Silver - Short

4 sept. 2024

Technically, silver has faced resistance twice at the 61.8% retracement level, and we expect the previous peak to be retested. Additionally, when we examine the H1 timeframe, we see that the price has formed a double bottom at the 61.8% level, and by breaking the neckline, it confirms its desire to move upwards.

On the copy trade side, we made a pinpoint entry at the lowest level, and we will continue to keep our stop loss at breakeven until we see a clear reversal signal. Our target is to see an upward movement toward the previous peak.

5 sept. 2024

Trade fermée manuellement

A great upward movement has begun. 29.23 is our first significant resistance level. You can close most of your position at this level. Our main target is $30, but we might see another sharp decline before reaching those levels. Particularly with tomorrow's US non-farm payroll data, a sharp drop could occur. To avoid this risk, you can close most of your position and move your stop loss to breakeven or a profitable level for the remaining part.

In our copy trade service, we closed the entire position to avoid the risk of tomorrow's data.