Trade Idea: Are The Bulls Now Taking Control Of Silver?
Important note on charts:
It’s imperative to your trading success, you are trading with a broker that offers “New York Close Forex Charts” where each daily candle opens and closes at 5 pm EST. This is essential with trading price action correctly.
Trade Setup Disclaimer:
All my trade setups provided, is not advice or a recommendation to trade or invest. It is solely for educational and general information only.
Don’t blindly buy or sell the Forex markets discussed in this trade setup. Do your own research and always be aware of the risks and rewards.
Potential Trade Setup: Are The Bulls Now Taking Control Of Silver With A Bullish Indecision Candle
All charts I provide are of the Daily time frame unless stated otherwise.
Key Levels: Broken resistance 14.64 with holding as a new support. Current next key level of resistance 15.05 then 15.30
Price Action Signal: A bullish indecision candle formed at the flip zone of new support.
Chart Notes: After breaking out of a descending channel, now places this pair into a bullish bias.
Potential Trade Idea:
I am considering buying this pair of the broken key level of 14.64 as it now holds as a new support.
There is a bullish indecision candle formed at this newly formed support level for a possible long entry.
This setup has plenty of free space, giving the trade idea room to head higher.
With a first potential target being the last daily highs. Will give me a 1-1 first target.
With a 2nd potential target at the next logical area.
I can’t stress enough here, that patient and discipline is the key to any successful trader.
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Now is your turn:
How are you planning this setup? What are you looking for to catch the next bullish move with this pair? Just leave any question or comments below.