Hi traders! This week it’s a very volatile week, becareful if you day trade or scalp.
As you can see, this week will be quite volatile. It’s hard to see where the market will go for now. We should be able to see at the end of Monday or, morning Tuesday.
With those quite volatility, if we can catch the right trade, it will be very successful trade for 3 days trading.
What to do for now?
The safe currency to trade for now, would be “Gold” or “Silver“, Short side.
There’s a very quick overview of Gold chart following by silver.
Gold, did a double top, end last week witch a “shooting star” , this it’s a great signal for shorting gold next 2-3 weeks.
Gold Entry level:
It’s hard to say exactly when you should be able to short, but for this one, I would use “Fibonacci“, and look for a short around level 38% to 61%.
Last month, silver wasn’t following gold as strong as it should. If we compare last move up between “Gold” and “Silver”, we can notice how “Silver” wasn’t really pushing up.
For this reason, I expect to see silver breaking the “pennant” and retest resistance/support around 15.60$.
Have a great week all !
Thank’s for reading, comment & Like!