Silver is camped on top of the 78.6% retracement level -- this level is rooted within the fibonacci sequence and is considered the retracement of last resort.
The up trend from March breaks down as a double zigzag in Elliott Wave terms, this is a corrective structure implying that the whole trend is likely to be retraced at some point in the future.
I prefer break out trades in these scenarios...let the market tell you when it is ready to move in the direction you think it will. In the break out scenario, the stop loss would go just above the swing high. If silver bumps higher over the next couple days then the stop would go above that high if the breakdown would occur.
If interested in more Elliott wave analysis, let me know.
Cheers!
The up trend from March breaks down as a double zigzag in Elliott Wave terms, this is a corrective structure implying that the whole trend is likely to be retraced at some point in the future.
I prefer break out trades in these scenarios...let the market tell you when it is ready to move in the direction you think it will. In the break out scenario, the stop loss would go just above the swing high. If silver bumps higher over the next couple days then the stop would go above that high if the breakdown would occur.
If interested in more Elliott wave analysis, let me know.
Cheers!
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Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。