Completion of 5th Elliott's Wave on Silver Daily Timeframe
21.50 which has been quite a solid support in the last two years has been breached (Wave 3) and an ascending wedge/bear flag has been broken (Wave 4).
Once price is traded below this Month Open (which is below 21.50), there is a high probability that it'll test 19.00-19.50 area.
Once price is traded below this Month Open (which is below 21.50), there is a high probability that it'll test 19.00-19.50 area.
Order cancelled:
-Market failed to go lower than 20.8 - twice (especially after a bearish pattern breakout show hints of strength).
-DXY showing a breakout to the downside.
Back to neutral stance now.
-DXY showing a breakout to the downside.
Back to neutral stance now.
Trade closed: target reached