SILVER - Next Wave Up 📈

SILVER

I think SILVER and GOLD may be into the next wave up here.

It had a fast slump, moved on up, had another weaker slump with a higher low and now moving up again.

I think that is likely to be a typical bullish 3 wave correction.

Notice how the overall trend trajectory has not been affected by the 3 wave correction.

That is another bullish clue I think.

The next wave up could be underway here.

And this looks a reasonable dip buy; trading with momentum 👍.

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SILVER

Taking a bearish turn here so perhaps better to top up later as this could be a shakeout into another wave down here 🤨.

تعليق:

Did look bearish but lower wicked candle shows buy pressure coming back in.

These lower wicks can have more significance in a strong uptrend.

I bought the dip again 👍.

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I've looked at GOLD and SILVER more and I think; looking at higher time frame its a bit smelly to add more in this area.

I dont like two upper wicked candles; the second just printed.

So i'll exit what I added today here, and i'll only add to my position if there is a real pull back 👍.

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SILVER

There is a lot of calm vs whipsaw in this area which signals that this is a coil printing / contracting triangle.

No guarantees that it moves on up from such a pattern but it most likely to be a bullish continuation pattern.

And it could be an explosive one.

4H RSI in that nice middle sweet spot too.

This entry is a bit back and forth as I look for the reveal, but perhaps this is it here 👍.