RESISTANCE CAN BECOME SUPPORT

Hello friends I am sharing the commodity silver daily chart for educational purpose for that as we can see that 63000 zones was a hazardous resistance for it and after hitting all time high of 72700 levels it looking to came down for retesting the 63000 zones as all we know that if price is trading above the previous resistance zone then that price can become support for any of security in market so we can expect a good bounce from that identified support zone and for that I am sharing my ideas below

IDEA NUMBER ONE-:
It will reach to it's support zone and give a bounce from there for the target of 68000 in this execution we will take a stop loss of a closing below that support on daily candle basis.

IDEA NUMBER TWO-:
If it will breach it's mentioned support zone and close below then we can consider as go for a short in this condition for the 60700 zones as looking a good support zone 2 for covering our shorts in this execution we will take a stop loss of closing above of support zone.

NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk

𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧

Comment:

BREAKING SUPPORT, EARLIER BOUNCED TWO TIMES FROM SUPPORT

Comment:

GOOD CAME DOWN AFTER BREAKING OF SUPPORT OF 63000 HEADING TOWARDS THE TARGET OF 60700 FOR IDEA NUMBER TWO REACHED 61500 TOADY

Trade closed: target reached:

TARGET 68000 REACHED

Comment:

MAYBE WE CAN SEE NEW HIGHS IN COMING SESSIONS