DislikedHi Mike another quick question, Below is the daily Silver chart and on the daily chart bullish divergence is very visible snd the market is at a very strong level and there is BRN in play. Also on 1H chart there is a clear, validated TL bulding confluence with BRN. I know that you trade every TF in its own. But can we use the divergence on Daily chart and use it as a confluence for a possible break an retest of TL and BRN on 1H chart? I am asking this because such a trade is against a strong bearish trend. If it is unclear please let me know, English...Ignored
Your English is fantastic
Yes you can certainly use confluence in this way. I'll do similar things but as long as you don't over complicate it you will be fine.
So as you said we can see price starting to round off on the daily chart at this level. so if we can find a strong story to support it even a lower timeframe it will help the
chances.
Often you could split the difference and make it easier too. If we jump to the 4hr(again price is price so it's still the same stuff) we can see that divergence and then add in that TL and watch that PPZ right at the $14 mark
Becomes a strong area to watch for PA. Now for me though where I try to be extra picky is really wait for that PA to tip you off. it's like the last final piece that helps you set up your trade
Of course if you are from the US they like to make our lives difficult trading spot gold/silver(and just banned my fantasy footbal too!) so i'll use an ETF like SLV
Hope that helps
Mike