The XAGUSD (SILVER) daily chart shows that the rally from 13.88 low is a classic five-wave impulse.
According to Elliot wave principle, a three-wave corrective pattern follows every impulse move and the bearish move after the completion of the impulse in Silver exhibits this characteristic.
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The corrective wave unfolded as a double three combination structure with an expanded flat in wave A, a double zigzag in wave B and wave C unfolded as a simple zigzag pattern.
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The corrective pattern also retraced about 50-61.8 of the impulse wave and reversing from a key support zone.
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If this wave count is correct, Silver is expected to make a bullish impulsive move above the previous high at "$16.18" in wave (C) or (3).
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Thanks for reading!
According to Elliot wave principle, a three-wave corrective pattern follows every impulse move and the bearish move after the completion of the impulse in Silver exhibits this characteristic.
.
The corrective wave unfolded as a double three combination structure with an expanded flat in wave A, a double zigzag in wave B and wave C unfolded as a simple zigzag pattern.
.
The corrective pattern also retraced about 50-61.8 of the impulse wave and reversing from a key support zone.
.
If this wave count is correct, Silver is expected to make a bullish impulsive move above the previous high at "$16.18" in wave (C) or (3).
.
Thanks for reading!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.