I’ve had a bit of a mixed bag recently in my Silver trading, probably getting too caught up in the long-term view and forgetting to book profits when I had the chance. Maybe I will have learned my lesson in another 35 years!
Let’s forget about that and move swiftly on to what’s in front of us now. I still prefer the long Silver trade and with a possible short-term base in place at 22.00, I will buy intraday dips towards 22.20 with a fairly tight stop. It’s December, and momentum/volatility is much more important than any technical indicators so I will stay patient and wait for levels that suit.
By the way there is one significant player in particular who is very active in Silver during the Asian session on a regular basis. Their modus operandi is to shift the market 1% (either way it seems) and hold the market until Europe opens when they unwind their trades. Easy money if you can get it and all will be well until the day they get caught on the wrong side (but I’m sure they will have booked plenty of profit commissions for themselves before that happens).