Silver (XAGUSD, SI1!). Cup & Handle Pattern.

11 Ara 2016

This is simple Cup & Handle pattern setup.
We are in a Handle already.
Breakup of the Lip would validate longs above $17.24.
Target = Lip (17.24) + Depth of the CUP (1.086) = 18.318
Right at that area there is a double resistance - 09NOV low + Falling trendline

Some traders enter long on the break of the Handle, which is the first resistance.
Anyway one should obey its own risk rules.

15 Ara 2016

Emir iptal

Model was broken. Price dipped below the Cup.