Hello good afternoon traders,
i used the tool to help me understand the retracements on this chart. After Wave 2, the Market continued to sell. Wave 2 ( a corrective structure ) is correcting Wave 1 and the shows that clearly. It bounced right on the 61.8% level, Or you can call it a ( support line ) determined by previous price action . This was an ideal time to buy. You know what they say, Buy low, Sell high. Always wait for a correction before buying. Right now, Silver is in an impulsive motion and it's going to go past the previous high and follow it's way to the top.
What do you think ?
Let me know,
this will only make sense if we count it as 1-2 then (1-2) of 3. That means that we are now in wave 1 of 3 of 3 and after a small correction for wave 2 of 3 of 3 we will shoot up in wave 3 of 3 of 3 (see chart below)