Silver EW counting - long preferred trade

2017年6月21日

Hi all,

The hard thing about typing the publish idea here is that I have to have 2 monitors and I can't really do this on a phone or a pad.

So here it is.. as best as I can understand it..

There are a few confusing aspects like the purple B wave is a 5 wave move and that the purple A is so YUGE..

Lets talk about Purple B - the reason I have put it as a corrective move is because wave 4 on Purple B overlaps with wave 1. If that didn't happen I would have it as a 1 which would wreck most of the counts before it..

The purple A price drop, I am going to attribute that to data driven.. the reason is this happen just before the Fed raised rates so understandably prices for Silver will readjust down when the dollar seems to become stronger.

This comes to my problem - the dollar has plunged and now it is at 97 -- it was at 115 not too long ago so technically if past trends count silver follows the opposite of what the dollar does..

This begs the question how do I enter a trade here...
Stops
a) Longer term trades under 15.62 (for longs)
b) Day trading 16.40 (for longs)

Trades:
Short:
a) Longer term trades should not short and should be long
b) Day traders can short on break of trendlines right now at around 16.40 naturally your stops should be over the last spike which is at 16.61

Long:
On break of the purple trendline running from b to c..

My longer term look at the chart at it's current formation is that prices will be going higher after the completion of purple C.

Thanks all