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Weeell, I don't exactly count them. I only care about waves when I see an entire elliott wave sequence ending, and to show me where the corrections and sidewave moving markets are going to be. I don't go "this is wave 1 of 3 of a of 5." That doesn't work, at least not for me. I stay with the overall trend and buy and sell based on fractals and divergent bars. That means I will always trade with the direction of the overall elliott wave sequence, whether it's a 5-wave move or 3-wave move, and never go against it until I see it ending in the indicator which you see at the bottom of my charts. It tells me what wave we are in, but as I said, it really is only important at certain times of a sequence.
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Not so miserable after all. On my chart it didn't close as a div bar, pinbar, hanging man or whatever you want to call it. After being down a little today we're already back at the pricelevel of yesterday's close. However, I believe we might see a retrace pretty soon. I hope not too far down so the uptrend stays intact for moves higher than what we're seeing now.
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Still I had a great time shorting during euro-session Now flat, deciding whether or not to enter short again. The reason I'm doubting is that price broke out of a flag on the lower timeframes.
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2 great shorts today, but had to close the third break even as silver didn't want to go down that time.
I'm still thinking shorts, but the chart does look a lot more bullish after today.
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I haven't touched silver or gold in a few days - I'm waiting for better levels to either buy or sell.
I am having fun shorting spikes in natural gas today though
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heheh, good for you. It looks as if silver doesn't want to go down too much. I think my stop at 15,9 won't be hit before trend resumes upwards.. let's wait and see
are you only doing intraday?
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I am still long, yes. My current stop is just above BE. I keep it far away from the current price to avoid being kicked out by some intraday retracement. For now, I will keep it at where it is to protect my position. The actual exit, however, will occur as soon as price closes below the green MA line.
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I'm almost always exiting end of day. I did short gbp/usd last Thursday for a swing trade (still in) but now I feel more like an investor than a trader
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Yep that's true. Takes quite some time before you have a go at something if you do it end of day. Anyway, profits are much greater, and stress is much lower that's what I like about it. Everyone likes it different as we know ...
Have fun on whatever you might be trading =)
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Resistance level and Support level
current price Silver = 15.94
Resistance Levels
resistance level 1= 16.03
resistance level 2= 16.07
resistance level 3= 16.11
Support Levels
support level 1= 15.90
support level 2= 15.86
support level 3= 15.82