Idea for long entry as silver rebounds on the pullback.
2 possible counts. The green count seems more likely because I see 5 wave subdivisions within the larger waves. We just reached the 1:1 fib extension and if we can continue upwards through there, our chances improve that this trade continues upwards. Breakout will be confirmed if we reach $11.60
Let me be clear that until we break to new highs (~11.60) with confidence, there is risk still for one last pullback to (~8.90). However, the fundamentals are lining up for silver to go parabolic, whether that happens immediately, or the beginning of next year. My long term target is in the $20's
This chart might tell you when market sentiment starts to change. Could it come back down again?
A great spot to enter this one as it pulls back. Check out that volume bar!
Its early (downtrend still intact) but SILJ is setting up a potential flag. Above $13.50ish and this is a monster pattern. For those with a tolerance for risk the risk/reward, even before the breakout, is compelling.
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more than one year long channel and massive overselling, especially the past few weeks. BUY Limit at 10.25, TP: 13.80, SL: 9.10. 3:1 risk reward. TP is 34.6% ROI, SL is -11.2%