MONK NEGOTIATES SILVERTRADE SETUP AS PER MONK STRATEGY.
ONE SINGLE TRENDLINE AND THAT IS ALL YOU NEED TO TRADE AS PER PRICE ACTION.
ALL THE BEST
XAGUSD trade ideas
SILVER good to buy on dips around $15.40-15 with SL around $14.7Silver continues to trade higher for second consecutive day and closed above $15.50 for the first time since June 2018. This confirms major bullishness and a jump till $15.90/$ On the higher side, yellow metal is facing strong psychological resistance around $16.21 and break above will take the silver to next level till $17.40/$18.64.
The near term support is around $14.80-14.40 and any violation below will drag the commodity down till $13.90/$12.55.Any break below $12.55 confirms minor weakness.
It is good to buy on dips around $15.40-15 with SL around $14.70 for the TP of $17.40-18.64.
BREAKOUT @ SILVER (UPDATE)LEVELS MENTIONED IN THE CHART.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
FLAG-PENNANT @SILVERLEVELS MENTIONED IN THE CHART.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
SilverCurrently Silver is within consolidation on Hourly Chart. It has taken support multiple times in the range of 15.450 to 15.550 which is very akin to 0.382 Fibo Retracement from the previous swing low. Till the time its holding onto that support, the chances of breakout above resistance zone increases and we might get a good long entry.
Silver spot near breaking of resistance Silver spot near breaking of resistance 14.80 can rise till 14.90 and above 15 also possible .
After long time consolidation takes place in silver and now it signaling breakout and taking support around 14.40
BUY SILVER FOR WEEKLEY TRADER .-
ALERT SIGNAL FOR POSITIONAL
TRADE ALERT SIGNAL
DATE -13/10/2018
BUY ENTRY 1 - 14.48391
BUY ENTRY 2 -14.37781
STOPLOSS- 14.25198
TARGET 1 - 14.60078
TARGET 2 - 14.72411
Hit like, comment and follow for more profitable Trades.
Happy trading.
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HOW LONG WIT SIGNAL IS VALID
FOR WEEKLEY INCOME TRADER (WIT)
1,IT IS VALID UPTO 24 HOURS,ONCE IT HITS THE ENTRY
2,ONCE PAIR CROSSED 10 PIPS,MOVE YOUR TRAILING STOPLOSS TO 2 BREAKEVEN OR ENTRY
3, WAIT FOR TARGET OR EXIT AT YOUR OWN COMFORT
MONEY MANAGEMENT RULES
Let’s say, If you have 1000 USD trading balance, you can use Maximum 0.10 lot (0.02+0.03+0.05 = 0.10 lot is the addition of all your open trade lot sizes).
0.10 lot should be your maximum open lot on your 1000$ trading account.
10,000 USD balance = 1 lot maximum (Example : 0.25 lot x 4 orders = 1 lot)
50,000 USD balance = 5 lot maximum (Example : 1 lot x 5 orders = 5 lot)
If you are more emotional(tension, sad, greedy) while trading, You can change your leverage below 1:50 to control your emotions.
*SUBJECTED TO MARKET RISK
Understanding the importance of each or these trading rules, and how they work together, can help traders establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive arena.
Personally, I like to use a system that has the highest reward to risk, which means that I tend to look for turning points at support and resistance levels because these are the points where it is easiest to identify and quantify the risk. Support is not always strong enough to stop a falling market, nor is resistance always strong enough to turn back an advance in prices. However, a system can be built around the concept of support and resistance to give a trader the edge required to be profitable.
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TEAM FXSIGNAL]
SHORT SILVER FOR A TARGET OF 13.5 AND IF BREAKS NEXT LEVEL 10SHORT SILVER WITH A NEAR TERM TARGET OF 13.5 WHICH IS A SUPPORT AND IF BREAKS THEN NEST TARGET AROUND 10 ON A MONTHLY CHART
There is a trading opportunity to buy in silverMidterm forecast:
While the price is above the support 13.60, beginning of uptrend is expected.
We make sure when the resistance at 15.60 breaks.
If the support at 13.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (14.650 to 14.400). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (14.650)
Ending of entry zone (14.400)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Technical analysis:
While the RSI resistance #1 at 44 is not broken, the probability of price increase would be too low.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 33.
Take Profits:
TP1 = @15.000
TP2 = @15.250
TP3 = @15.600
TP4 = @15.900
TP5 = @16.200
TP6 = @16.550
TP7 = @16.850
TP8 = @17.200
TP9 = @17.700
TP10 = @18.100
TP11 = @21.000
TP12 = @22.000
TP13 = @25.100
TP14 = @28.350
TP15 = @33.300
TP16 = @37.500
TP17 = @44.200
TP18 = @49.800
TP19 = Free
Silver ready for dead cat bounce to 16/16.25 levels?MACD divergence building on daily charts may prompt a bullish bounce in Silver to 16/16.25 $.
Silver downside rally over ?Chart explains everything, wait for weekly closing to check for further moves.
