#SILVER # XAGUSD Wave C of the 2nd FLAT heading to $18
Silver's recent upmove looks complete and the initial move down from 24.86 seems to be in 5 waves, indicating that the down move may have started.
If the wave count is right, we are looking for the next downleg to make its path upto $18. At this level the 2nd ABC will be equal the 1st ABC from the Aug high. This is a normal target area.
Risk level is the recent high 24.86 .
Since the move will be a long trend , one can look to reenter if the stop is taken
If the wave count is right, we are looking for the next downleg to make its path upto $18. At this level the 2nd ABC will be equal the 1st ABC from the Aug high. This is a normal target area.
Risk level is the recent high 24.86 .
Since the move will be a long trend , one can look to reenter if the stop is taken
Michael @ SolomonsView
Twitter - @SolomonsView
Twitter - @SolomonsView
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