Silver : Wolfe Pattern
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Silver looks to have formed bullish Wolfe Pattern on daily chart. Breakout has already taken place. Silver should touch $15.65 by ETA of 13th May 2019 (converging point of wedge). Wave 1 took 11 days , wave 2 took 11 days, wave 3 is much shorter and took 4 days (aberration), Wave 4 took 10 days. If we go for symmetry then we won't find as Point 1 to 3 took 22 days but point 3 to point 5 took 14 days.
It is up to the analyst to consider it Wolfe or Bullish Wedge pattern. Stop loss of buy would be on close below low of Point 5 which is $ 14.70 (margin of safety).
It is up to the analyst to consider it Wolfe or Bullish Wedge pattern. Stop loss of buy would be on close below low of Point 5 which is $ 14.70 (margin of safety).
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