Following The Path: Gold and Silver π
Date: 19/01 As discussed in our previous 2 posts Gold and Silver both have maintained their bullish bias. On the 14th we discussed that our buy zone for silver was between 85 - 87 levels (with a SL of 74.549) and today silver made a high of 94+. Thats a 9% jump from our buy zone! Similarly on the 16th our update on gold discussed that gold too was ready to continue its upward trajectory and all longs can be built with a stop loss of 4500. Gold made a low of 4536 and has now made a high of 4690 (our target was 4700 which it will still get to). Thats a 3.5% jump towards our level and already a a 4:1 return if you managed to buy the dip as discussed. All these levels could've just been entered into your trading terminal on the day we discussed and all would be running with substantial profits by this time. This is what makes Elliot wave positional trading my favourite way to trade. No need to spend hours on the screen stressing and waiting. Just put the numbers in, sit back and relax.