Silver - Symmetrical Triangle Breakout

Silver Symmetrical Triangle Breakout 🚀

Silver has delivered a textbook symmetrical triangle breakout, and the current setup looks highly promising for bullish momentum. Here's the detailed analysis and trade setup:

Buy: Silver at CMP (31.67$)
Stop Loss : 29.5$ (Breakout candle's low)
Target: 37$

Price Action Analysis:
After the breakout, prices surged to 34.86900, indicating strong bullish momentum.
From there, Silver retraced to retest the breakout zone, forming a low at 29.64300—a healthy consolidation phase.
After several weeks of consolidation, prices have given another strong breakout, confirming the continuation of the uptrend.

Target Calculation:
Point A (32.51850): Upper resistance of the triangle
Point B (26.47100): Lower support of the triangle
Difference (A - B): 6.04750
Add this difference to the breakout price (31.17850):
Target: 31.17850 + 6.04750 = 37.22$ (Rounded off to 37$)

SL Explanation:
The Stop Loss is placed at 29.5$, which is the low of the breakout candle, providing a strong risk management buffer.

This setup reflects a classic breakout-retest pattern with a favorable risk-reward ratio. Volume confirmation further strengthens the breakout. Let’s aim for 37$! 💹