Hello traders!
In previous posts we explained how we believe silver to have completed cycle wave (2) at 17 and about to begin a multi year uptrend to new Highs.
However, retailers are largely expecting the rise in silver, and the floor is crowded with too many buyers. Retail sentiment is from weeks 90% long. And the price action can show the way: with last rejection breaking trendline, EW count suggest a C wave to retrace much deeper.
Silver will rise, but after having shaked out all the retail buyers.
And our count fits this idea: bull trap created and big drop, people buying dips crazily dont see that wave 1 of the new bullish cycle was probably and expanding leading diagonal: it tends to retrace deep, especially would like to break 19 and grab lot of buyers liquidity and stop losses but keeping our count valid!
We will update below for possible setups!
Bests
GMR
In previous posts we explained how we believe silver to have completed cycle wave (2) at 17 and about to begin a multi year uptrend to new Highs.
However, retailers are largely expecting the rise in silver, and the floor is crowded with too many buyers. Retail sentiment is from weeks 90% long. And the price action can show the way: with last rejection breaking trendline, EW count suggest a C wave to retrace much deeper.
Silver will rise, but after having shaked out all the retail buyers.
And our count fits this idea: bull trap created and big drop, people buying dips crazily dont see that wave 1 of the new bullish cycle was probably and expanding leading diagonal: it tends to retrace deep, especially would like to break 19 and grab lot of buyers liquidity and stop losses but keeping our count valid!
We will update below for possible setups!
Bests
GMR
Trade active:
double zig zag to capitulate retailers below 20
shorts opened
shorts opened