I'm entering Silver short
Daily: Silver has tapped and rejected (so far) from the 9MA, showing a continuation in short-term momentum. Besides that, 20MA & 50MA bearish crossover also supported this idea on the HTF.
Looking on weekly, we've also closed bearish
and with the 4H closing below Major level of resistance as a fakeout, this adds to the confluence that LDN open would drive volume into Silver and potentially trade lower.
As for entry, there's 4 consecutive 30m candle which rejected 22.28/Oz, with the previous candle closing weak bearish engulfing. I'm not trying to be the most precise on entry, but I want to enter at a fair-discounted price and capitalise on the bandwagon
The only thing that I'm concerned about is the LTF HL HH market structure that I'm shorting into.
Daily: Silver has tapped and rejected (so far) from the 9MA, showing a continuation in short-term momentum. Besides that, 20MA & 50MA bearish crossover also supported this idea on the HTF.
Looking on weekly, we've also closed bearish
and with the 4H closing below Major level of resistance as a fakeout, this adds to the confluence that LDN open would drive volume into Silver and potentially trade lower.
As for entry, there's 4 consecutive 30m candle which rejected 22.28/Oz, with the previous candle closing weak bearish engulfing. I'm not trying to be the most precise on entry, but I want to enter at a fair-discounted price and capitalise on the bandwagon
The only thing that I'm concerned about is the LTF HL HH market structure that I'm shorting into.
Hold nothing sacred in search of truth