Silver: This Head n Shoulders Has Great Potential

Sometimes it only takes 3 minutes of analysis to come with a great trade opportunity. Looking at the daily chart of silver, it's pretty obvious that price is testing a key level where we previously had structure. Looking at the lower timeframes for a bullish setup we may see that a head and shoulders pattern is about to comlete. I am not posting the sl and tp on this one, as there are several ways how to trade the pattern.

Pending reverse head and shoulders:

Kommentera:

Price has retraced to the left shoulder level. You may buy at this point, you may buy the breakout above the correction, or you may buy after price breaks above the neckline of the pattern. I will go with second option, buying the breakout of the correction