( trade in progress) week46 Shorting Silver on multiple time frame bearish trend

This short is based on the premise that a bearish downtrend has been aligned on multiple timeframe.

w1

Year to year, Silver is on a downtrend with consecutive new 52weeks low being formed every week.
Price is now on the verge of breaking previous year low, and also previous 2 months low. Breaking of this support confluence will open a huge amount of space below for movement.

The important concept here is space, in which traders may find trades with more moveability when key supports are smashed and move into space where no further support can be found.

week46 Silver w1 downtrend 171115

h4

on h4, the week to week downtrend is clear, after a previous round of 2months bearish consolidation.
Price is also showing a clear bearish trend on the day to day basis.

Any short now will be great, but I am also prepared to short more if there is a retracement.

week46 silver h4 downtrend short 171115

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