Managed Forex Accounts – Long on Silver, Is It Ready to Turn?

Managed Forex Accounts – Long on Silver, Is It Ready to Turn?

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.

SilverEntryDaily

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.

GBPJPYDailyUpdate

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