XAGUSD Silver 1W candle didn't cross the high of last week, and opening range of 3rd - 9th June week, implies, inner candles, and strength to break key resistance.. Expecting sideways to downside movement for next 1-2 days, and sharp fall after this in next week.. Keep SL of $31 in XAU-USD, or 92500 in INR terms, and sit on Shorts for 5000 points minimum
🔸 **Reason for Entry:** A pending buy limit order at 2384.4, anticipating a bounce from this level based on previous support and resistance.
🔸 Gold Sell Limit: 2322.5
- Stop Loss (SL): 2333 - Take Profit (TP) Targets: - TP1: 2320 - TP2: 2318 - TP3: 2315 to 2310
🔸 **Important Note:** Don't wait for all take profit targets to be hit. Consider taking partial profits as soon as reasonable gains are achieved.
🔸 **Risk Management Rules:**
1. **Position Sizing:** Only risk a small percentage of your trading capital on each trade, typically no more than 1-2%. 2. **Use Stop Losses:** Always set a stop loss to limit potential losses in case the trade goes against you. 3. **Stick to Your Plan:** Follow your trading plan and avoid making impulsive decisions based on emotions.
SILVER interest rate may be reduced at sept but a slight reduction cannot push the price to the haven as commercial demand will not to be charged dramatically overnight. story of industrial demand also sought during 2011 spike and dumped there after.
SILVER looking really bullish and if break out and sustain above 30 then we can see the targets shown in the chart and I can see it may touch all time high this time after 2011