menyuken
Long

Silver is running into a potential Butterfly.

FX_IDC:XAGUSD   Silver/U.S. Dollar
61 1 2
Silver             is running into a potential Butterfly . Now is very good opportunity to SHORT, then as there is structure around the 1.272 position. So let's wait and see the kindle reaction there. To my understanding, that would be a very good LONG opportunity. Let's wait and see.
Comment: Huge kindle in CD might move D to 1.618, and actually the resistance structure around 1.618 is more reasonable. So let's see the kindle reaction there.
Comment: Got ready to OPEN LONG on Monday according to following fact;
- Resistance structure + MA 200 provided support
- 1.618 has been arrived, the Butterfly has been finished
- RSI is in Oversold Zone (No Bottom Divergence at this moment)
snapshot
Huge kindle in CD might move D to 1.618, and actually the resistance structure around 1.618 is more reasonable. So let's see the kindle reaction there.
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