taken silvermini long at 37006/ 5 lots

 

I think that silver has finally had a breakout for the upside and this gap is a very bullish sign . I entered 5 mini lots at 37006. The risk is on the higher side in this one..but i was waiting for the price to cross the 200sma to certain extent. It did cross it but with a very big gapup.. I would have gone half and added later on a retracement but the gap was too strong to be ignored.

Iam pretty confident of this trade as there seems to be a very bullish news for such a gapup. I dont care about the news i just see the charts and i can this is a big move. I expect silver to reach 37800-38000 levels from here where i will book partial profit.

There is resistance around the 38200 levels and if silver breaks that then i expect a big rally.

Silver long
5 lots at 37006
Big Gap
Big gap in silver

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