have worked out after all although i would not short this market at this time we have a pullback in effect. A bounce off the 618 at the exact center of my target time/price zone. I dont see much more downside from here.
Trying to analyze silver without some sort of intermarket analysis is a losing game because of the volatility. Also check gold/DXY/ and usd/jpy to determine the dominant trend.
a lot of silver changed hands today on what looks to be a developing pinbar.