XAGUSD Trade Log
Updated
Trade Setup (2/11/2024) - XAGUSD Long in Daily FVG
1. Setup: Enter a long position at the market open within the daily Fair Value Gap (FVG), as price is currently deep within this potential support zone.
2. Entry strategy:
- Target: 1:2 RRR.
- Risk: 1% of account.
- Entry confirmation: If already in the FVG, look for price stability or reversal signals (e.g., bullish candlestick patterns or rejection wicks) to confirm the entry.
3. Stop-loss and take-profit:
- Place stop-loss below the lower boundary of the daily FVG to manage downside risk.
- Set take-profit at twice the stop-loss distance to achieve a 1:2 RRR.
4. Additional considerations:
- Monitor for any relevant economic or geopolitical news that could affect silver's volatility.
- Ensure that the price action continues to support the long bias before committing fully to the trade.
1. Setup: Enter a long position at the market open within the daily Fair Value Gap (FVG), as price is currently deep within this potential support zone.
2. Entry strategy:
- Target: 1:2 RRR.
- Risk: 1% of account.
- Entry confirmation: If already in the FVG, look for price stability or reversal signals (e.g., bullish candlestick patterns or rejection wicks) to confirm the entry.
3. Stop-loss and take-profit:
- Place stop-loss below the lower boundary of the daily FVG to manage downside risk.
- Set take-profit at twice the stop-loss distance to achieve a 1:2 RRR.
4. Additional considerations:
- Monitor for any relevant economic or geopolitical news that could affect silver's volatility.
- Ensure that the price action continues to support the long bias before committing fully to the trade.
Note
Long it boys
Trade active
Letting it run.
Trade closed: target reached
I'll re enter worst case here
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