Silver Intraday Crash Review

 

 

One thing we have to keep in mind is that after a crash depending on what degree we are working, will always end up going higher from where the crash originated from.  This forms the higher highs which many would classify as a bull market.  If silver will stop on a dime is never an exact sure thing. Seeing this as a potential corrective crash, then silver should eventually soar with another leg up. The next target would be a wave 3 in Minor degree, containing 5 waves in Minute degree.

This is also when the markets can extend to such an extent, that it is hard to imagine what some unseen smaller degree levels can do. In this specific wave count I could have up to 5 degree levels that might come out of hiding below Minute degree.  Just because something has soared tall does not mean it is in a higher degree.  Breaking the sequential chain is the worst thing we can do with the EWP, as it is just like a DNA string that can’t be resequenced.  I call it a DNA string, but in reality it is more like a Fibonacci string, that has to stay in sequence.

Move just one wave position and we have broken the string, so the entire sequence has to be recounted and checked again.

I’m still bullish in the long term and expect this decline to reverse sooner than later.

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