6/22/15 – Eight month trading range is forming the appearance of a reversal triangle
Silver is locked into an 8-month trading range. This trading range, like all trading ranges, is subject to morphology. Trading ranges can take on many classical chart forms during the course of development. What might appear as a possible bullish pattern one month can turn into a possibly bearish looking pattern the next month.
Critics of chart patterns use this evolutionary nature of a major chart construction as an indictment against classical charting principles. They display their naivety and lack of trading sophistication through their criticism. How a pattern forms … read more