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Silver Rallies After Stop Hunt Below Previous Lows – Day Trade Long

October 06
22:16 2014

I’m totally shocked that a stop run of the previous major lows preceded the bounce in Silver (Sarcasm INCLUDED). Ok, on a serious note good job to all those who took the silver setup long. After the picture below was taken the market rallied .70 cents. Does this mean that the decline in the silver market is over? I have no idea. What I do know, just like in the blog post on the S&P 500 daily chart short setup and the S&P stop run short today, this is only a indication of short term direction change. This also gives us an extremely high R/R ratio trade potential. With the R/R ratio these trades produce even a 50/50 hit rate will be extremely profitable.

How would I look to trade this? I would wait for a strong base (support level) to be established over the next 12-48 hours. After a clear low has been established, if the market then creates another stop run of that level it will likely result in another short term push up and thus a possible day trade long opportunity. Happy Trading!

Silver Day Trade Setup Long

-Sterling

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About Author

Sterling Suhr

Sterling Suhr

Hey everyone, my name is Sterling Suhr. You and I more than likely have quite a bit in common when it comes to Forex trading. Like most, I started trading Forex and thought it would be rather easy.Everything I read said it would make you profitable so why wouldn't I believe it Forex trading was easy? The unfortunate part is that belief, and the hope that goes along with it pushed me into buying every scam Forex product there was. I've tried every EA, software, strategy, chart pattern, candle pattern, signal service, etc, all with negative results. The bottom line is mainstream Forex trading strategy will continue to fail retail traders. It wasn't until I realized this point did I begin to see success.On a personal note I currently reside in South Western Michigan. I personally love this part of the country and enjoy having a taste of all four seasons. I was recently married in May of 2012 and Chad has given me a stiff warning to not have children:) As a personal hobby I enjoy aviation and really anything to do with the outdoors.

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