LONG Silver – seasonal strenght and charts are lining up nicely
Trading idea on 1h chart:
LONG Silver – BREAKOUT-Trading (seasonality and good chart setup)
________
Trading setup: stop buy @15.05 , Risk-Reward = 3.91
SL@ 14.4 (-55), TP@ 17.20 (+215)
***Positon = 300
________
Silver:
- very strong seasonal strenght in August and in September in Gold and Silver in the past
- weak US-job data in the recent past (rate hike might come in 2015 much later as expected, if at all)
- impulsive silver buying on last 3 Fridays on high volume (buying interest coming into market)
- several test of resistance at 15.00 on 4h chart
- breakout above 15.05 would be a buy signal for me
A safer buy would be a corrective retest of the breakout level, but I will go just with the breakout.
__________________
*** I will start to track my ideas in the paper trading account provided by tradingview.
The account size was set to 10,000 at the start (10. August 2015) and the position size will be adjusted so, that my next stop-loss will be approximately 2% of the current portfolio size in USD (if not stated differently).
Current Account Size = 10.000 USD
__________________
Disclaimer: There is a very high degree of risk involved in trading forex, trading on margin and trading at all. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
LONG Silver – BREAKOUT-Trading (seasonality and good chart setup)
________
Trading setup: stop buy @15.05 , Risk-Reward = 3.91
SL@ 14.4 (-55), TP@ 17.20 (+215)
***Positon = 300
________
Silver:
- very strong seasonal strenght in August and in September in Gold and Silver in the past
- weak US-job data in the recent past (rate hike might come in 2015 much later as expected, if at all)
- impulsive silver buying on last 3 Fridays on high volume (buying interest coming into market)
- several test of resistance at 15.00 on 4h chart
- breakout above 15.05 would be a buy signal for me
A safer buy would be a corrective retest of the breakout level, but I will go just with the breakout.
__________________
*** I will start to track my ideas in the paper trading account provided by tradingview.
The account size was set to 10,000 at the start (10. August 2015) and the position size will be adjusted so, that my next stop-loss will be approximately 2% of the current portfolio size in USD (if not stated differently).
Current Account Size = 10.000 USD
__________________
Disclaimer: There is a very high degree of risk involved in trading forex, trading on margin and trading at all. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
