FX.co ★ Trading idea for silver

Below is the continuation of the trading idea on January 14 , however, this time, it has new target levels.

At the moment, silver has formed a three-wave pattern (ABC), where wave "A" is the downward impulse observed from January 6 to 18. Clearly, wave "B" has pulled half of it back, so we recommend working for a decline towards the first target which is 23.9, followed by a further drop towards 21.600.

Of course, you still have to monitor risks to avoid losing profit. Trading is very precarious, but is also profitable if the approach used is correct.

The strategy above follows Price Action and Stop Hunting methods.

Good luck!