Silver is set to follow it's long lost posh cousin, gold, on the sell-off. This is quite a risky trade considering the large pullbacks in the silver market. Plus there is the notion of entering a short when the market is already oversold. But we don't care about indicators, do we? Surely i entered a short trade on the last gold trade when the stochastic oscillator was heavily oversold, but i came out with some profits. The only perk was i had to go and write an exam the following day, while holding the trade and when i came back home to the Wi-Fi zone, it had barely moved. It only started moving when i was relaxing thinking of of how to get rid of my headache. Still, we won the trade so that's that. My entries on the trade are as follows:
Entry: now or never!!!
Stop loss: 14.583
Take Profit: 14.000 or sooner!!!
Entry: now or never!!!
Stop loss: 14.583
Take Profit: 14.000 or sooner!!!