Silver still looking down

Silver is worrying its way down and may eventually get down to the daily trend line ($15.60 area). Short term it may break for another down. We are getting to a confluence of indicators where I believe we will see either a large correction for the second X wave or the first wave in a new up move.
That being said watch for indications that the bear moves are over.

評論:

We readjusted trend line due to the lower low. Indicators are beginning to show slowing conditions. Watch for a strong break of the TL with a close above and a bull flag to indicate a HTF correction or reversal.
*As I am typing this there is a strong move away. Don't be too hasty wait for confirmation as this can reverse or be a slightly larger flag like a two flags above.

Let price action tell you what is happening.

評論:

評論:

I am looking for a shallow price correction and a break out of that correction, This will indicate reverse in trend. First target will be near the 4 hr trend line. I will be looking long term for the break of that and a HTF impulsive wave up. But one step at a time.

If you like my ideas please let me know with a thumbs up or a comment. If you disagree please let me know why. All constructive criticism is welcome.

Please be sure to trade your your plan and use proper money management techniques.