Silver / U.S. DollarUpdated SILVER - Clean & Simple 🤩
Silver is creating one of the best price actions we've seen recently. We are seeing a very clear impulse - correction - impulse.
The correction appears to be an ABCDE descending wedge - leading towards the 61.8 fib which would be a great place to take SHORT targets and look for LONGS. The buy set up looks even better but for the meantime, we can look for shorts.
Trade Idea:
- Watch for the completion of the smaller ABC correction leading towards the descending wedge resistance
- Watch for bearish price action and enter with stops above the rejection
- Targets: 21.46 (400pips), 18.7 (600pips)
The buy set up:
- Watch for price rejection at the 61.8 fibonacci
- Enter with stops below that level
- Targets: 30 (1150pips), 35 (1640pips)
As always, please take care and trade safe!
Leave your comments and thoughts below.
The correction appears to be an ABCDE descending wedge - leading towards the 61.8 fib which would be a great place to take SHORT targets and look for LONGS. The buy set up looks even better but for the meantime, we can look for shorts.
Trade Idea:
- Watch for the completion of the smaller ABC correction leading towards the descending wedge resistance
- Watch for bearish price action and enter with stops above the rejection
- Targets: 21.46 (400pips), 18.7 (600pips)
The buy set up:
- Watch for price rejection at the 61.8 fibonacci
- Enter with stops below that level
- Targets: 30 (1150pips), 35 (1640pips)
As always, please take care and trade safe!
Leave your comments and thoughts below.
Note
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.