Break of Downtrend Channel and Bullish Cycle

So what we have here is a breakout from the Downtrend channel and if you are invested in silver at this point you may want to look at constructing a trading plan around it. I have a bullish algo cycle in the works until 9/25/2017 so you would look at buying the dips or scalping until then. OUr upside target is 17.58 with buy entries coming in at the 16.22 - 16.29 level with current intermediate support at 16.53

If we see high delta to the algo wave occurring between now and the 25th you will want to place a strangle on it with a bias to whichever side of the wave delta is happening.

Trade safely.

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Place your stops at the inertial line and trail it up. This is a critical juncture so manage your trades diligently

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Your stops should now be place at 16.40 as we did see a wick above the channel so we should see some kind of pullback. A move below 16.40 would also indicate the bullish channel has been broken.

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SLV is continuing on the path we laid out, your stops should be placed at 16.92 with the ideal re-entry point at the 16.47 - 16.49 range although there is also a small level of support at 16.82

If your stops are triggered use the 9-49 on a 3m chart (or 8-34) and ignore more aggressive 2-33 tick or 1m triggers (just some advice)

Upside target remains the same at 17.58

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pay attention, first line of retracement, look for a trigger

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Price is consolidating at 16.22, watch for a trigger to go long

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triggered

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Trail stops. Watch the 16.50 level as it needs to clear over the next couple days to stay long