XAGUSD - Have We Broken Out Of The Downwards?

14 ago 2023

Analysis:
Bullish Confluences

• Breakout of downwards trend
  
• Retesting a previous area of support
  
• Breakout above longer term downwards trendline
  
• Retest of previous longer term downwards trendline for support
  
• 1k long position decrease for the USD
  

Bearish Confluences

• 1k short position decrease for the USD
  

Stay Safe - The JPI Team
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Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.

14 ago 2023

Trade attivo

Our entry criteria has been met and our order has been filled. We are long on silver looking for price to continue to the upside after the breakout of the downwards trend that we saw recently.

30 ago 2023

Trade chiuso: obiettivo raggiunto

Trade Closed
(+5.16R) Made
After Trade Comments:
Firstly what a beautiful trade this was! Price pretty much tagged our entry before then heading up, and up, and up until we eventually hit our take profit locking in a great RR trade. Recently we've seen the USD weaken which has massively helped out our trade. Before we continue not every trade we take is like this, in fact we lose more trades then we win, however when we do win, we win big which is what gives us our edge over the market. Trading is a game of predicting and to think that you will be correct 80% of time or even 50% of the time isn't realistic. A lot of people don't like to hear this but unfortunately as a trader you need to learn that you will loss more then you win. You also need to learn to let you winners run and to cut your losses early. A lot of people want that high win rate strategy, but at the same time a lot of people fail with trading. This is because if you want to be a profitable trader you need to go against the crowd. You need to do what the other 90% aren't. The majority of profitable traders have rubbish win rates, but that doesn't bother them because they know how to manage their risk and let their winners run. This isn't to say high win rate strategies don't work but we've found that a low win rate strategy with a higher risk to reward tends to be more profitable in the longer term, however it's harder to deal with the drawdown and to stick to your plan which is why so many people prefer a high win rate strategy. It's human nature to want to win but you need to get this mentality out of your head if you want to be profitable and you need to be happy with losing. Don't be like the majority. Stand out from the crowd. With that being said let's see what other opportunities are setting up!

Stay Safe - The JPI Team