empty
 
 
26.02.2021 12:52 PM
Trading idea for silver

This image is no longer relevant

A bearish momentum took place in the market yesterday and today. Because of this, silver can now reach $ 26.

This image is no longer relevant

In fact, since the quotes have formed a wave pattern (ABC), where wave A is the downward movement yesterday, traders can open sell positions from $ 27.3 - $ 27.5 and work for a 50% retracement. To do this, place limit at $ 27.9, and then take profit as soon as the quote breaks through $ 26.

Of course, traders still need to be careful to avoid losing money. Trading in this financial market is precarious, but profitable if the approach used is correct.

The idea above is under Price Action and Stop Hunting methods.

Good luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback