I expect a continuation of the strong up trend
Silver is undervalued as compared to Gold. As uncertainty in the equity markets rises investors flock to Gold as a safe heaven. Instead of buying Gold I will be buying Silver. I will hopefully exchange the Silver later for Gold when the Gold/Silver ratio will be lower.
If price breaks higher I will be entering long
Another inside bar short setup developed. The other short order is also still in place.
If price breaks lower I will short targeting next major resistance level.
I will be playing two possible entry scenarios. 1) price retraces to the 50% level of Fridays price action 2) price breaks above Fridays high I possibly get in on both trades. If trade 2 is triggered I will be looking for higher targets, while trailing my stop. Good luck trading everyone this week!
Also still keeping the stop order below the lowest low.
I did not get filled on the reversal. Now there is another change to go long on the cable.
I am not trading this. But these are two possible trades I see. Let's see if they would have worked out.
Two trades. One at retracement and one at break out
I am not trading this as I mostly trade reversals of significant levels or with trend break outs. Just wanna see and test if this could be a viable trade. I think that the stop should probably be bigger, making these trades 1:1 RR trades. I will also look out for reversals on the top of the range.
Planning for a possible entry on slightly higher price. Adding on to the position after break lower.