#XAGUSD Elliott Wave Analysis
We said silver was about to give us a gift. The invalidation was 83.05.
#XAGUSD 🥈
We said silver was about to give us a gift. The invalidation was 83.05.
Silver is now at $72.67. That's already 1000 pips down from the high.
And the move is not over.
The chart shows exactly what we mapped out in our previous analysis. The WXY correction has broken down aggressively, with Wave C now extending toward the lower target zone. The blue arrow on the chart points to where this decline is headed.
This is why we don't chase pumps. This is why we wait for structure to confirm.
While amateur traders were buying the "breakout" above 80, we were warning our premium members about the invalidation level at 83.05. The market respected it perfectly, and now we're watching the planned correction unfold.
The downtrend is clean. The wave structure is solid. The next support zone sits much lower.
We update this analysis daily before London session opens for our premium members. Plan the trade, trade the plan.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Elliott Wave analysis involves subjective interpretation. Always do your own research and manage your risk accordingly.
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