The index markets... and silver
11.9.23 8:00 am I started with the Russell which traded down to support area and has a buying tail which makes this a potential long trade and you use a small stop. There's a paradox here because I'm looking for this market to make new lows... but there is a potential buy signal... and I could consider this is a long trait and I explained why.... it's not the greatest trade... but if I'm going to take the trade pretty much has to be now since it is at a support area and if I want to take a long trade I don't want to wait for the market to move a lot higher and then I take the long trade. Sometimes you can get into these quick setups and if you get inefficiently they may move higher but they may never get to the larger target... and yet you can make a significant return if that market moves for a couple of days which allows you to make a profitable trait without using up too much time to make a trade decision in the first place. You definitely want to know what your stop is and stick to it.... and in this case the market doesn't have to move too far higher before you can run into some sellers... so this will not be the Best trade you will ever find. I talked about the ES and there's no trade here for me but I described what I might look for assuming that the market expands and starts showing me some good trades. We took a quick look at silver which is at a support area but it might move lower to A lower support area which would be a very good return. I didn't get to gold.... which has a different pattern from the silver but there is a possibility that this market could trade lower as well and it is at a support area.
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