Hi traders,
Silver has been giving us bearish signs lately. Its movements (bearish wicks) are showing us selling pressure up above. Mix this with what it now looks like a downtrend channel.. and we have a potential bearish run ahead of us. DXY just can't seem to really fall at the moment which is not a positive outlook for silver. As we all know, commodities like to follow each others movement. Gold is also doing the same thing as silver. This brings us to believe that we might see silver going down yet again.
Here's what I'm thinking :
XAGUSD SHORT
ENTRY : 17.112
SL : 17.297
TP : 15.86
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Silver has been giving us bearish signs lately. Its movements (bearish wicks) are showing us selling pressure up above. Mix this with what it now looks like a downtrend channel.. and we have a potential bearish run ahead of us. DXY just can't seem to really fall at the moment which is not a positive outlook for silver. As we all know, commodities like to follow each others movement. Gold is also doing the same thing as silver. This brings us to believe that we might see silver going down yet again.
Here's what I'm thinking :
XAGUSD SHORT
ENTRY : 17.112
SL : 17.297
TP : 15.86
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Trade closed manually:
Closed before price went again above 17.00
A few pips banked!
A few pips banked!