Vachus
Long

Sliver Bears trap ....

FX:XAGUSD   Silver / U.S. Dollar
243 views
3
Lets examine the selling behavior over the last six weeks. At number 1 & 2 bears were in total control pushing down price as they can and protecting their tops. But at number 3, while price was scheduled to plunge throw 20.50 level - it stopped. Then, with that price failure the top of number 2 was taken twice at number 4&5. IMHO the area between 20.50 & 20.00 , and 20.00 towards 18.00 is a bears trap.

So here is my trade plan for that pair:

1- Long Sliver, 20.6X Stop 19.90 target 26.00 ( Risk Reward : 1:7)
2-Long Sliver 18.50 Stops 17.50 Target 26.00 , 28.00 (Risk Reward 1:8.5)

I wish myself a Good Luck

Comments

Stopped out on the first trade ...
Reply
Its not looking good so far .... :(
Reply
Agree with you.
Reply
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