SL@ 16.45 (-50), TP@ 14.45 (+150)
- as most people are very about silver and gold right now and most media (tv, newspaper, online) are writting about how good of investment it would be, I believe more realistic chance is on the downside
- short position opened today in the morning at 15.95 $
- there is a possibility of a (with Oct'2015 highs) and a strong divergence on (not in chart)
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As Silver is one of the most volatile investments bigger bounces back are always possible, BUT the bigger trend is now likely down and i would not close my short but use bigger bounces back (like till 15.70) to open a short, when not in trade already and set a SL at about 16.20 with the same target so at 14.45. I think that as long as gold did not fall at least till 1.1160$ (50%-FibRetracement) or even 1.140$, there is no need to close a short in silver. EURUSD should fall in those 2-4 weeks to 1,0867-1,0820... everything is just my opinion and no recommendation to take any trade based on my ideas