Reserved for introduction.
Basic introduction: Singaporean, trading account of SGD 3,000 with hopes it grows to a million.
My first trade is to sell XAG/USD at $25.487. I’m targeting this as a swing trade with TP at $25. I believe we have reached the maximum highs for Silver (although this is not the best or perfect entry apparently). I’m expecting this movement to ignite during London session, which would be in about 40 minutes. I hope this trade pan out and fast.
The three white soldiers formed have been followed by a three black crows, signaling bullish momentum may have been lost. Furthermore, we are reaching a psychological resistance level; for most part of the year, Silver has traded below $26.
I don’t think we will trade above $25.700 so with a target of $25, that’s decent RR.