FX.co ★ Trading idea for silver

A bearish momentum took place in the market yesterday and today. Because of this, silver can now reach $ 26.

In fact, since the quotes have formed a wave pattern (ABC), where wave A is the downward movement yesterday, traders can open sell positions from $ 27.3 - $ 27.5 and work for a 50% retracement. To do this, place limit at $ 27.9, and then take profit as soon as the quote breaks through $ 26.

Of course, traders still need to be careful to avoid losing money. Trading in this financial market is precarious, but profitable if the approach used is correct.

The idea above is under Price Action and Stop Hunting methods.

Good luck!