Economic Events:
Closed Trades
Yesterday in the silver market, I preferred to close the buying trades manually for a gain of 22 dollars. Whereas in the gold selling trade, I managed to earn 14 dollars. Yesterday the gold market touched a high of 1649, only 3 pips away from the trigger stop-loss level. Later the market turned blue, and I closed this trade with a gain of 14. Unfortunately, the market for crude oil hit its stop-loss level at 77.23 and hurt my capital by 325 dollars. Active Trades
Today in the silver market, as the market is floating around the zone of 18.525, I place a short-term buying trade with a bullish target of 18.930. I opened a buying position in the precious yellow metal at 1630, with a stop loss at 1618 and a target price of 1641. Presently, this trade is floating at a gain of 2.64 dollars. If we talk about the bitcoin market as in the early Asian trading session, its value is surging; therefore, I set a pending sell limit order at 20520 with a lot size of 0.05.
Silver As the trading journal update mentioned yesterday, the silver market gave good respect to the trend line, and the price started to move to the upside after testing the trend line. As the market on the four hourly outlooks is still moving below the average of 50 and 100-days, the bearish pressure is still dominant. Extended lines of the MACD indicator also verify the downside momentum. Again, if the market retested the trend line and smashed it, the silver market would trigger a stop loss at 18.215. Otherwise, the market will move north, with a primary bullish resistance level of 18.995 and a take-profit level of 18.930.
Gold On the four-hourly chart, the gold market formed an inverted hammer candle. The proceeding candle also surpassed the upper wick of the inverted hammer candle, suggesting that markets can move to the upside in the near term. Therefore, I placed a short-term buying trade with a target price of 1641. Currently, its value is hovering around $1,629.The value of the RSI-14 is around 34.06, which suggests that markets can pump to the upside. The primary barrier is available for bullish moves in 1648, followed by 1657. Passing through 1648 would pave the way towards 1657.
