Ranothil

Short, then long SILVER

Short
FX_IDC:XAGUSD   Silver / U.S. Dollar
170 views
10
stops for shorts 17.249 stops for longs 14.30
Trade active: Short; put stop 14.50. The risk is very small, but reward is quite high, it will drop to low 15's unless it breaks 17.50.
Comment: i meant put stop 17.50
Comment: Not a bad rejection candle; I'm liking the way things look. I expect price within this week to retest the 17.25 level; .500 fib + resistance confluence, but it may also fall from here. If it does retest, I would recommend add a bit to short if you haven't already overleveraged :D. Risk is small the higher it gets. If it breaks down, move will be swift, swifter if it retests once or twice the 17.20s and 17.30s. Good luck!
Comment: Two routes to the breakdown:
https://www.tradingview.com/chart/sssWF4...
Comment: ok here's what i meant:

https://s3.amazonaws.com/tradingview/sna...
Comment: Price is very close to breaking out of the ascending channel. Let's see if it does as predicted from the last update.

https://s3.amazonaws.com/tradingview/sna...

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