For the past three months, silver has been dipping to $ 25. In technical analysis, this situation is called “level pressure”.
Having this situation, it is not ideal to buy silver because you will be caught in the middle of the stop orders set under $ 25,. Such is a classic trap often seen in the metals market.
Instead, what you should do is to wait for a breakout and pullback to best prices, as shown in the screenshot above. More specifically, the target is to bring silver to $ 22.
Of course, you need to be very careful to avoid losing money. Trading is very precarious, but profitable as long as you use the correct approach.
The plan above is under the Price Action and Stop Hunting strategies.
The material has been provided by InstaForex Company – www.instaforex.com
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