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.
================================================================== 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
Comments
nmreich1
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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.
A-shot
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So whats your opinion on Silver?
VelsonChew
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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.
Technician
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No i am done with this trade,
Technician
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Actually, I have a guts feeling that it will rally now
Lus87
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Trade canncelled or always good?
adamvok
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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?