Silver Breakout Long Setup

Today a member of my social media pointed out that Silver may be setting up for a long trade. I like the price action on the Daily where Silver instruments (futures and SLV) have broken the 6 month 50% Retracement Resistance at 23 and confirmed the break by holding above it for the last few days. This sets up a breakout trade to retest the recent major highs around 26. I expressed this trade with the instrument SLVO

Commentaire:

I was questioned at the time why I stopped out this trade (rather than consider it a DCA). My latest post is why...