Silver/USDollar Entering Potentially Wave 3 or Wave 5
Eliott Wave Entering wave 3 or wave 5 of the complete basic wave pattern
Silver
Hello good afternoon traders,
i used the Fibonacci retracement tool to help me understand the retracements on this chart. After Wave 2, the Market continued to sell. Wave 2 ( a corrective structure ) is correcting Wave 1 and the Fibonacci retracement shows that clearly. It bounced right on the 61.8% level, Or you can call it a ( support line ) determined by previous price action . This was an ideal time to buy. You know what they say, Buy low, Sell high. Always wait for a correction before buying. Right now, Silver is in an impulsive motion and it's going to go past the previous high and follow it's way to the top.
What do you think ?
Let me know,
Thanks
Silver
Hello good afternoon traders,
i used the Fibonacci retracement tool to help me understand the retracements on this chart. After Wave 2, the Market continued to sell. Wave 2 ( a corrective structure ) is correcting Wave 1 and the Fibonacci retracement shows that clearly. It bounced right on the 61.8% level, Or you can call it a ( support line ) determined by previous price action . This was an ideal time to buy. You know what they say, Buy low, Sell high. Always wait for a correction before buying. Right now, Silver is in an impulsive motion and it's going to go past the previous high and follow it's way to the top.
What do you think ?
Let me know,
Thanks