DislikedSilver sell looks ok. I have a Small real account and wont protect it thats way i will put stop loss to breakeven soon.Ignored
Silver - Careful consideration
Silver shouldn't be the first choice by undercapitalized accounts. Silver pulverises small accounts earlier than are believed.
Silver Chart
To improve the efficiency of your trading strategy. You see the major trend using a higher time frame than what you intend to use & a lower time frame to enter a trade. Silver shows at its daily chart a touch down till the middle line of BB. May be it goes now up again. We don't know, but you can follow this price at H4 and M30 or H1 and look if this resistance line (daily EMA20, or H4 EMA100) would be broken further down. If so then probabilities increases for a greater downward movement. But big capital don't give often other traders a clear sign so it could also be that prices will struggling around before it goes a few days later real down. Silver H4 CCI(14) is under 200 line, M5 moves sideways in a range, so I would take a look at M30, H1 and H4 and trade here this indifferent market situation till the breakout down occurs or silver prices would moves up again (see here then E.G. H1 EMA10, if the market price will cross the H4 EMA10 upwards - now price is underneath). If a big trend will come up you can see this at Daily chart earliest a few days later, but previous in smaller timeframes. In the meantime I would trade the H4, H1. If your investment (Long or Short) are after several days at the winner side and bigger time frame will give you the confirmation then I would let the win run further on.
If you think like this:
"Using multiple time frames to trade.
We take three charts of the same security. First is the weekly chart. Next chart is the daily chart. Third chart is the hourly chart.
We will now use the daily chart to trade. We check the weekly chart for the weekly trend. Lest assume the weekly trend is up. So based on this information we will just trade long positions in the daily chart. We look for a buy opportunity in the daily chart or we can see the hourly chart to enter a long position. Now for entering additional positions we use buy opportunities in the hourly chart. We would exit based on the daily chart only, because we were trading based on the daily chart."
..it's okay. But when a counter trend is coming up all this explanation don't help you really forward during the radical change. Then it's better to switch at lower timeframes (H4, H1, M30) during the change (rebuilding phase, radical change, inasmuch as strong momentum tends to break support and resistance, weak momentum does not) and trade approximately the smaller time frames as far as the other (recent, fresh, big) trend will become your road map, from then on familiar trading at higher timeframes can be recommended again.
EURUSD Charts
all okay!
Hope it helps
Nice work with your chart!
Keep it on!
FXcube
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