Channel trade for Silver
Updated
Current prices are at the top of the downward channel which may be a build up for a short opportunity.
For confirmation;
1. declining MACD histogram;
2a. oversold RSI levels;
2b. declining RSI levels; and
3. bearish engulfing.
Trade details
Stop loss: Immediate preceding high
Partial profit: Short term profit in the region of the green lines (strong resistance and fibb levels)
Full profit: nearing intimidate lows or at channel support line
Expected duration: 2-3 weeks
Best trades^^
For confirmation;
1. declining MACD histogram;
2a. oversold RSI levels;
2b. declining RSI levels; and
3. bearish engulfing.
Trade details
Stop loss: Immediate preceding high
Partial profit: Short term profit in the region of the green lines (strong resistance and fibb levels)
Full profit: nearing intimidate lows or at channel support line
Expected duration: 2-3 weeks
Best trades^^
Trade closed: stop reached
Totally invalidatedNote
That green support line killed it though
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