I believe Silver (XAGUSD) is in a clear bull mode that started on May 9 at around $16 even, after a massive 17 day non-stop selloff. For context, my view is that intermediate waves 1 &2 of this move up since $16 are complete, as well as minor wave (1) up of intermediate wave 3. Note that I really doubted the value of EW until I saw how wave (1) of intermediate wave 3 played out textbook so I wanted to try my hand at charting what could be the end of minor wave (2) of intermediate wave 3, and the start of the real fun at 3 of (3).
My idea is that minor wave (2) seems to be doing a 3-3-5 wave expanded flat, culminating at 16.75, the 61.8% retracement of wave (1) of 3. Let's see if we can surf this bad boy into profits so we can load the boat at 16.75. Targets before then are 17, then 17.4 for the end of wave (2). Thanks for looking and appreciate all feedback.
My idea is that minor wave (2) seems to be doing a 3-3-5 wave expanded flat, culminating at 16.75, the 61.8% retracement of wave (1) of 3. Let's see if we can surf this bad boy into profits so we can load the boat at 16.75. Targets before then are 17, then 17.4 for the end of wave (2). Thanks for looking and appreciate all feedback.
Komen:
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