faylee
Long

Silver -D, will break out 16.2 tonight!

FX:XAGUSD   Silver/U.S. Dollar
372 21 6
Just holding long positions,and wait!
Trade active: just by at 16.1, and a new high can be expected today
Comment: a new high for 16.382, approach to our goal:16.4. Get ready to close the trade or reduce some positions.
Comment: 17.48 is an important resistance in this week, can pocket some of the profit, and wait for next week retracement.
I'm impressed. You are good!
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faylee bracken
Thank you:)
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Short term I see you're a bit bearish DXY; but longer term bullish (there is a bullish bat on that chart) which means SLV, GLD should start falling since the USD is getting stronger. How could we also factor this when looking at the silver chart above? Does the pattern still hold?
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faylee AdrianM
DXY bullish bat was unconfirmed yet! On week chart, There maybe A Double Top, but still not yet confirmed.
Silver long term bullish bat could be confirmed since after several retracement, it didn't fall below 14.5.
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AdrianM faylee
Thanks! Nicecharts BTW!
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snapshot


Hi, thank you for your post.
Attached is my analysis which is very close to yours. I prefer to buy on the bounce from the trend line.
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faylee senejani.ali
Agreed with yours. But switch to 1h time frame, it has retraced 38.2%, today new high can be expected.
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Yes, it retraced nicely.
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senejani.ali PRO senejani.ali
snapshot


Dollar Index dropped today but Silver instead of going up, it came down. Any thoughts? Also where is your SL?
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faylee senejani.ali
WTI oil went down today, may affect commodity index, so do silver. I expected silver a new high 16.4 around, ready to close the long position.
long term view is still long. but wait till retrace.
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Thanks.
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faylee senejani.ali
You're welcome
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great work, I think R2 reached also... now what is next target, back down for correction..or continue rocket
+1 Reply
I will take portion of my profit off and let the rest run till 17.661. And I will wait for a pullback to 4th wave then I will buy again.
Let's see what the expert advises us...
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faylee senejani.ali
Me too, i've just pocket the profit at 17.17
+1 Reply
DownUnder senejani.ali
Ali, your pullback to 4th wave, is it around 16.90 (this hit now)... for buy again and ride up to 17.66, thanks
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Hey. I was talking about the bigger wave. For now I will stay away as i closed most of my lots and will wait for a retracement sometime next week.
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faylee DownUnder
17.48 is an important resistance in this week, i've already pocket the profit at 17.17,wait for retracement in next week .
+1 Reply
EW and Faylee both rock... Silver nailed it :D
+1 Reply
faylee senejani.ali
good luck with your daily trading:)
+1 Reply
Very Interesting situation now, back up to higher highs, or down an out. ?
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