In the previous post we outlined two possible scenarios for silver:
- the possibility of cycle corrective wave 2 to complete at 16
-the possibility of main long term uptrend already resumed
Concerning the latter, we arrived close to wave 4 invalidation point and the price showed strong reaction.
We can see in the lower timeframes a micro 5-wave structure and a pennant. Therefore we are long from @21.81 for the bullish scenario. Stop loss is at 21.63 for 0.5 % equity risk.
We will update below.
Happy trading!
- the possibility of cycle corrective wave 2 to complete at 16
We can see in the lower timeframes a micro 5-wave structure and a pennant. Therefore we are long from @21.81 for the bullish scenario. Stop loss is at 21.63 for 0.5 % equity risk.
We will update below.
Happy trading!
Trade active:
stop loss extended to invalidation @21.17 risk 1.2%
Trade closed manually:
Resumption failing, cutting at 21.55 loss 0.6%
