botje11

Silver Wedge at long term support, Part 2

OANDA:XAGUSD   Silver / U.S. Dollar
Silver formed another smaller wedge inside of the big on one the left. So it is still moving inside the long term plan. Previous analysis a suggested another drop would happen, which it did. It bounced up and down a few times, but eventually took another drop . Was difficult to judge what it would do on that low time frame. That's why having a plan is important but also knowing if you play the low time frame or long one.
I did not want it to drop below the green, keeping that long term support intact. Now we can still see a double bottom form, meaning coming week or 2 we will go test the low again. But the wedge on the right suggest the market wont wait for it. Target of the wedge is around 15.3, so if that gets reached, we will very likely have set the low for the coming months.


Previous analysis:
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nice setup is it still in play? :) thank you botje
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Good one, thank you!
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good
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Hey goed gedaan man! Ik zit er ook in!
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botje11 boleroking
@boleroking, Mooi, hopelijk gaat die nog veel lekkerder komende weken :)
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