MCX Silver Upside Consolidation Breakout Bet
Silver is showing huge consolidation for the few years revolving around the same line making it support and resistance.
Positional Idea -
Currently, if that line is not broken on closing basis which means Silver doesn't close below that line but can establish low points there), one can buy Silver.
Intraday Idea -
Also, it is getting selling pressure in the same zone every day. The best trade for "intraday" purpose should be buying at the touch of the "CSBL line" and closing at the "Intraday Resistance" but I will recommend making that "Intraday Resistance" like trailing stop loss because it can also throw a massive breakout! (Well, we have a stop loss in the downside anyways.)
Positional Idea -
Currently, if that line is not broken on closing basis which means Silver doesn't close below that line but can establish low points there), one can buy Silver.
Intraday Idea -
Also, it is getting selling pressure in the same zone every day. The best trade for "intraday" purpose should be buying at the touch of the "CSBL line" and closing at the "Intraday Resistance" but I will recommend making that "Intraday Resistance" like trailing stop loss because it can also throw a massive breakout! (Well, we have a stop loss in the downside anyways.)
Get trades instantly and discuss them with me at my Slack Channel @ unofficed.com/chat/
Our community is full with traders who actually trade!
Telegram: t.me/unofficed
Our community is full with traders who actually trade!
Telegram: t.me/unofficed
1 39,790.00 39,929.00 +695.00 0.35%
695 INR per mini lot