Harmonic trading is mainly a proper measure of price movements using Fibonnacci numbers. Harmonic patterns are formations of movement continuation. Thus, it is important that expected movement will be according to previous trend. Check most efficient harmonic patterns.
Silver looks very interesting if we look at from the perspective of harmonic trading. After silver continuously had been descending since 17th April, it eventually rebounded 9th May. The upward movement which we are observing since then took a form of simple ABCD correction. D point which should cause rebound is located at 17.40 level. The price was very close to that level today but silver wasn’t tested it yet.
