Ascending Triangle on Silver! Precious Metals Going Higher!

16 maj 2017

Hey Traders, We are seeing some strength in the Metals and this bounce seems to be playing out exactly as planned. I think Silver is getting ready to head towards $17.00 per ounce. I am already long (shown in previous idea below) However I may take on another short term long position if price can break out of this Ascending Triangle formation. I will be looking for price to break out of Ascending triangle formation followed by a pull back to retest previous resistance as support. If this occurs and we get bullish signals on the retest of previous resistance (now support) I will be looking to enter based on my conditions and criteria for entry. If you would like to learn more about Ascending Triangles and how I plan on looking for trade opportunities, Please check out my previous idea linked below "Simples Patterns Tutorial Part 1, Ascending Triangles".

Entry- 16.80 (if price retests resistance as support after break out of Ascending Triangle)
Stop- 16.70
Target- 17.00

This is a short term trade. Please do not enter this trade if it does not meet your conditions and criteria for entry. Good luck Traders!!

18 maj 2017

Transakcja zamknięta: osiągnięto wyznaczony cel

Target reached and filled at $17.00. Another great trade posted here on tradingview!