Whooph has been trading Silver swings since she began showing Price Indicator disagreement displaying weakness. Or spats as it were, between the precious industrial metal’s Price and MACD.
A mark-up of Silver’s 4-Hourly and Hourly charts reveal what she’s doing and where she is in the structure of her pull-back. Essentially, a market’s map.
Price v. MACD in the 4-Hourly Chart reveals where she is: Wave 4 of 5
Price v. MACD in the Hourly chart reveals “how she’s doing” as Price meanders flat or sideways while MACD exerts to a higher high. Weak or Flat Price action while an Indicator puts in an extreme high is a form of disagreement which we call Reverse Divergence, which in this case is bearish.
Silver Traders should be cautious on the call for Wave 5 (lower). Signals are a bit muddy. This could just be a messy abc Turn following Corrective Wave C. If that’s the case we could grab a leg up from here.