Hi Everybody, I just wanted to follow up on the MTPredictor EURUSD Short Trade that I posted a while a ago, which reached its projected target, where the STF was "strong" so we swapped to the ATRStop for Trade management. This short trade has just been stopped out for a very nice +4.3R Profit. As such I hope this has been a great example of seeing a MTPredictor...
After making a wave 5 high in April of 2011, silver has corrected back to its wave 4 Decision Point which is the tendency after completing a 5 wave sequence. If this current wave 4 DP holds as support, then the tendency is that the prior trend, which was up, should continue up. Silver looks to be bottoming and should, eventually, begin a new bull market.
To follow on from my last 4hr Chart, here is a look at the "shorter term" 1hr Chart on the EURUSD. Notice the minor ABC correction as the decline continues. Will we reach the 4hr DP support zone ?
The daily SLV sold off in a nice 5 wave pattern down, reaching the MTPredictor minimum wave 5 target. A red high volume VSA spike came in at the low in wave 5. When this is followed by a blue buyers candle it is an indication that professionals are stepping in and buying. If, in fact, professionals are buying, then the move up should not be a small one. A DP...
A few days ago, we had a MTPredictor TS3 buy setup on the Daily YM chart. With protective stops now at break-even, this is now a "free trade". So we can sit and see if this trade pans out as anticipated.......
