iShares Silver Trust (SLV)

[JLS]

Why last SLV trade didn't work __

How many times after a meaningful upward trend does price enter the blue consolidation zone from the bottom then consolidate for a while then break back out through the bottom of the blue zone, thus starting a meaningful trade? Never. What about late July? That wasn't consolidation -- it was a reversal back out of the bottom of the blue zone followed my an immediate reversal to go back into the blue zone then consolidate near the top of the blue zone followed by breaking out of the top of the blue zone for a meaningful trade up to the red line.

Where are the easiest trades entered? Trend reversals after tagging the red or green lines. Hey, it's a triangle! And the blue range is a swamp. On rare occasions there are islands in the swamp and you can skip right through.

The most likely direction of breakout from the blue zone is out the top. But the red line isn't far away.