Silver bouncing out of a 40 Day trough.
Hello Traders,
Dont pay much attention to the all them messing lines Ive drawing on the chart, they are scribbled on a shorter time frame.
TROUGH ANALYSIS
As I trade the 80 day cycle, targets are generated using the 20 Day FLD, Price is currently below the 20 Day FLD. Todays Median Price of this FLD
is 15.51 taking the Pivot point of the low of the 40 day trough (on 21st April) at 14.50 Target comes to 16.52
I have my buys set at the cross point might change them based on the price action on shorter time frame.
These targets are dynamic and change everyday (as I trade EOD), depending upon the position of the FLD. I'll update as they change.
Note: these numbers mentioned above are based on my broker, Alpari internation and not Oanda (the chart above), so there will be slight variations when compared to the Chart above.
Dont pay much attention to the all them messing lines Ive drawing on the chart, they are scribbled on a shorter time frame.
TROUGH ANALYSIS
As I trade the 80 day cycle, targets are generated using the 20 Day FLD, Price is currently below the 20 Day FLD. Todays Median Price of this FLD
is 15.51 taking the Pivot point of the low of the 40 day trough (on 21st April) at 14.50 Target comes to 16.52
I have my buys set at the cross point might change them based on the price action on shorter time frame.
These targets are dynamic and change everyday (as I trade EOD), depending upon the position of the FLD. I'll update as they change.
Note: these numbers mentioned above are based on my broker, Alpari internation and not Oanda (the chart above), so there will be slight variations when compared to the Chart above.
Buy orders waiting at 15.43