🥈Silver (XAGUSD):Long-Term Elliott Waves

●● Preferred count
● XAGUSD, 🕐TF: 1W

Fig.1

You can read a detailed commentary on the counting of the wave structure of long-term waves in the previous review. At the moment, long-term growth is expected to resume within wave Ⓒ of III, which has the right to take the form of an impulse or a ending diagonal.
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● XAGUSD, 🕐TF: 8h

Fig.2

It is assumed that the correction within the primary wave Ⓑ formed an expanded flat. I also want to draw attention to the formed pattern of technical analysis "Bullish Wolfe Wave". The model is indicated by two blue dotted lines, the upper line acts as a target for the expected upward wave.
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● XAGUSD, 🕐TF: 45min.

Fig.3


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🕐TF: 8h

Fig.4

Locally, an alternative wave count suggests considering the probability of expanding the boundaries of the wave Ⓐ, complicating its structure to a diagonal consisting of zigzags. The markup is somewhat more harmonious, but has a number of controversial sections, for example, in the triangle X, in my subjective opinion, two subwaves are multiple zigzags, which is prohibited by the rules.

Anyway, the double zigzag in wave (2) is most likely completed. An upward wave is expected, based on the depth and structure of which we will distribute the options.
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●● Alternative count
● XAGUSD,🕐TF: 1W

Fig.5

The globally alternative count, within which a large triangle (IV) is formed (more details here), along with the local alternative, suggests the development of an ascending diagonal, but in this context - as the final wave (C) of Ⓑ.

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