Hello everyone, if you like the idea, do not forget to support with a like and follow.
SILVER is approaching support in green and brown trendline from H4 so we will be looking for trend-following buy setups on lower timeframes.
on H1: SILVER is forming a channel pattern in red but it is not valid yet so we will be waiting for a third swing high to form around our upper red trendline to consider it our trigger swing. (projection in purple)
Knowing that SILVER can still test the support and form two swings around the upper red trendline before the buy setup is activated (projection in blue)
Trigger => Waiting for that swing to form (one or two) and then buy after a momentum candle close above it. (gray zone)
Until the buy is activated, SILVER would be overall bearish and can still trade lower and lower.
And of course, as SILVER approaches our upper blue supply and round number 30.00, we will be looking for sell setups.
Good luck!
~Rich
SILVER is approaching support in green and brown trendline from H4 so we will be looking for trend-following buy setups on lower timeframes.
on H1: SILVER is forming a channel pattern in red but it is not valid yet so we will be waiting for a third swing high to form around our upper red trendline to consider it our trigger swing. (projection in purple)
Knowing that SILVER can still test the support and form two swings around the upper red trendline before the buy setup is activated (projection in blue)
Trigger => Waiting for that swing to form (one or two) and then buy after a momentum candle close above it. (gray zone)
Until the buy is activated, SILVER would be overall bearish and can still trade lower and lower.
And of course, as SILVER approaches our upper blue supply and round number 30.00, we will be looking for sell setups.
Good luck!
~Rich