Hello traders and welcome to another blue box post where we discuss trade setups. In this post, the spotlight will be on Silver amid the recent big break to the upside that might have taken many by surprise.
Silver surprised many market participants when it breached its 2024 highs. The commodity has been one of the strongest movers since April. While many traders were caught off guard, we weren’t. In fact, we anticipated this move weeks in advance and bought from our proprietary Blue Box zone.
In September 2022, Silver completed the bearish cycle that began in February 2021. This marked the start of a new bullish cycle. After more than 13 months of choppy price action, Silver broke out to the upside in April 2024 and hasn’t looked back since. Once it breached the previous high from February 2021, we confirmed a bullish sequence. From there, we looked to buy 3-, 7-, and 11-swing pullbacks from our proprietary Blue Box zones.
Although we had a clear trading plan, we needed to wait for the market to pull back into our Blue Box area to attract buyers. The first opportunity came in August 2024, when the 7-swing pullback from the May 2024 high ended. Our members bought, and prices rallied over 28% in the following three months, hitting our profit targets.
But that wasn’t the end of the story.
In October 2024, another pullback began on the daily chart. The first leg ended in December 2024, and the second leg concluded in March 2025. However, the third leg was a sharp and aggressive drop—almost a fiery run to the downside. This move shook many traders and investors out of the market. Panic selling ensued.
We, however, remained calm and stuck with our plan. We saw another opportunity to buy the commodity. The fast drop that scared many away gave us a new Blue Box zone, which we shared with ElliottWave-Forecast members, as the chart below shows.
On 5th April, 2025, we shared the daily chart below with members. The chart shows the blue box zone where we recommended members to buy Silver with stop slightly below the box. In addition, we discussed the setup in the live sessions and technical videos.
We anticipated a 3-swing pullback ending in the Blue Box, where price was expected to find support and resume its rally—continuing the bullish sequence that began in September 2022. What happened next? The commodity found support right in the Blue Box and rallied sharply, as the chart below shows.
Silver Bullish Setup – 06.07.2025
On June 7th, 2025, we shared the daily chart above with our members. The chart highlights how quickly the recovery unfolded. Silver rebounded strongly and breached its 2024 highs, surprising many in the market. We held onto our long position, took partial profits, and ran the remaining position at risk-free.
Since reaching the Blue Box, Silver has gained an impressive 29%, and our members have continued to book profits. Looking ahead, we still prefer to buy from the Blue Box across the 1-hour, 4-hour, and daily time frames. It will be interesting to see how the next pullback develops. In any case, based on the current price action, we do not recommend selling this metal. We remain buyers from the Blue Box.
Source: https://elliottwave-forecast.com/bluebox-wins/silver-rallies-off-april-bluebox-zone/