bagofXMR

Mid term long silver

Long
bagofXMR Updated   
TVC:SILVER   CFDs on Silver (US$ / OZ)
This is my first non crypto idea. I've read/heard commodities are the most similar to crypto to trade, so i'm going into them. I'm opening quite a big position in here for my standars thanks to leverage.

Here are my technichals to support this long setup.

  • Three weeks downwards tend broken
  • Daily RSI and MACD bull divergence
  • Bottomed at +1year three points ascending trendline
  • Weekly candle suggesting bottom and trend reversal (see chart below)
  • Daily MACD bullish cross inminent


Entry: 16.439 (or monday weekly open)
Target: 17.822
Stop-loss: 15.653
Leverage: x5
Comment:
Some more supports for a long setup:
200 monthly EMA
150,75 Weekly MA cross
Comment:
MACD crossed bullish.
Also 8, 13 MA bullish cross.
Comment:
Silver keeps a slow scalation to our target. No way near of the crypto thrill, but you can sleep at nights lol
Stops will be filled, market won't collapse 30% over night... after over a year trading crypto this feels like a pretty calmed market.
Comment:
Moved my SL up to 16.9

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