Friday, August 30, 2013

Pending Buy Order On Silver

Silver Daily
Based on the strategy described in my previous post I have a pending buy order on silver at a Rally Base Rally (RBR) demand zone. The upward momentum is obvious from the strong bull bars. I also believe that price would want to test the weekly S/R flip (my target) and that should act as a magnet to pull price. This trade if successful would net around 2.8R. As it is based on the daily time frame, the challenge for me would be to avoid being shaken out by lower time frame movements, something which I'm pretty prone to. Hope it works out!

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