According my elliot count XAGUSD really responsive elliot wave theory rules. First let's look general view;
In this view, W and Y has 1:1 extension exactly.
Latest correction of small impulsive wave in 2016,
W and Y has 1:0.786 extension which is technical. You can see here;
What i am expecting now?
In this impulsive wave, i am expecting to this +$21 area in 2020.
After that correction will occur during 2021.
If correction plays ideally, $16.67-$17.53 would be ideal buy opportunity for Silver. (After hitting $21 area)
And then for 3rd impulsive move, i am expecting +$28 area in 2023.
I will update this analysis after years.
This is not a financial advice. Educational purpose only. Follow, like and share for more thanks.
In this view, W and Y has 1:1 extension exactly.
Latest correction of small impulsive wave in 2016,
W and Y has 1:0.786 extension which is technical. You can see here;
What i am expecting now?
In this impulsive wave, i am expecting to this +$21 area in 2020.
After that correction will occur during 2021.
If correction plays ideally, $16.67-$17.53 would be ideal buy opportunity for Silver. (After hitting $21 area)
And then for 3rd impulsive move, i am expecting +$28 area in 2023.
I will update this analysis after years.
This is not a financial advice. Educational purpose only. Follow, like and share for more thanks.