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Silver (Mini) Futures

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QI1! trade ideas

False Breakout Trap In Flag FormationThis is very good example of false Breakout Trap in Flag Formation. What happened in this case , Silver is in downtrend fir long time and a reverse chart pattern formed near the bottom of the week. A flag formation is formed in 2 days of trading session where I used 3o minutes chart for this formation. Once the flag formation breaks near high of the trend line ,most of the trader went long because they are tired of sideways movement of silver for last 2 trading days So the price of silver rise for some time then fall back to the bottom price which is actually demand zone for last some weeks . The important point to note here is one should wait for the breakout confirmation in Flag chart Formation, Most of the time flag Formation Breakouts confirm at least once then again' real Breakout occure... What I consider important here- 1- First mark trend line both the side of the price range which is lower lows and higher highs 2- Wait for the price to break it either side of the trend line then wait for Retracement. 3-The price will most probably come down to the demand zone then make your long position there with very small stop loss As you are entering at the bottom of the lower trend line. So your risk reward is very good here and you have very less ti lose here and reward is very high. 4- Then you will see amazing movement of the price with big candles formation and stay In the trade till the flat formation pattern rise . 5- The possibility of this type of trade is very high if you make right Entry.
MCX:SILVERMIC1!Long
by Devjitrader
1