#01 Shorting the Silver

Date : 24th -28th Apr

Screen Shot 2017-04-29 at 2.25.27 pm.jpg

Spotted market in a bearish short-term trend as it fails to break key level. However an immediate entry on the daily time-frame requires a high risk exposure on my a/c, hence I’ve decided to use a smaller time-frame to position my entry.Screen Shot 2017-04-29 at 2.30.46 pm.jpg

What I needed for an entry was a sign/confirmation that market is also trending in a bearish direction on the smaller time frame. Price action has made a new low (1st), market retraces and failed to break previous high (2nd), Doji formed, making it a good winning/low-risk trade for me.

Screen Shot 2017-04-29 at 2.39.23 pm.jpg

Sadly, I did not take the full profit that was initially planned as a strong hammer was formed on the small timeframe (similar reason for my entry).

Comment if you like me to continue sharing my trade log 🙂

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s