All eyes on Silver with CPI data coming out this week
Trade idea:
We have a resistance level sitting at 23.2 on the XAGUSD pair that should turn into a breakout level once it is broken. This is my trade plan:
- Short consolidation on LTF at around 23.2
- Break of 23.2 is my entry level
- Target 1 @ 23.6
- Potential Target 2 @ 23.9 if we see a clean break of 23.2 and a fast move to T1
- Stoploss @ 23.05
- Risk-to-Reward 1:2
We have a resistance level sitting at 23.2 on the XAGUSD pair that should turn into a breakout level once it is broken. This is my trade plan:
- Short consolidation on LTF at around 23.2
- Break of 23.2 is my entry level
- Target 1 @ 23.6
- Potential Target 2 @ 23.9 if we see a clean break of 23.2 and a fast move to T1
- Stoploss @ 23.05
- Risk-to-Reward 1:2
Uwaga
Make sure to keep an eye on the dollar and gold if you are trading thisUwaga
Gold scratched the resistance level at 1930, Silver the next mover?Uwaga
DXY should move reversed to PM, if we see a sharp decline on dollar and we are at around entry, extra confirmation to tradeUwaga
This scenario makes sense when you look at major FX to dollarZlecenie aktywne
I am longUwaga
Bit of room on the trade, lets see how long it will take for this to be in the moneyUwaga
DXY holding steady, hope we see a reversal soon and more influx on GoldUwaga
So we should see some volume coming into precious metals soon, otherwise I will reduce my position and get the size in line with my risk.Uwaga
Very slow development so far, hope to see more action on this as we get nearer to CPI data release on wednesdayUwaga
Gold starting to edging higher, we should see silver make some try tooUwaga
So we are seeing some upside in PM as we get nearer to Stock openUwaga
Gold looks sharp to breakoutUwaga
High open on SP 500Anulowano zlecenie
Closed long due to volatility, will try again once we appraoch resistance levelUwaga
Let us see if we get a second try on this todayUwaga
This trade idea is becoming active again as we are approaching crucial levelsZlecenie aktywne
Entered trade at 23.21Uwaga
The target area is 23.65Uwaga
Idea still active and trade still activeUwaga
Trade looking better and betterUwaga
Trade idea playing out well so farUwaga
My plan is to take 75% of my profits at my T1Uwaga
If anyone is trading this with, please let me know what you are thinking of this trade setup and what your plans are!Transakcja zamknięta: osiągnięto wyznaczony cel
Closing trade here as we are heading into FOMC and good enough, near to T1, thanks for trading this with me!
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