Silver started this week with a small gap up favoured by the decline at stock market and the decreased value of USD.
Both these facts triggered by the incapability of president Trump to pass the new healthcare system.
Dollar slipped and broke the neck line of the head and shoulder formation that occured.
Uncertainty started rising about the power that president Trump has in order to pass other more important plans such as the 'Tax plan'.
TECHNICALLY
Silver just like gold,due to the strong positive correltion between them,they are trying to validate the 200MA and BC trend-line.
We can see that silver has formed a symmetric triangle ABC,that has to break,which is basically the corner of a larger triangle EFC(if you zoom out) that a longterm trend line since 2011 has created.
Closing daily above 18,06$ and keep these levels weekly it will be a good bullish indication.
Because we can use 200MA and red trend line BC as a great support.
Once 200MA is validated the first target is 18,50$ 50%Fib level and upper BBand,
second target is 19$ 61,8%Fib level plus strong resistance well respected at the past.
We can also see a rising inverse head and shoulders(BLUE AREA) with neck-line already broken upwards.
Also Macd will turn positive simoutaneously with 200MA and BC trend-line.
T1 18,50$
T2 19$
SL 17,80$-17,90$
HAPPY TRADING GUYS!
Both these facts triggered by the incapability of president Trump to pass the new healthcare system.
Dollar slipped and broke the neck line of the head and shoulder formation that occured.
Uncertainty started rising about the power that president Trump has in order to pass other more important plans such as the 'Tax plan'.
TECHNICALLY
Silver just like gold,due to the strong positive correltion between them,they are trying to validate the 200MA and BC trend-line.
We can see that silver has formed a symmetric triangle ABC,that has to break,which is basically the corner of a larger triangle EFC(if you zoom out) that a longterm trend line since 2011 has created.
Closing daily above 18,06$ and keep these levels weekly it will be a good bullish indication.
Because we can use 200MA and red trend line BC as a great support.
Once 200MA is validated the first target is 18,50$ 50%Fib level and upper BBand,
second target is 19$ 61,8%Fib level plus strong resistance well respected at the past.
We can also see a rising inverse head and shoulders(BLUE AREA) with neck-line already broken upwards.
Also Macd will turn positive simoutaneously with 200MA and BC trend-line.
T1 18,50$
T2 19$
SL 17,80$-17,90$
HAPPY TRADING GUYS!
Trade active
Comment:
If i see a nice pullback at the trend line i am ready to load until 19$ level.
Trade closed: target reached:
First target achieved!!!let's continue for second target.
Trade closed: stop reached:
Typical example why you MUST NOT BE GREEDY AND NEVER TRADE WITHOUT STOP LOSS!In this trade you must take your profits from target one and move your stop loss at least at break even..If you hadn't done this you MUST NOT MOVE YOUR STO LOSS..EMBRACE YOUR LOSSES AND BECOME BETTER TRADER!
