Silver (XAGUSD) - 6th September 2024 | @ 617 Days | + 15.54%
Last trade: + 15.54% | 'C' class signal detected in spot Silver. Running at an average wavelength of 617 days over 12 iterations since July 2005. Currently peaking.
ΣL Cycle Summary
As previously mentioned, this longer term wave in Silver has been attenuated over the last 5 years by shorter cycles and just about scrapes onto the site, mainly due to historical stationarity between 2005 to 2020, when it was exceptionally stable. Regardless of that, the latest up leg was consistent with what would would expect from this component, having turned up in the first quarter of 2024. The wave is now peaking with the next low anticipated mid 2025, more details below in the signal and targets section.
Trade Update
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous report for this instrument, linked below.
Type: Late Buy - Silver 14th March 2024
Entry: 14th March 2024 @ 24.84
Exit: 6th September 2024 @ 28.70
Gain: 15.54%