We have a nice chance to enter longs in $PAAS here, if we break above Friday's high, we'll have a chance to retest the resistance above, as the arrow indicates. Risk is a new low, so the stop is really tight.
$PAAS has some of the biggest mines, and low operating costs, although still not profitable, so, it's not suitable for longer term investment unless you size it below 5% of your account. Here, the tight stop is ideal for a swing trade, but not for long term trades, and since I think it's likely to have sideways price action in metals, for some time, this is the type of trade I'd like to take in the sector.
Good luck,
Ivan Labrie.
$PAAS has some of the biggest mines, and low operating costs, although still not profitable, so, it's not suitable for longer term investment unless you size it below 5% of your account. Here, the tight stop is ideal for a swing trade, but not for long term trades, and since I think it's likely to have sideways price action in metals, for some time, this is the type of trade I'd like to take in the sector.
Good luck,
Ivan Labrie.
Trade active:
I accidentally market bought at 15.44 when placing my trade entry, oh well.
Trade is now valid.
Trade is now valid.
Comment:
I'll watch how it evolves here, we could hold this for some more if XAGUSD keeps going.
Comment:
I'll book this one at the open today, or just trail stops up.
