The Silver market has been attempting to test the 16.615 level - 61.8 fib retracement level - but has met with strong support along the uptrending blue channel.
From the Daily chart, we have P-Pivot at 17.05 acting as support as well.
I see an opportunity for a 2.5 : 1 reward to risk trade with potential to let profits ride out to the channel ceiling in time.
Entry: 17.1
Stop Loss: 16.7
Take Profit 1: 18.1
Take Profit 2: 19.36
If Take Profit 1 is reached, I will close 1/2 of the position and move stop to entry. The remaining half position will be left to ride out the trade and attempt to hit the Take Profit 2 level.
From the Daily chart, we have P-Pivot at 17.05 acting as support as well.
I see an opportunity for a 2.5 : 1 reward to risk trade with potential to let profits ride out to the channel ceiling in time.
Entry: 17.1
Stop Loss: 16.7
Take Profit 1: 18.1
Take Profit 2: 19.36
If Take Profit 1 is reached, I will close 1/2 of the position and move stop to entry. The remaining half position will be left to ride out the trade and attempt to hit the Take Profit 2 level.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.