Take any whickoff chart and overlat it on silver.
Its textbook pattern. Patterns are identical.
Silvet should now consolidate at the bottem of the range and eventually brake it do the downside with another abc move.
So:
Q2 : 18,5€
Q4 : 16,5€ first resistance
Q1 : 15,0€ bottem.
Thid means a good 20% drop from where we are. If dxy goes up to 120, eur/usd to 0,8 ,...
nice falling wedge setup after breaking out from bigger pennant, Signaling a continuation break out. Looking for price to get tight above capitulation wick into a a final squeeze then breakout. Could be a trade to push since the the target from initial breakout is much higher. Pattern to trigger bigger pattern.
if you like my strategy, please strictly control the single loss between 1-2%. We have played many games in the market. The investment itself is very low-risk, and irrationality is the biggest risk.
My trading behavior report is available at the link below.
I can analyze the market in a short time, involving foreign exchange, encrypted currency, commodities and...
bullish vision, target 21.05670 , be on the entry point at the reach of the price 19.97571 , cancellation if break of 19.20010 . this does not constitute a solicitation to trade.
We see a corrective pattern that indicates more selling to come.
The correction can extend and get complex but for us we will wait on lower timeframe action.
Trade with care use a stop loss.
So tell me:
Is it more likely that silver falls to zero (worthless) or goes to 40 ?
All this may take some good time and your rollover / overnight fees in cfd have to be considered.
But overall - for me - it seems that chances for 40 are greater...
keep in mind:
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