My Silver Log

This is my trading journal reporting my silver trades.
You're welcome.

I'll be doing my trades with the strategy I developed to trade this pair and I will start this test with 14.29£ real money.

Game on!

My first trade will be in shorting silver @ 36.265 for a tp @ 35.30
Current short-term target is to reach 50£ total balance in small steps like this trade example.

Hi

I am using the Ichimoku on a daily chart but I am very new to this type of trading and still learning.

All the best

John from Durban

Hi Brother Bears

Sorry, the term sticks ...hahaha

Yeah, a short position at this level is good. The price of Silver is just parabolic for too long. Nothing like that can be sustained without a steep correction first. But it is abit too early to be totally bearish on it. Support is at 34 level now. Likely to hold too on next contact on the downmove, with a doji formed there 2 days ago.

Gold is a good indicator on where Silver could go too. If gold is bullish, one can bet 100% that Silver would be too, and more
But we can see from the chart that though Gold elk out a new high of 1449, that level was quickly rejected. So technically, that could be a false breakout. It could also have a potential of forming a double top, but too early to confirm now. I would look for a retracement to 1410 level and see how it holds there first. If it holds and turn, sadly, i have to say that the Gold & Silver bears would be brutally executed ..... me being one of them tooo....

Hi!
I'm actually quite hesitant in selling silver as I'm extremely bullish on it that I even started buying physical silver. I see 40 in short term up to 60 and reaching 100 very quickly perhaps before september.

Still, I'm using a strategy and I maintain the target point of 36.30
You will notice that the trades I will post might be in the opposite direction of the current trend so I'm counting with "overshoots" like the ones we had until 38, that is why I didn't include SL in my trade setup. I would have added more at 38 but I took the rest of the week off to be with my girlfriend so I missed it. I see 36.30 as highly likely with a weaker probability of extending 35.50 where bulls could come with much strength


Nice, how have you find your results? I've been through Ichimoku but I found fast moving averages on the daily to be more useful. You also have nice dynamic stop loss indicators to complement such strategy that would be pretty similar to Ichimoku but with a much more simple graphical representation.

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Thank you both for passing by

current status of my trade: still open

im also bullish on gold an silver, like almost everyone, but this divergences tell me there is likelly to be a correction soon. i see closes below the lower band as a strong sell signal, wich gold is reaching soon, maybe. And the divergences tell me bulls might be getting tired.