Sunday 27 November 2011

Long Silver

11.10am....
Gold and Silver surged in the morning before I even brush my teeth. It reaches the top channel of the 30 mins chart and it has been consolidating at the high level for the past 2 hours. 60 Mins is showing very tight BB and it looks more on buying strength than selling. For that, I went in to place a buy up order.

Decided to move in to buy silver. It is still a counter trend based on the historical movement, but signal is showing a strength is it's uptrend.
Went in to buy 50 lots at 31.7847.  SL set at 31.26 and TP at 32.56. I am risking $34 for this trade, profit is about $50.

Open trade : Long Silver 50.
Cash position 352.  Net position 355. Silver is showing a profit of $2 at the moment. Remember, this is a counter trade, so I hv to be careful

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