Silver looks good. There was a strong rally yesterday.
On the daily chart, the metal is in an uptrend that has remained intact since the beginning of the year.
The news background is positive, and major players, also known as "smart money," are buying the metal.
There is a strong chance of moving higher, with the first target at 34.8.
Since the metal is highly volatile, a stop-loss should be set at 33.20.
On the daily chart, the metal is in an uptrend that has remained intact since the beginning of the year.
The news background is positive, and major players, also known as "smart money," are buying the metal.
There is a strong chance of moving higher, with the first target at 34.8.
Since the metal is highly volatile, a stop-loss should be set at 33.20.
Trade active
Now we see nice prive movement and I set the stop loss at 33.60Trade closed: stop reached
Trade closed with 0% profit/loss.Ok, let's watch and find another entry point for long.
Note
I buy once again with the stop loss at 33.50.Half of the normal position.
Note
I think it's better to close positions. With upcoming statistics, there will be high volatility. It's safer to lock in profits now and make decisions based on the data release and market reaction.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.