Silver - Late faller (Short term trade idea)

Silver is not falling with gold right now. I think gold will have at least one more day to drop.
It could be low risk trade to sell silver now with a stop above 20.7.
We might get a 1 $ drop in the night or tomorrow.

Target price is at the bottom of the bull flag : 19$

I'm trading this one on my account.

Note

This idea is valid for 24-48 hours maximum.
If gold continues its decline tomorrow and silver is just lagging we have to forget about it.
If gold pops tomorrow and gold's decline starts to stretch for a week we might hold this short till Friday maybe Monday.
I will post here if this trade is closed

Note

Silver not poping with gold...
It has a date with the bottom of the bull flag at 19$ in the following days....

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Still holding the silver short.
As gold is moving down into the DCL silver will follow to the bottom of the flag.
It will be a very fast move. It will fall 1$ in 5-6 hours.

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Get ready guys,
I think the drop starting here also.
It could be very fast: 4-5 hours of strong decline.

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Now I would like to see some real pain here also.
Silver drop is very fast. If it starts it can print a 1$ drop in 3-4 hours.

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Ready?

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Thus were born.
Ok then steady.

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DROP!

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The bottom of the flag is at 18.50. But I will take profit between 19.10-19.30

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We have started to move to the bottom of the flag.

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Silver cannot break away from the upper trendline.
I'm still holding this short and I will take profit immediately as price tags 19.2$.
This kind of trendline-crawling could be bullish after 2-3 more days.

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We might be in a triangle / pennant ...
If it's a triangle it can break down or up.
If we are not breaking down in 2-3 days I'm going to close the position
as I don't want to be get caught in a pennant which breaks to the upside with a 5$ rally to 26$...
So I would like to see a break of today's low very soon.(tomorrow or the day after tomorrow)

Note

One could take profit on half of the position.
I think tomorrow we will continue the decline but always good to close some profit.

Note

Closed half of the position at 19.271$

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