Trust Amplify Junior Silver Miners ETF – SILJ Elliott Wave technical analysis [Video]

Trust Amplify Junior Silver Miners ETF – SILJ (one-day) Elliott Wave technical analysis

Daily chart

Function: Major Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave [iii] Navy.

Direction: Rally.

Details:

• Wave 3 is close to entering the most powerful part of the impulse: the third of a third of a third wave.

• This move will follow after the completion of the current wave (ii) retracement. A final three-wave correction to the downside is expected to finish wave (ii).

• Once wave (ii) ends, a strong rally surpassing the $15.17 high should begin.
  Invalidation Level: $11.57

Trust Amplify Junior Silver Miners ETF – SILJ (four-hour) Elliott Wave technical analysis

Hourly chart

Function: Major Trend (Minor Degree, Grey).

Mode: Motive.

Structure: Impulse.

Position: Wave (iii) of [iii].

Direction: Uptrend.

Details:

• SILJ has now entered the most anticipated stage of the rally.

• The current move is expected to be strong and nearly vertical in behavior.

• Wave (iii) should easily surpass the $14.50 high and continue moving higher.

• Entry points and stop-loss levels are provided on the chart.

• Invalidation level: $11.58.

Conclusion

The Elliott Wave analysis summary for SILJ is:

• SILJ continues its rally and the uptrend is now mature.

• This point is crucial for traders aiming to move with the trend, not against it.

• The $11.58 level remains the key invalidation point for the bullish scenario.

• Following Elliott Wave principles and monitoring invalidation levels are essential steps to manage trading risks effectively.

Trust Amplify Junior Silver Miners ETF – SILJ Elliott Wave technical analysis [Video]