Week to week, price is on the downtrend. The recent 4 weeks head and shoulders will be completed soon , pending a day close. on line chart the topping pattern can been seen as a validation of the 52 weeks resistance
Waiting for a h4 trappedtraders signal will be ideal or entry
A superpivot trappedtrader signal was fired off last night which happened to appear at a resistance confluence of
trendline and psychological resistance.
Week to week, there is a clear bearish trend with consecutive lower high weeks. As of yesterday, the print of a super pivot signal validates the resistance of the confluence zone, which is in tandem with a bear flag continuation pattern. This becomes an A Trade setup.
I wish to have profits within a week, 1-4 days.
Therefore I need to look at week to week uptrends to look for trades.
EURGBP D1 shows a stable week to week uptrend. I will wait for a retracement to go long. There should be an intra week retracement to get long.
Silver looks set to be creating new lows.
on the weekly chart, price is downtrend year to year.
Getting short will be in line with the mega trend.
h4 chart 1
week to week , day to day price is steadily going down.
h4 chart 2
price has now formed a bearflag, with #trappedtraders signal validating the 2014 low as resistance.
price is ready to make new lows.
This short is based on the premise that a bearish downtrend has been aligned on multiple timeframe.
Year to year, Silver is on a downtrend with consecutive new 52weeks low being formed every week.
Price is now on the verge of breaking previous year low, and also previous 2 months low. Breaking of this support confluence will open a huge amount of space below for movement.
The important concept here is space, in which traders may find trades with more moveability when key supports are smashed and move into space where no further support can be found.
on h4, the week to week downtrend is clear, after a previous round of 2months bearish consolidation.
Price is also showing a clear bearish trend on the day to day basis.
Any short now will be great, but I am also prepared to short more if there is a retracement.
Classic play on Resistance turn Support from 2014.
First longed on market gap open on monday. took quick profit.
2nd long was buy limit from 2014 high. Classic play and immediate profit on Gap up. However I did not hold on to more profits as the gap did not cover as anticipated.
Eventually, this would still be a bull trend on this strong week close. However I shall now wait for a good time to get long again. Current price is slightly high and I seek to get in when price is a low again.
Price trending nicely down. I am looking for sell limit at a strong R confluence.
I like how d1 pivots were formed from 52weeks level.
If a 1234 is formed, I will look to short even larger positions.
I will look to take profit at 100 pips.