PAAS - Silver about to take everyone by Surprise - LONG @ Open
Updated
Silver is looking to breakout soon and with all the Monetary Stimulus coming Silver is a good store of value. Not to mention Biden's GREEN NEW DEAL will call for Solar panels all using SILVER. Demand will go up and PAAS is poised to reap the rewards more than the underlying commodity.
The Chart shows planned entry at the OPEN tomorrow morning. (Expected Entry Price ~$33.52) SL = $31.23 and Target Price of $57!!! LARGE BULL FLAG shows upside price target of $57.
Multiple Time Frames including Weekly, Daily, and 8 hr ALL flashing a BUY signal. MACD broke its downtrend and is now rising and crossing UP over 0 line as well as Bullish Divergence all of which indicate momentum and trend is now to upside despite the fact we have not broken out of Bull Flag. This is slightly risky trade in that I usually wait for Price action confirmation breakout. But I think this break is imminent and likely to GAP up overnight soon. Also with this trade there is a 9.5R return. So for every $ risked I stand to win $9.50. With THAT kind of Risk Reward I can lose 9 times and STILL be a winner. So going to take the trade a bit earlier than usual with expectation of breakout SOON.
The Chart shows planned entry at the OPEN tomorrow morning. (Expected Entry Price ~$33.52) SL = $31.23 and Target Price of $57!!! LARGE BULL FLAG shows upside price target of $57.
Multiple Time Frames including Weekly, Daily, and 8 hr ALL flashing a BUY signal. MACD broke its downtrend and is now rising and crossing UP over 0 line as well as Bullish Divergence all of which indicate momentum and trend is now to upside despite the fact we have not broken out of Bull Flag. This is slightly risky trade in that I usually wait for Price action confirmation breakout. But I think this break is imminent and likely to GAP up overnight soon. Also with this trade there is a 9.5R return. So for every $ risked I stand to win $9.50. With THAT kind of Risk Reward I can lose 9 times and STILL be a winner. So going to take the trade a bit earlier than usual with expectation of breakout SOON.
Trade active
Opened position yesterday at market open and as expected PAS up 2.5% today as underlying commodity of Silver up only 0.7%.Trade active
Trade is in profit and testing horizontal support. Will hold everything at current prices and will not add to position until we have a more definitive breakout.Trade active
Does not look like many people are interested so I will not update this thread post. having said that I pan to stay in this trade most all of 2021 and probably beyond. This swing trade is likely to turn into a position trade and longterm hold of many months. Well in profit now and will only update when I get out of trade. Otherwise for anyone watching this in the future expect that I will attempt to buy the dips and expect this to be a rather large gain by the end of 2021.Trade closed: stop reached
SL hit on Jan 14, 2021. Losing Trade for loss of 1R. Just Updating this Trade Idea.
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