Update to this idea
Slight variation as I noticed that when price bounced from 5400 levels it was the 0.5 retracement of the yellow wave 1 I have shown.
If it is a wave 2 retracement at 5400 level then we may have had wave 3 early in the week post Saudi attack and already completed...
An update to this idea >
The triangle appears to have broken out to the upside and if the sideways movement between 13th August high of 57,43$ and 3rd September low of 52,87$ was wave 2 then we could be in for a big move upwards towards 63,99$ (1.618 extension).
Breaking the high at...
An update to a chart from 12 months ago on Silver >
It could be that a long term correction completed at 13.891$ and now in the early stages of an impulsive move.
Could be in wave 4 now but if price drops below 16.213$ then it would invalidate this theory and could potentially just be...
Follow up on this idea on smaller timeframe >
Since the bounce from 5482$ there appears to be another 5 waves up from that low to 5726$, hitting the .382 extension perfectly. May now see another mini correction before another new high.
A break below 5481$ would invalidate this idea.
A theory that all this sideways trading since we hit the 5740$ high in mid August has been a complex correction to the move up from 5050$.
C wave may have finished at 5280$ and if we completed 5 impulse waves up from that low to yesterdays high at 5770$ then we may see a correction before another move up and a new high.
A follow up on previous ideas:
My thinking is the triangle breaks out soon and that wave B (white) of Y (yellow) at the recent low at 505X is complete and ultimately head towards high $60's.
A smaller timeframe idea following from some recent ideas.
1.618 was hit so if this count is correct then we could be starting subwave 4 of 3 (or C); a break below $56,96 would invalidate this count.
If the $60 area is the end of wave C then there could be a big drop in price below...
A small timeframe idea linked to these two ideas:
Possibly in the early stages of an impulsive wave 3, but possibly a dip in price before it gets going.
If price drops below $54,98 then this count is invalid...
An update to this idea specifically:
Thinking that A & B of of a larger Y wave are completed and C of Y could begin soon; the red dashed line on this chart is the monthly bearish trendline below:
All part of larger degree idea here that the...