SI1! trade ideas
SI1!, XAGUSD, SILVERVery Strong Upmove candle .... need to break the Trendline and 25.475 Levels for confirmation
Triangle breakout and A Flag Pole pattern can also be considered.
Structurally Silver is still making a higher low which is bullish.
Previously I was expecting low of 22.140 to break which didn't happen
Only -ve is Dollar Index Break out wait till confirmation on Silver Charts
Expecting 30$ targets if Confirmation comes
Silver Gap Fill Trader: R is 1: 2
Rest as per Charts
Note -
One of the best forms of Price Action is not trying to predict. Instead of that, ACT on the price. So, this chart says "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level that says "Buy if it breaks, " you should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta", "Bounce", "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never a gut feeling. It is always some reason.) that the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is primarily the "Day's High".
In the case of Positional trades, it is primarily the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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SILVER SWING TRADE IDEAAs we can see that price reached to a very crucial zone (71200-70100) so from here we can expect a bounce or breakdown that zone.
So if price break that zone and close below we can see further fall 67700 levels and if price will give a bounce back from here we can see 73900 levels as a targets.
NOTE- Only for Education Purpose.
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