FX.co ★ Trading tips for silver

Silver underwent a strong correction, falsely breaking through $21, which is a level important for buyers.

This situation calls for more purchases in the market, starting from current prices up to the 50% retracement level of $21. Then, stop loss can be placed in these three levels:

1. After a false breakdown below $20.

2. At the support level of $18.

3. At the 2020 low of $12.

Take profit on the breakdown of $30.

This idea is based on the "Price Action" and "Stop Hunting" strategies.

Good luck and have a nice day!