Technician
Short

Silver: Short with the Trend

FX:XAGUSD   Silver/U.S. Dollar
1653 8 17
Looks a bit scary, due to the strong bounce, but worth             a try. The price is retesting the high of a major pin bar and horizontal resistance level , within the context of a major bearish wave, we might see a new dip lower.

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Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
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I was watching that "pin bar" happen in real time and I can tell you that it happened in less than 1/10th of a second. It was a FLASH and then it was gone - whoever it was buying and selling it all happened so fast that if you blinked you missed it; literally.
+1 Reply
2use nmreich1
So whats your opinion on Silver?
Reply
thank you technician
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thanks man! I'm wondering if we have a similar story with the oil, or the oil will take a different move? In the 4h chart (oil), is that an ascending triangle we can see there?
Reply
May I know is this trade still effective for you because I see almost If 90 percent of first target is reached without triggering entry? Thanks.
Reply
Technician TOP VelsonChew
No i am done with this trade,
Reply
Technician TOP VelsonChew
Actually, I have a guts feeling that it will rally now
Reply
Lus87 Technician
Trade canncelled or always good?
Reply
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