Thank you for taking the time to read my idea, your support is appreciated.
Silver broke out as we expected but pulled back a bit harder than expected.
Sometimes weak hands are tested by the big boys.
This gave the bulls who missed the entry a chance to enter.
The upward trendline is holding as is the breakout trend line.
We have clear indication if the uptrend line is violated with a 4hr close below $17.70.
This would negate the bullish trend and we would protect our capital by closing out.
Only a closing candle below $17.70 on the 4hr would push me bearish...not a spike tail down.
A close above $18.45 would usher in a mini stampede.
Let's hope this eventuates and silver finally gets some legs!
Silver broke out as we expected but pulled back a bit harder than expected.
Sometimes weak hands are tested by the big boys.
This gave the bulls who missed the entry a chance to enter.
The upward trendline is holding as is the breakout trend line.
We have clear indication if the uptrend line is violated with a 4hr close below $17.70.
This would negate the bullish trend and we would protect our capital by closing out.
Only a closing candle below $17.70 on the 4hr would push me bearish...not a spike tail down.
A close above $18.45 would usher in a mini stampede.
Let's hope this eventuates and silver finally gets some legs!