MCX:SILVERMIC1!
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...
69350-69450 Critical resistance level.
IF Silvermic respect that level it will fall to 67400 for now and will face correction.
And if it sustains above 69500, It will make a swing high of 73000.
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
in.tradingview.com
SilverMic_Current_Future : This seems bearish to all of us. The head & Shoulder, Rising Wedge, and Elliot-wave...three major indicators are should bearish. Prepare you sort selling.
Silver in INR terms is forming a multiyear flag and pole pattern. It is consolidating after breakout. It is a long and big bet so position yourself with a bigger vision.
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...
Silver rejection at trend line
Hourly bearish engulfing
Shooting star at resistance
Sell on pull back only if it breaks 56800 area
Sl 57200
Target 55000
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
MCX 
