Analyzing Silver's Price Action: Educational Trade Idea
Short Bias Setup:
Entry: Wait for the price to retest the descending trendline (~$31.50) and fail to break above it.
Target: $30.00 (initial), followed by $28.50 if momentum persists.
Stop Loss: Above $32.00 to protect against a trendline breakout.
Alternative Long Opportunity:
Entry: A confirmed breakout above the trendline with high volume (~$32.20).
Target: $33.50 (resistance level) and beyond if the trend reverses.
Stop Loss: Below $31.00 to minimize risk.
Entry: Wait for the price to retest the descending trendline (~$31.50) and fail to break above it.
Target: $30.00 (initial), followed by $28.50 if momentum persists.
Stop Loss: Above $32.00 to protect against a trendline breakout.
Alternative Long Opportunity:
Entry: A confirmed breakout above the trendline with high volume (~$32.20).
Target: $33.50 (resistance level) and beyond if the trend reverses.
Stop Loss: Below $31.00 to minimize risk.
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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.