Silver - Long the Bear Trap, Dump the Bull Trap
(Trade this on 1Broker in my signature link for no-fees BTC-settled markets with social trading)
Silver's price action last week was quite interesting, with a wick above the May high followed by a close slightly under.
To me, this says the market is very likely to move above this area, but first, I expect a solid pullback for market open as weaker hands sell off thinking Friday/Saturday action was a failed breakout.
However, the 17.10-17.30 range is a major area on the weekly and whether or not it breaks through or upwards of that is up to question.
Either way, I like this trade's risk/reward when able to long a pullback.
Long a pullback to $16.68~
Target: $17.10
Stop: $16.48
Risk/Reward 2.1
Will be a public trade on 1Broker when active. You can "copy" me on the platform as well.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
Silver's price action last week was quite interesting, with a wick above the May high followed by a close slightly under.
To me, this says the market is very likely to move above this area, but first, I expect a solid pullback for market open as weaker hands sell off thinking Friday/Saturday action was a failed breakout.
However, the 17.10-17.30 range is a major area on the weekly and whether or not it breaks through or upwards of that is up to question.
Either way, I like this trade's risk/reward when able to long a pullback.
Long a pullback to $16.68~
Target: $17.10
Stop: $16.48
Risk/Reward 2.1
Will be a public trade on 1Broker when active. You can "copy" me on the platform as well.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
הערה
This never did dump to where I hoped it did on open, so I've traded it in reverse entering short at 17.10. Pray 4 me. Perhaps the knife and spoon collectors were right all along.
הערה
I scalped this for ~9% gains shortly after. Earlier than I wanted to, indeed, but it was always intended as a short-term day trade. Silver is impressively strong right now.
הערה
Was right originally that silver upmove was going to be a bull trap. Children, Lesson #5:
"Don't second guess yourself"
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.