Trying some volume profile combined with something that looks like Gartley pattern (with some error). By doing so it looks quite bearish at the moment.
It could also rise further up to the 0.886 fib level where we find another volum level. If so, it it will complete leg 4 of a big triangle pattern.
50MA and 200MA are also beeing crossed at the moment. Possible critical moment of either ways.
Both ways it might go all the way down to the 0,5 / 0,618 fib levels. The volume profile confirms this.
It could also rise further up to the 0.886 fib level where we find another volum level. If so, it it will complete leg 4 of a big triangle pattern.
50MA and 200MA are also beeing crossed at the moment. Possible critical moment of either ways.
Both ways it might go all the way down to the 0,5 / 0,618 fib levels. The volume profile confirms this.
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Some Parallel lines including Fib channel:
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Leg iv completed? Leg v next up?
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And finally, my favorite - Gann. Look how the arcs matches the i-ii-iii-iv legs(!).
Leg v next?
Leg v next?
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Another powerful technique is divergence. This is how I use it:
After a Divergence has occured I look for possible trend lines that might be the trigger to do a entry. When the trend line is broken I do the entry straight away. It is very often testing the entry level, and therefore a suitable stop loss is necessary.
Moving Average could also be combined with the Divergence Technique - That gives very good results as well.
I've drawn the divergence technique on Silver below:
After a Divergence has occured I look for possible trend lines that might be the trigger to do a entry. When the trend line is broken I do the entry straight away. It is very often testing the entry level, and therefore a suitable stop loss is necessary.
Moving Average could also be combined with the Divergence Technique - That gives very good results as well.
I've drawn the divergence technique on Silver below: