Tradingstrategyguides
Long

WATCH FOR THE SILVER LINING IN THE CHNA-US TRADE WAR

FX:XAUUSD   Gold Spot / U.S. Dollar
CNN Business - The World is on a brink of a Trade War
US impose tariffs on $50 Billion worth of Chinese Exports
Chinese quickly outlined new import taxes on US Products worth $3 Billion

Result is a drop in the Dollar Index
Benefit of this is when Dollar drops precious metal pop

Gold broke bullish out of descending wedge but too late to enter
Silver has given us a candle close above this descending channel with increased volume
Traders were bored with this descending channel chart pattern with decreasing volume bars
Decreased ATR from smaller sized candle bars dropped volatility
Trade War news brought bullish momentum to have a breakout candle close above channel trendline

XAGUSD BUY STOP @ 14.77
Enter two orders
Both SL at 1.5xATR
1st Trade TP 1xATR
2nd Trade no TP
When 1st trade hits its TP move 2nd trades SL to breakeven
Follow Price on 2nd trade with SL to let profits run
Comment: Added Buy Limit @ 14.50 to Silver
Comment: Silver is on the move up
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out