Silver fell out of a rising Andrews fork and it is now resistance. I have drawn an unproven downward pitchfork. Excellent Risk :Reward ratio 20:1 Stop 16.80 Entry 16.70 Take profit 16.07 Time target : about 48 hours
Trade active
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I did not notice that B point of above Andrews fork is not in place. The correct fork is below. Target is similar in price and time. Stop loss should be moved to break even for a risk free trade
Comment
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Note the inaccurate fork was one hour time frame and represented the descending part of price seen in the blue portion of the descending fork above
This trade is moving very slowly, but today we have another low risk entry point short, with stop around 16.72 Entry now 16.69 and take profit around 16.34
I have adjusted the A point of the Andrews fork
a1Keith
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@a1Keith, As soon as I posted the above The superior line of the pitchfork was breached and it is now support at 16.70 . I would close the trade if short. Profit =0
I have adjusted the A point of the Andrews fork