XAGEUR trade ideas
Break of structure - Long Silver EURPrice coming off nice inflection point of resistance turned to support
Choppy slow downtrend - looks to be a retracement against new uptrend
Enter on break of next swing high.
Track speed of the break with 20 SMA on 4HR chart
Take some profit where available ie. 1R
Goal is to catch weekly and month timeframe uptrend.
As trend develops add positions
XAGEUR look for buyHello, traders. At XagEur we can look now for a buy trade to the upside, possible to touch the top. Use tight SL if the price reverse down, and put it on breakeven if once there is an impulse.
Happy trading, guys.
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Silver Priced In EurosI'm currently traveling through Europe, doing a tour of Germany, France and Spain. Being the Gold and Silver bug that I am, I like to check the price charts in the currency I'm using.
Even priced in Euros, Silver is painting a deathly head and shoulders pattern, probing critical support. Even in Euros, the measured move projects down to below the 2008 low of 6.77.
I buy physical Gold and Silver more out of habit and as device of money management. But I will continue to hedge any purchases - the picture does not look pretty, even in Euros.