I took on a Long position on Silver contracts 2 days ago. Looking at the technicals it seemed like a good bet on a break through resistance. Yesterday we saw that break as the market traded silver prices up through the $20.35 area of resistance. Trading today has seen it continue to climb.
Entry came at $20.20 with my first target now at $23.00. Stop is already in a break even position so this trade can now mature without any risk at all. That essentially means that anything I make on this trade now is “free” money.
GBP/JPY trade is still in although it looks like it may be tiring out at the 50MA resistance. Position is still on for now, but without a move up through the 50MA on this I will likely take the profit and look for the next entry. So far this position is worth a bit better than 10% on the account in less than 2 weeks. See my previous posts for trade details.