FX:XAGUSD   Silver/U.S. Dollar
140 3 9
Last buy in silver             didn't work out. Here's my working thesis assuming we get a corrective bounce soon. I had thought this could be a 4th wave off of the early June low, but too deep now. Going with a truncated wave 1 of (3) until proven otherwise. Not catching the knife here, just looking for a possible set-up to trade long again.
Since I don't see anything impulsive looking initiating the move down off the summer's highs I'm giving bulls benefit of the doubt.

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Tough to predict the exact timing, but here's where we are this morning...
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nick.holland78 PRO nick.holland78
2 months ago
Fell out of my channel. Was just a notional path anyway. Seems wave (iii) needed another little iv-v to complete. I'm still expecting a corrective bounce in wave (iv) soon. Yesterday's bounce seems too shallow to be all of (iv).
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