Silver neutral setup - where is it going to break out?
Just like Gold, Silver has shown a great bullish trend lately.
Now, however, both precious metals have slowed down and put in a range period.
The boundaries are well defined between 15.87 and 15,27 and this should also mark your no-trade zone. At least if you are active on the higher timeframes, you must wait for a clear and confirmed breakout.
So far we have seen rejections to both sides and the amateurs who cannot sit on their hands will get slaughtered at those range fakeouts. You must see a confirmed close outside of that range.
With regards to post-breakout trading, both the upside and the downside show "messy" trading behavior when we look left. Below and above price, Silver will immediately run into past range markets. Thus, we cannot favor a side where there'd be less noise and no "easier" path to clear is obvious.
Make sure to keep the birdseye view here because the closer you zoom in, the more it looks like a top-heave trend that will reverse lower any second. Zooming out helps you put things into perspective and you actually can see that the uptrend has just started.
Trade safe!
Now, however, both precious metals have slowed down and put in a range period.
The boundaries are well defined between 15.87 and 15,27 and this should also mark your no-trade zone. At least if you are active on the higher timeframes, you must wait for a clear and confirmed breakout.
So far we have seen rejections to both sides and the amateurs who cannot sit on their hands will get slaughtered at those range fakeouts. You must see a confirmed close outside of that range.
With regards to post-breakout trading, both the upside and the downside show "messy" trading behavior when we look left. Below and above price, Silver will immediately run into past range markets. Thus, we cannot favor a side where there'd be less noise and no "easier" path to clear is obvious.
Make sure to keep the birdseye view here because the closer you zoom in, the more it looks like a top-heave trend that will reverse lower any second. Zooming out helps you put things into perspective and you actually can see that the uptrend has just started.
Trade safe!
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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