Silver is currently in Wave 2 which is an ABC wave.
We appear to be making a FLAT correction, which is a 335 structure.
Wave A has 3 waves and now we're in wave B. We've only made 2 waves so far so we require one final wave higher to complete wave B.
Trade idea:
- Risk entry on bounce off fib levels
- Safer entry on break of the red trendline
- SL below price after trendline breaks
- Targets: the highs which happens to be the -0.27 fibonacci
Once we're at the highs, we will be looking for a sell setup.
Goodluck and as always, trade safe!
We appear to be making a FLAT correction, which is a 335 structure.
Wave A has 3 waves and now we're in wave B. We've only made 2 waves so far so we require one final wave higher to complete wave B.
Trade idea:
- Risk entry on bounce off fib levels
- Safer entry on break of the red trendline
- SL below price after trendline breaks
- Targets: the highs which happens to be the -0.27 fibonacci
Once we're at the highs, we will be looking for a sell setup.
Goodluck and as always, trade safe!
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