Sitrade
Short

Silver dropping below significant support level

FX:XAGUSD   Silver / U.S. Dollar
122 1 3
Been a while since i've put a trade idea in..

I've had a sell order for Silver             in place at 18.00 waiting for a while now.

As the chart shows.. Price has rebounded above the green Support line multiple times since the middle of 2013 giving rise to a stronger and stronger level of support. A few days ago this support level has been broken. Without a significant retest of this support, price is now continuing to slide lower.

I will use a price level slightly above the support level at 1.463 as my stop loss to account for a possible retest of support but I remain short on Silver             .

Profit target will be around the $14 mark at which point I will bring my stop loss to lock in any profit and will let it run, however given a cross over of the RSI i may take any profits I have and wait for a retest/re-entry opportunity

Lets see what happens...

Will be falling further.... have a look at my 2 month old chart.... and update of an 8 month old chart :) Spot on so fare!
Safe trading
@BLawrenceM
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out