Silver Hourly timeframe inverted head and shoulders
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Quickpost here, the head and shoulders looks obvious and MACD and RSI situations look very favorable for a pop to the upside.
If we were to get anything resembling full performance on this formation that would have price action wicking back into triangle on the monthly timefrae. At that point it would remain to be seen if price action would continue down or price action would be bound within the triangle. From a trading standpoint it would just be easier if the price actin mounded a moving average and just rode it out the wedge and performed to the upside but I don't think we will see that. The times in general are just to volatile.
If we were to get anything resembling full performance on this formation that would have price action wicking back into triangle on the monthly timefrae. At that point it would remain to be seen if price action would continue down or price action would be bound within the triangle. From a trading standpoint it would just be easier if the price actin mounded a moving average and just rode it out the wedge and performed to the upside but I don't think we will see that. The times in general are just to volatile.
Trade chiuso: obiettivo raggiunto
Looks like we are within seven cents of target now I am going to basically say target reached on this particular set up. From a technical standpoint on this set up we are done. Which means that the price action could grind lower against the base of the triangle, dip to the 500M EMA again, or continue upward.
I think we could certainly see another sell off in paper silver while physical silver continues its way upward so if you are trading and investing you have to be prepared to operate in a complex world.
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