In the 1st pattern, from the low until the breakout candle is 114 days followed by $11.5 increase in price. From the next low we had 151 days of consolidation until today, which I am assuming is a BO. 151 days is 1.32x longer than 114. So as a crude way to estimate the target of this move: (11.5 x 1.32) + 27.8 = $42.98 target for silver? This is almost identical to the target of the bull flag. - Probably algos will sell there.
this is just short term target
this is just short term target
Kommentera:
long wasn't initiated as another candle didnt close above the bullish candle