Only the Best
Overtrading is one of the biggest loosing propositions of a trading system. Are you participating too often, rather than conditioning patience? Putting your money only into the best opportunities is the key. Excellent confluence of trading supportive factors is vital. This is often the deciding factor if systems provide solid profits or fail entirely.
We had one more reload long entry in addition to our three Silver long positions on the 22nd of March
Silver in US Dollar, 60 min chart as of March 22nd 2019
Shortly after it reached its first target and generated income:
Silver in US Dollar, 60 min chart as of March 25th 2019
Here is the point so. These income generating trades are only low risk in context. Meaning without trades A and B (see chart below), trades C and D are high risk positioning trades.
Silver in US Dollar, daily chart as of March 31st 2019
Removing ourselves from the smaller picture to the larger weekly time frame, brings clarity to what we try to illustrate here. If you seek to newly establish yourself in the Silver market than as much as the big number 15 (as support) might tempt to place a trade, the risk reward ratios are simply not favorable.
Point 1 and 2 (in the chart below) clearly show supply and demand zones with fractal density, which point out strong resistance. Point 3 and 4 do the same for support. The zone in between $15 and $16 simply does not allow for good entry positioning, but invites for over trading. As such, we advise rather to wait for possible retracements. New positions might be established into the fractal green box support zone of prices $14.67 or lower.
Weekly chart support / resistance:
Silver in US Dollar, weekly chart as of March 31st 2019
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