Silver into retrace territory (profit taking)
Hi All,
If you have been trading (short term) longs into this area you should start taking some profit off the table. 50% is probably a good idea.
We are at 18.26 territory where lots of resistance was expected and we have a nice pull back to the previous 4th wave. I do expect some side ways movement here.
Suggested trade:
Take 50% off the table -
Once the price has gotten support over 18.20 you should move your stop to 17.95 (the previous 4th wave)
Invalidation is the green box (if it gets into that area we have to be careful)
I have been counting all the smaller waves .. I will do a longer term forecast next day or so..
Take care
If you have been trading (short term) longs into this area you should start taking some profit off the table. 50% is probably a good idea.
We are at 18.26 territory where lots of resistance was expected and we have a nice pull back to the previous 4th wave. I do expect some side ways movement here.
Suggested trade:
Take 50% off the table -
Once the price has gotten support over 18.20 you should move your stop to 17.95 (the previous 4th wave)
Invalidation is the green box (if it gets into that area we have to be careful)
I have been counting all the smaller waves .. I will do a longer term forecast next day or so..
Take care
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