Analyzing Silver's Price Action: Educational Trade Idea
Short Bias Setup:
Entry: Wait for the price to retest the descending trendline (~$31.50) and fail to break above it.
Target: $30.00 (initial), followed by $28.50 if momentum persists.
Stop Loss: Above $32.00 to protect against a trendline breakout.
Alternative Long Opportunity:
Entry: A confirmed breakout above the trendline with high volume (~$32.20).
Target: $33.50 (resistance level) and beyond if the trend reverses.
Stop Loss: Below $31.00 to minimize risk.
Entry: Wait for the price to retest the descending trendline (~$31.50) and fail to break above it.
Target: $30.00 (initial), followed by $28.50 if momentum persists.
Stop Loss: Above $32.00 to protect against a trendline breakout.
Alternative Long Opportunity:
Entry: A confirmed breakout above the trendline with high volume (~$32.20).
Target: $33.50 (resistance level) and beyond if the trend reverses.
Stop Loss: Below $31.00 to minimize risk.
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