We are currently watching price action on the potential bullish bat
pattern which formed when silver
finally tanked, which took quite a bit longer than we originally expected. If the lower time frame price action cooperates then we will play the bullish pattern
on a shorter time frame as trending indicators dictate until such time as the second, bearish
, pat pattern completes at the 0.500 retracement
, or as trending indicators dictate.
We expect this market to continue to correct downward and are therefore long term, bearish
, despite the market having short term upside potential.
My posts are my opinions and are not trading advice. Please stick to your system and don't let my speculation cloud your judgment concerning actual price action. Always trade responsibly and remember to manage your risk.