Silver seemed to be in a channel during October, which broke out at the end of October (when Trump was gaining ground).
November has seen the lows bouncing off a trendline, with the price unable to break 1900.
Since the election result, it may have started channelling again.
last couple of days silver's been slammed at the US opening, after which it's made some ground back into the evening, before falling into the night.
I'm waiting for a break above or below the new (potential) channel.
As a caveat, I have no technical trading knowledge but I enjoy looking for patterns. Any constructive discussion would be appreciated.
November has seen the lows bouncing off a trendline, with the price unable to break 1900.
Since the election result, it may have started channelling again.
last couple of days silver's been slammed at the US opening, after which it's made some ground back into the evening, before falling into the night.
I'm waiting for a break above or below the new (potential) channel.
As a caveat, I have no technical trading knowledge but I enjoy looking for patterns. Any constructive discussion would be appreciated.
Comment:
slammed again. needs to bounce off 1800
Trade active:
couldnt hold the 1780-1800 channel. Short 1775 with stop 1785
Comment:
The bounce along 1780 level today was comparable to 4 oct 16 where there was a bounce along 1800 (5pm gmt). as soon as that level broke it dropped. if no break below 1741 I will close and trade the 1740-1780 range
Trade closed manually:
closed 1762.
+13pips, not as much as hoped!
+13pips, not as much as hoped!