I was supposed to post this last week. But I'll explain the markup soon!
Comment:
**NOTE: I took too long to edit that's why description is what it is lol**. I just started trading silver last week and I fell in love with this pair. The profits went crazyyyy! For this markup I had a bias that it was continuing a down trend. I saw the major impulse move down from the 24.500 level all the way to the 22.000 level where it rejected and made what I thought was a retracement bouncing off the 23.000 level within the golden zone of my fibs. Then it made a LH and LL, now it's rejecting the 50 level of my fibs. I was expecting price to hang around the 23.000 before making it's next move. I think it's going to reject the 23.000 level and head downwards as I have marked out with the Elliot wave tool making its next impulse move, but I'm not sure. To enter I'm waiting for EMA cross down, candlestick pattern, and confirmation. The short position is a representation of where my ideal entry would be, my take profit and stoploss. Truthfully, I would move my stoploss up just a little more above the previous high for precaution. But yeah, we'll see what price does. As always, please leave a comment I would love to read your thoughts!
Comment:
I got in this trade for a sell. Price did exactly what I predicted in my analysis. All my confluences and confirmations were apparent. Currently in profit. We'll see what happens in the morning