SN_Doumet
Long

SILVER (US$/OZ) - A RETEST BACK TO THE 18.50 LEVEL?

TVC:SILVER   CFDs on Silver (US$ / OZ)
Reasons to buy:
1) Inverse H&S
2) Inverted hammer on a key structure level (have to wait for Friday close to confirm that)
3) Daily Stochastic oversold

My personal details:
Long @ Entry: 16.35, SL: 15.80, TP: 18.50

For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Comment: refined view - running triangle complete?

still not exactly clear what the price wants to do
Bull divergence spotted on the shorter time frames (1-4hr). Lower lows on the chart, higher lows on the RSI that last dip.
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Your weekly stochastic indicator is showing that silver is still in a selling mode. That means that now once the triangle is complete we expect a break more towards the SOUTH towards the 15.6 support....Do you agree with me? Please let me know!
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@pmifsud, good point yes that is a possibility
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pmifsud SN_Doumet
@SN_Doumet, Seems like you were right the right shoulder is being formed and will be completed at around 17.678 as on weekly chart. Then starts the height of the head
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that chart is smiling at me
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@Prome, ahaha inverse head and shoulders always be smiling :)
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BUT ON THE 3 HR TIME FRAME IT LOOKS LIKE THAT SILVER IS IN FOR ANOTHER EVEN BIGGER PLUNGE THIS TIME TO 16.07.....I THINK CURRENTLY IT IS ONLY RETRACING MAYBE UP TILL THE 0.5 FIBONACCI LEVEL UP TO 16 .505
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@pmifsud, thank you for your comment we'll just have to wait and see
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TomPower pmifsud
@pmifsud, well it wait and see means missing out, to be honest my trading account hasn't done anything , i'm getting trading fatique with this 50/50 calls
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