$Silver dumped 5.6% today, now testing the bottom of the parallel. Setup still looks clean, probabilities favor a bounce here.
Looking at longs around the parallel base + $59.62 zone. Decent entry.
BUT — still see 40-50% chance we make a new low and finally tag that $54 level I've been calling for months.
If you're long here, be ready to:
- Sit through a dip to $54 if it happens
- Take profit fast on any bounce
- Ladder in lower if we keep bleeding
OR — this $59-61 zone could be the low. We'll see.
I'm wrong plenty. This is probabilities, not guarantees. $54 is 40-50%, not a lock.
Looking at longs around the parallel base + $59.62 zone. Decent entry.
BUT — still see 40-50% chance we make a new low and finally tag that $54 level I've been calling for months.
If you're long here, be ready to:
- Sit through a dip to $54 if it happens
- Take profit fast on any bounce
- Ladder in lower if we keep bleeding
OR — this $59-61 zone could be the low. We'll see.
I'm wrong plenty. This is probabilities, not guarantees. $54 is 40-50%, not a lock.
