Long ZSL
Since Nov 2015, SLV is always not held well in Nov, and an opportunity for long ZSL is here. Entry price 8.4, aiming 10.5 or even higher. If ZSL drops to 7.8 in the next few days, I am adding more. Stop loss is loose around 7. Betting on the retracement cycle of silver repeats itself.
Note
XAG did not pull back as expected today; the ZSL entry price a bit high :(. The next 2-3 days are pretty crucial. Stop-loss ~7.4. If not, the DXY cycle is very likely to start to drop again. If DXY breaks down to a new cycle, stop-loss is almost certain. If not, I will have to wait patiently till the next DXY down cycle in 10-14 days, which makes it the end of Nov/early Dec.
SLV generally starts the next bull cycle around early/mid-Dec. Just my position is locked up till then or I take a loss.
Trade active
Crucial position for shorting silver in the next couple of days. DXY likely reached trough yesterday. Unexpectedly, gold/silver did not rise much in the last couple of days with the DXY uptrend cycle. Something fishy is going on. Should net profit in the next couple of days, stop loss raised to 8.
Note
A great start of the week, my timing was off for about 9 days and was holding a 4% loss for a couple of days but everything worked out well so far. Gold and Silver declined as expected agreed to a yearly-cycle in Nov, and broke down the support line.Trade closed: target reached
Took profit at ~9.2. 10% profit with a large position.
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