This is a potential assessment I am currently watching closely.
As it has a potential of a 30% drop in price (bear market by
some measures), I have to consider it. I leave it to each
of you to further investigate (if desired). This triangle
is being considered within the context of a 4th wave.
It appears that Silver has seen a 5 wave move up, and is currently
in the process of correcting this move. I am looking for an initial
target area as highlighted on the chart. This could expand lower
should the correction entail more than a simple abc zz.
An apparent diagonal suggests that we will be
seeing a retracement move down in the near
future. Looking for turn down on smaller
TF (ex. 8/34 cross, etc) to trigger short.
Will be looking to reenter long once