FX.co ★ Trading tips for silver

The previous trading plan for silver aimed to increase its price in the market.

That is exactly what happened when the metal rose 1,500 pips, and continues to show a strong upside potential at the time of writing.

For those who did not have time to buy silver, there is still a chance to do so; however, it should be according to this strategy:

There is currently a three-wave (ABC) pattern, in which wave A represents the buying pressure of the last two weeks. Traders could enter the market by opening long positions from the 50% and 61.8% retracement levels, with stop loss set at $17 and $20. Exit the market by taking profit upon the breakdown of $24.5 and $30.

This trading idea is based on the "Price Action" and "Stop hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.