#DoubleTop

#Silver has formed double top pattern on weekly scale. Breakdown below neckline 62230 can lead a downfall upto copybook target of 51500 which is next demand zone.

Comment:

#Disclaimer: All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

Comment:

View intact. Not carrying any shorts in precious metals. But will wait for 51000 levels for fresh #Long entry for investment purpose.

Comment:

TradePlan Update:
🔴 Silver USD is trading below 38.2% retracement of the rally from 11.63-29.98
🔴 Breakdown below nearest neckline of 22.40 it can go down to 18.69 (61.80 FibR)

🟢 As as investor will wait for those levels to accumulate in trences for #Long term.
🟢 One may add few near 50% Fib-R i.e. 20.867 and add rest on 61.8 i.e. 18.68

If levels dont come and I miss the bus then also it doesn't matter.