Trade Idea: Silver Buyers Building Pressure At Support
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.
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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: Silver Buyers Building Pressure At Support
All charts I provide are of the Daily time frame unless stated otherwise.
Trend: Very Bullish
Key Levels: Broken resistance key level 15.16 with next resistance at the 15.53
Price Action Signal: Awaiting a price action signal at the current support area.
Chart Notes: Silver has been in a bullish trend, with recently offering a buy trade, now price has retraced back into the broken key level 15.16 and sits at a strong area of support.
With a strong bullish bias that remains intact, I am watching for future bullish movement.
Potential Trade Idea:
I am considering buying this pair again of the broken key level of 15.16 if there is a strong reversal signal today of the support.
This setup will have plenty of free space, giving the trade idea room to head higher to the next key level 15.53 of resistance.
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.
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