This was a straightforward trade. I entered long as I saw the price action move strongly up to hit resistance as in the chart. I entered long at 3095 and attempted to ride it as high as it would go. You can see that the price action starts to lose momentum at around 1700 hours (UK time) and a final push up which then falls below the previous high which is a sign of weakness. I got out there at 3125 which gave me a total of 30 pips!
April 26, 2012
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I decided that I was going to short silver today, my entry was at 3200 with a stop above the previous high at 3220. My target was 3180 which is a 1:1 trade. Also 3180 was a support level which you can see in the 15 minute chart. You would expect a bounce at this level but you never know how far so I rather take my profit here.
I have found that by taking at least a 1:1 trade you have a chance of making money. If you get into the habit of any less than this, you will be sure to lose mo
March 29, 2012
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