Sunday, May 1, 2011

Never get tired of making money!

So here's my latest trade on the Silver (XAG/USD)
After a sharp drop, probably from everyone taking profit after the long hike, the Silver Spot started to back up. So I'm jumping in again with a buy trade, this time at 1.50$ per pip. I'm hoping for the price to go test that resistance and possibly break it. In which case I will move my stop loss to breakeven or perhaps protect some profit, and ride the trend for what its worth. I'm pretty sure a lot of traders are going to feel the same way and jump in after this sharp drop, therefore making the price go further up. My personal guess is that Silver will close above 50 this week. So let's keep a close eye on this trade and hope for the best.

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