Quote:
Originally Posted by trader123
There are 2 main drivers for precious metals: rising oil price and falling USD. Today oil price has rebounded after falling $17 last week and USD has continued to depreciate. Hence this is a perfect setup for precious metals to rise higher.
On the chart, middle band of bollinger had supported silver price. I believe silver price is going to move higher from here.
Bought 1 lot of Silver at 18.40
Stop level at 17.98
Target level at 18.80
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I had bought 1 lot of Silver at 18.40, stop level at 17.98, target level at 18.80.
Stop was triggered, loss is US$420.35.
Michael Steinhart
“Good trading is a peculiar balance between the conviction to follow your idea and the flexibility to recognize when you have made a mistake. All great traders are seekers of truth. The markets are always changing, and the successful trader needs to adapt to these changes.”