All eyes on Silver with CPI data coming out this week
Aktualisiert
Trade idea:
We have a resistance level sitting at 23.2 on the XAGUSD pair that should turn into a breakout level once it is broken. This is my trade plan:
- Short consolidation on LTF at around 23.2
- Break of 23.2 is my entry level
- Target 1 @ 23.6
- Potential Target 2 @ 23.9 if we see a clean break of 23.2 and a fast move to T1
- Stoploss @ 23.05
- Risk-to-Reward 1:2
We have a resistance level sitting at 23.2 on the XAGUSD pair that should turn into a breakout level once it is broken. This is my trade plan:
- Short consolidation on LTF at around 23.2
- Break of 23.2 is my entry level
- Target 1 @ 23.6
- Potential Target 2 @ 23.9 if we see a clean break of 23.2 and a fast move to T1
- Stoploss @ 23.05
- Risk-to-Reward 1:2
Anmerkung
Make sure to keep an eye on the dollar and gold if you are trading thisAnmerkung
Gold scratched the resistance level at 1930, Silver the next mover?Anmerkung
DXY should move reversed to PM, if we see a sharp decline on dollar and we are at around entry, extra confirmation to tradeAnmerkung
This scenario makes sense when you look at major FX to dollarTrade ist aktiv
I am longAnmerkung
Bit of room on the trade, lets see how long it will take for this to be in the moneyAnmerkung
DXY holding steady, hope we see a reversal soon and more influx on GoldAnmerkung
So we should see some volume coming into precious metals soon, otherwise I will reduce my position and get the size in line with my risk.Anmerkung
Very slow development so far, hope to see more action on this as we get nearer to CPI data release on wednesdayAnmerkung
Gold starting to edging higher, we should see silver make some try tooAnmerkung
So we are seeing some upside in PM as we get nearer to Stock openAnmerkung
Gold looks sharp to breakoutAnmerkung
High open on SP 500Order storniert
Closed long due to volatility, will try again once we appraoch resistance levelAnmerkung
Let us see if we get a second try on this todayAnmerkung
This trade idea is becoming active again as we are approaching crucial levelsTrade ist aktiv
Entered trade at 23.21Anmerkung
The target area is 23.65Anmerkung
Idea still active and trade still activeAnmerkung
Trade looking better and betterAnmerkung
Trade idea playing out well so farAnmerkung
My plan is to take 75% of my profits at my T1Anmerkung
If anyone is trading this with, please let me know what you are thinking of this trade setup and what your plans are!Trade geschlossen: Ziel wurde erreicht
Closing trade here as we are heading into FOMC and good enough, near to T1, thanks for trading this with me!
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