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16.02.202112:41 Forex Analysis & Reviews: Trading idea for silver

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

As expected, silver entered a profitable sell zone, after falsely breaking out of the correction. To those who did not open short positions yet, there is an opportunity to do so today:

Exchange Rates 16.02.2021 analysis

In fact, it also involves very ambitious target levels:

Exchange Rates 16.02.2021 analysis

So, from the current prices and within the framework of the large ABC wave structure, limit can be set at $ 29.0 - $29.5. Then, take profit as soon as the quote breaks through $25.8, $ 24.0 and $ 21.5.

Of course, traders still need to monitor the risks to avoid losing money. This market is very precarious, but also very profitable provided that the approach used is correct.

The strategy above follows "Price Action" and "Stop Hunting" methods.

Good luck!

Andrey Shevchenko
Analytical expert of InstaForex
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