Besides Gold, Silver is the main topic on CNBC lately. If you look at the weekly chart on Silver, we have reached a major resistance on Silver. In fact, on the daily timeframe, we gapped straight up to that resistance value.
Looking at the daily Ichimoku chart, it shows that out of equilibrium since the Tenkan Sen is far away from price. As a result, we will wait for a pullback to occur and then look for a low risk trade for Silver to break the major resistance.
If you are a conservative trader, this trade may not be for you since we are looking to trade a breakout of a major weekly resistance.
For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose
