nahidik
Long

Silver A little more down and then the start of a large move up.

FX:XAGUSD   Silver/U.S. Dollar
I believe we are near the end of the downward move. Perhaps another small move down to the trend line . If we have already bottomed look for a break of the smaller green trend line up and a correction and a move up. This will confirm we are in an uptrend again.
Watch the DXY             a strong move up will have consequences on this commodity pair.

This is only a suggestion of a possible. It is not a suggestion of a trade you should take. Educate yourself create a plan and use others ideas to confirm you own ideas.

I welcome your thoughts comments and suggestions.

What you know teach, what you don't learn.
Trade active: Ok I am in the trade. Use your trade plan and if it agrees maybe you are too. Good luck if you are.
Comment: Going quicker than planned. I had expected a retracement by now. I am taking some profit with the idea of re-entering after a pull back. I will also move my stop to break even.
Comment: I am looking for a bit more pullback before an up move. There is a strong area of support around the .50 fib which may be a place to take another long position. If we get a simple AB=CD then the price towers would come into play. A deeper pullback could come into play but the RR is not there for me to short this right now. I would look for penetration into the support and bull signs to go long.
Beware this week could bring out more than the standard allotment of crazies with Brexit on every bodies breath. Keep your friends close and your stops closer this week.
snapshot


Every time I meet a person who is full of themselves I say to myself "Man I am so much better than them"
Trade closed: target reached: A little help from Brexit to expedite matters. I will look at this pair again next week when things shake out.
Thanks for your likes. Please feel free to post comments and ask questions.
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