Short, then long SILVER

stops for shorts 17.249 stops for longs 14.30

Trade active:

Short; put stop 14.50. The risk is very small, but reward is quite high, it will drop to low 15's unless it breaks 17.50.

Comment:

i meant put stop 17.50

Comment:

Not a bad rejection candle; I'm liking the way things look. I expect price within this week to retest the 17.25 level; .500 fib + resistance confluence, but it may also fall from here. If it does retest, I would recommend add a bit to short if you haven't already overleveraged :D. Risk is small the higher it gets. If it breaks down, move will be swift, swifter if it retests once or twice the 17.20s and 17.30s. Good luck!

Comment:

Two routes to the breakdown:
www.tradingview.com/chart/sssWF4N6/

Comment:

ok here's what i meant:

s3.amazonaws.com/tra...shots/4/44EJNBd7.png

Comment:

Price is very close to breaking out of the ascending channel. Let's see if it does as predicted from the last update.

s3.amazonaws.com/tra...shots/z/zTk5NeJn.png