Time frame : All Levels to be followed on Closing basis only. Intraday Volatility may persist.
Chart Pattern Identified : BEARISH WOLFE WAVE
In its bearish version , the highs and lows are increasing and herald a downward reversal of an uptrend.
1) A significant maximum is formed, preferably an absolute maximum ( point 1 )
2) The price falls...
Made bearish flag, can breakdown, Enter below enter 6709 for the target which is given on chart just follow target and sl .
it can be reverse if here make W or double bottom. so play on levels.
REMEBER THE NAME
LEARN AND EARN
TBB- TRADE BEAR AND BULLS
This is very good example of false Breakout Trap in Flag Formation.
What happened in this case , Silver is in downtrend fir long time and a reverse chart pattern formed near the bottom of the week.
A flag formation is formed in 2 days of trading session where I used 3o minutes chart for this formation.
Once the flag formation breaks near high of the trend line...
wait n observe before taking position in silvermic
silvermic has tested the trendline 3rd time. if it breaks trendline one can wait for retracement and take short position
uptrend possibility is very less