Silver - Short
Technically, silver has faced resistance twice at the 61.8% retracement level, and we expect the previous peak to be retested. Additionally, when we examine the H1 timeframe, we see that the price has formed a double bottom at the 61.8% level, and by breaking the neckline, it confirms its desire to move upwards.
On the copy trade side, we made a pinpoint entry at the lowest level, and we will continue to keep our stop loss at breakeven until we see a clear reversal signal. Our target is to see an upward movement toward the previous peak.
On the copy trade side, we made a pinpoint entry at the lowest level, and we will continue to keep our stop loss at breakeven until we see a clear reversal signal. Our target is to see an upward movement toward the previous peak.
Trade closed manually
A great upward movement has begun. 29.23 is our first significant resistance level. You can close most of your position at this level. Our main target is $30, but we might see another sharp decline before reaching those levels. Particularly with tomorrow's US non-farm payroll data, a sharp drop could occur. To avoid this risk, you can close most of your position and move your stop loss to breakeven or a profitable level for the remaining part.
In our copy trade service, we closed the entire position to avoid the risk of tomorrow's data.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.