Posts Tagged trading silver
I don't usually like to trade during the holiday period but I saw a nice set up today and with it being quiet, I thought to myself, what the heck....
I was looking at the silver 1 hour chart and as you can see, there's a nice downtrend in the 1 hour charts. Where I had entered too, the price had hit and bounced off the downtrend line and had also formed a double top. Traders call this confluence, when you get two or more confirmations in the technicals as I do here. I entered at 29.05 and my
December 27, 2011
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I've had an awful couple of days with trading as you know but that's the nature of trading.. I'm happy to say that I've covered those losses already and back on the positive path... :)
First trade was taken last night, this was a buy on silver.. I saw that the price action had bounced nicely off a support line and just went long. I had a target of 29.73 which was hit the following morning for 34 pips. People think that trading should be complex but it doesn't have to be.. just look for patt
December 21, 2011
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Today was a straight forward trade.. I put an order to short Silver 10 points below the previous support as you can see below and put a 100 point limit on it.
It worked like a treat and I got my 100 points relatively easily but the market continued without me. As I write, Silver is at 31.44 meaning that I left more than 50 points on the table.
I do find it very difficult to know where best to take profits.. I've done the take 100 points in the past to find it ends up like today, it moves f
November 17, 2011
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