Following my previous analysis (private) I was waiting for 2 scenarios to occur. After about 4 weeks silver has moved to my preferred area to trade.
Silver is still in a downtrend channel on daily chart.
On H4 it's reached an area showing strong resistance.
Orders @17.12
SL 17.455
T1 16.27
T2 15.78
On H4 it's reached an area showing strong resistance.
Orders @17.12
SL 17.455
T1 16.27
T2 15.78
Trade active:
Failed to make a new high as entry target hit.
Good luck
Good luck
Comment:
Currently @17.127
Massive reversal. If it makes a new high, I will exit the trade, it it doesn't I'll let it keep running.
Massive reversal. If it makes a new high, I will exit the trade, it it doesn't I'll let it keep running.
Trade closed: stop reached:
Unfortunately hit stop loss.
What looked like a clear winner ended being a loss.
Fortunately with good risk management the loss isn't that big.
This trade is over. On to next opportunity
What looked like a clear winner ended being a loss.
Fortunately with good risk management the loss isn't that big.
This trade is over. On to next opportunity
Going well so far