FX.co ★ Trading tips on gold and silver

An interesting situation is developing in the gold market. Mid-term sellers are currently trapped, forcing them to hide risks at 1833. In this regard, the best action is to provoke a rebound, not to sell with a stop at 1833, or work for a fall after a false breakdown of 1833.

A similar picture can be seen in silver, but this time the stops are at $ 24.9 - $ 25.

A breakout is only a matter of time because silver, after all, is already in its third wave in higher time frames.

As such, traders could take long positions up to $ 30, which is the high reached last 2020 and this year.

This analysis is based on impulse trading and stop hunting strategies.

Good luck and have a nice day!