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Silver is following Gold's lead and showing us some bullish price action. With the FED money printers going, the move to precious metals is logical. Let's look for an entry to make some money off this silver uptrend.
Resource: wsj.com/articles/soaring-silver-attracts-investors-11589897775 + cbsnews.com/live-updates/cares-act-jerome-powell-steve-mnuchin-testify-senate-banking-committee/
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1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe as ETH continues to show strength.
2. With this strategy, we are looking for long setups in a uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry off the recently formed S1 bullish orderblock with a target of the R1 minor pivot point.
4. Our stoploss is placed below the price action at S1 to avoid any liquidity hunt. We will exit the position if our stoploss is hit or if Fractal Trend changes color.
5. Below we can see some other levels of interest to watch if S1 cannot hold.
Good luck metal heads!
Like, Comment & Follow to help the community grow 🎉🎉
---
Silver is following Gold's lead and showing us some bullish price action. With the FED money printers going, the move to precious metals is logical. Let's look for an entry to make some money off this silver uptrend.
Resource: wsj.com/articles/soaring-silver-attracts-investors-11589897775 + cbsnews.com/live-updates/cares-act-jerome-powell-steve-mnuchin-testify-senate-banking-committee/
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1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe as ETH continues to show strength.
2. With this strategy, we are looking for long setups in a uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry off the recently formed S1 bullish orderblock with a target of the R1 minor pivot point.
4. Our stoploss is placed below the price action at S1 to avoid any liquidity hunt. We will exit the position if our stoploss is hit or if Fractal Trend changes color.
5. Below we can see some other levels of interest to watch if S1 cannot hold.
Good luck metal heads!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.