XAGUSD: Silver offers a buy on dips
Updated
We have a potential long entry if Silver drops back under 17 after the market opens. A tight stop could be 16.765, and you could also use 16.444 if more conservative.
The setup calls for upside to 17.63, or even up to 18.051.
Keep risk under 1%, and give it a couple days from entry. The daily chart triggered an uptrend but I don't know for sure if it won't chop instead of trending again, so, don't risk too big on this trade.
Good luck,
Ivan Labrie.
The setup calls for upside to 17.63, or even up to 18.051.
Keep risk under 1%, and give it a couple days from entry. The daily chart triggered an uptrend but I don't know for sure if it won't chop instead of trending again, so, don't risk too big on this trade.
Good luck,
Ivan Labrie.
Note
If you bought close to 17, stop can now sit at 17.095Trade closed manually
Target hit, we dropped during NFP and retested the buy zone. I'm long again, after closing in profit at the target. Stop: 17.102, entry: 17.449Trade active
Trade closed manually
Target hit, better exit.
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