Silver 'Golden Trade" for 2017, V.good R:R ratio
I was waiting the Last week FED meeting to see any Major changes in my view or to confirm my trading Idea. Technically speaking , all explained on the chart, Fundamentally, Interest rate game is between Mr. Trump is enough to spread uncertainty for the biggest economy .
I will keep updating
I will keep updating
Comment:
As I expected , the Volume was the missing factor last week, and when it came at the end of last week , we broke the important 17.80 . now the main and the last challenge will be 18.52 IT IS THE DOOR FOR HEAVEN. My preferred Scenario is to touch/fake break it this week and close under it. next week ( the first week of April , we will go back to retest around 17.80/90 and maybe only to 18.05 before Rocket up breaking 18.52 again and target 19.55 first. I will attach my updated chart later today
Comment:
New Math-logic Equation: NFP down to 98K+ US military OFFICIALLY involved in Syria conflict = BUY SILVER PEOPLE
Silver closed last week above 18.20 , and retested earlier this week 18.07, and he is not in overbought area at stochastic indicators. Bulls vs Bears indicators showing Bulls are taking control, volume is increasing and giving hints that traders will not end this "last week full of economic and political data FRIDAY" ends before the new Silver trend is clear enough. Pending orders to buy at 18.55 with S/L:18.05 TP1:19.70 ,TP2: 20.45 then we are targeting 27$
Silver closed last week above 18.20 , and retested earlier this week 18.07, and he is not in overbought area at stochastic indicators. Bulls vs Bears indicators showing Bulls are taking control, volume is increasing and giving hints that traders will not end this "last week full of economic and political data FRIDAY" ends before the new Silver trend is clear enough. Pending orders to buy at 18.55 with S/L:18.05 TP1:19.70 ,TP2: 20.45 then we are targeting 27$
Comment:
After I been stopped out twice at 18.05 and 17.20 last April. I stand aside to identify the lack of volume and why it took silver another turn side ways for couple of months. Bitcoin , European and US indices were rocketing up and the volume was
heading their to the stocks and higher risk financial products, and that made me more confused about the real reason why the silver and gold are not moving yet.
Technically the DOLLAR INDEX was the answer, The interest rate "hold or raise" does not matter anymore. US Dollar index is officially down, the downside acceleration will maximize in the last quarter of this year. Silver technically is ready to accept more volume and the equities will go their. Again I will ride this wave up from 17.40 my hedge position this time will be at 16.85, for the same targets 18.40 first 20.45 then and 27 later.
heading their to the stocks and higher risk financial products, and that made me more confused about the real reason why the silver and gold are not moving yet.
Technically the DOLLAR INDEX was the answer, The interest rate "hold or raise" does not matter anymore. US Dollar index is officially down, the downside acceleration will maximize in the last quarter of this year. Silver technically is ready to accept more volume and the equities will go their. Again I will ride this wave up from 17.40 my hedge position this time will be at 16.85, for the same targets 18.40 first 20.45 then and 27 later.
We need to focus too on BREXIT plane the coming EUR vs TURKEY "growing" political
conflict.
What we need to see now is VOLUME on our suggested trade and I expect it to come before this week end.