Hey Traders, We are seeing some strength in the Metals and this bounce seems to be playing out exactly as planned. I think Silver
is getting ready to head towards $17.00 per ounce. I am already long (shown in previous idea below) However I may take on another short term long position if price can break out of this Ascending Triangle
formation. I will be looking for price to break out of Ascending triangle
formation followed by a pull back to retest previous resistance as support. If this occurs and we get bullish
signals on the retest of previous resistance (now support) I will be looking to enter based on my conditions and criteria for entry. If you would like to learn more about Ascending Triangles and how I plan on looking for trade opportunities, Please check out my previous idea linked below "Simples Patterns Tutorial Part 1, Ascending Triangles".
Entry- 16.80 (if price retests resistance as support after break out of Ascending Triangle
This is a short term trade. Please do not enter this trade if it does not meet your conditions and criteria for entry. Good luck Traders!!