Silver long - starting soon

TVC:SILVER   CFDs on Silver (US$ / OZ)
113 10 4
I expect the Silver             to go down to light blue line - entry point 1 - or the red entry point 2
Meaning - long at around 17.500 - 17.600 -
TP >17.900
Comment: When we get to first TP - I will see and update - it could well go above 19.900
Comment: Trade active
Comment: Still in correction - so this could be an opportunity to enter the trade.
Watch out - if it breaks the red bottom line - then we could be in for a bearish impulse instead.
Comment: Getting to first TP
It has tested it - but still not broken it. Believe it will do.

Comment: It have been following the setup quite nicely. Looking at different indicators, we could be in for another correction wave, before we see the breakout impulse wave. I am selling my position close to the red line - and then wait for the correction before a new long setup.
Comment: Then it look like this:
Comment: Really nice breakout.
Hope a lot of you are having your long positions and gaining a lot from this.
Correction was not as strong - but what an impulse.
Trade closed: target reached
On what information do you base your idea about silver?
lynersen jostitrade
I see it from the trading/channel pattern
Try see it from the wider perspective:

jostitrade lynersen
@lynersen, oke, so its all technical. I was wondering if you also look at the fundamental information and worldwide economic influences.
lynersen jostitrade
I did for a long time ago - and traded based on news of everything, but that was not solid at all.
News will make short corrections, due to these "news traders". But trading machines and fonds will not trade based on news - only by analyze and see the technical side.
For instance - oil today, made corrections for about 30 minutes, due to some news - then went back where it should.
jostitrade lynersen
@lynersen, ah oke thanks. I just saw this video with Craig Hemke who also said its all high volume computer-emotionless-trading.
I really look forward to your comment what is happening to the price at the moment.
lynersen jostitrade
@jostitrade, I see it as a regurlar correction. Looking at the past - Silver does this a lot. Both bullish and bearish - which makes it interesting to trade.
If you look at this chart - you will see there is corrections all over the line.

From now - I believe it will go a little more down, before it will make correction (sideways) for a while - and then decide to go bullish again.
lynersen jostitrade
And with 2 hours chart - it will look like this.
Looking at MACD - I assume it will follow the green lines.
jostitrade lynersen
@lynersen, Thank you for your insights. Looking forward to a big jump in price, but it feels like this will only happen in 2 scenario's: in 4 or 5 years silver will be a super rare metal and is needed for the production industry or a big economic collapse.
lynersen jostitrade
@jostitrade, you are very welcome.
Well - even the smaller jumps up and down, can be very beneficial to trade ;) There could be up to 3.000 pips to make on a good trade like that.
I would look for a new long position when price get below 16.500. It could go all the way to 15.800 - but most likely just stay above 16.000
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