Currently on the Daily Chart of Silver Futures we are setting up for a False Bar Stochastic Buy. I drew the Regression Trend Channels in from the top of the trend on 4/25 to the current retracement low today. If we can get a break of these channels and the market stays above the 61.8% level we could see a rally.
It's important to note that if we do break that 61.8% level, the XTL indicator would take over on this trade and we could potentially short Silver. This is one of these unique occasions in technical analysis where you are on the verge of being able to trigger trades in the opposite direction.
I'll continue to monitor this trade on the blog and if we get a trigger will post the profit taking levels based on my Gann Analysis.
Ron Wheeler
eSignal Learning
Nice to see a post after silence for several months. Its a real shame the blog is updated so infrequently (a post every 2 months!!!). It was one of the reasons for buying AGET that you saw in real time what traders did with the software & a chance to further enhance your skills.
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Regards,
Silver Updates
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