pullback to 16.73 and up through 17...
confirmation for my second entry based on past analysis EMA 50 Support Bullish 61.8 fibo Counter trendline break for extra confluence Target is 16.300 z0ne which aligns with 61.8 bearish on bigger timeframe
Bullish 38.2 fibonacci 161.8 Target aligns with bigger time frame 61.8 retracement level Counter trendline break and Retest EMA 50 support
Silver has reached a critical support. I will stay out until price gives clues on future directions.
Going for a long term swing hold on silver. Pending order ready for after short from 38.2 Fib Retrace
Silver has been moving simirarly to Gold. It just broke a rising channel bearishly. Based on Fibonaci, I expect more downside movement at least until 15.3 euros.
I'd highly reccomend investing in Silver, if your local currency is the Euro. You can take a longer term position here, risking 5% of your capital without a stop loss, or take a more 'swing' style trade, with a stop loss under 16.39. Upside is considerable, specially factoring in a potential USD rate hike that might destabilize all currencies, potentially resuming...
XAGEUR IS IN ABC CORRECTIVE STRUCTURE
XAGEUR is currently in a corrective downtrend. I am not interested in the downtrend at all, it may continue a bit more down. However i will watch it closely for the breakout to the top (i will not trade it, till i confirm the breakout). As we see there is a series of indicators which forecast the up movement (more details on the chart). Thank you for your support.