Silver – False Break Trade Profits, Resistance Ahead | Jun 14
My current active open trades: EURUSD, USDJPY, NZDJPY, CADJPY, XAUEUR, TSLA (2 positions), VXZ & 2 put options (AUDUSD & EURJPY)
Silver – False Break Trade Idea Profits, Key Resistance Ahead (daily chart)
Last week we talked about the pin bar + false break setup on silver and how we felt it would lead to higher prices. Note how the price action climbed and held above 16.15, gaining over 135 pips since.
We also called this exact same move in our ichimoku course as well for our June commentary.
For now, I’m bullish biased while above 15.75 on a daily closing basis. Near term there is resistance ahead at the 18 handle which should draw some profit taking. But I’m expecting this level to fold for a run toward the 20 and 21 handles.
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